How much of the cost should be allocated to milk, Accounting Basics

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How much of the cost should be allocated to milk

A dairy allocates the cost of unprocessed milk to the production of milk, cream, butter and cheese. For the current period, unprocessed milk was purchased for $360,000, and the following quantities of product and sales revenues were produced.

Product Pounds Price per Pound

Milk 170,000 $1.60
Cheese 57,000 2.90
Butter 27,000 8.00
Cream 17,000 10.00

How much of the $360,000 cost should be allocated to milk? (Do not round your intermediate calculations.)

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Accounting Basics: How much of the cost should be allocated to milk

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Accounting Basics: How much of the cost should be allocated to milk

Reference No:- TGS0706887

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

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Ask an Expert for Answer!!

Accounting Basics: How much of the cost should be allocated to milk

Reference No:- TGS0706887

Recent Questions Asked Accounting Basics

Q : Why the financial statements affected

Q : Tooltime materials price variance

Q : What effect would that have on the accounting system

Q : Fabric uniforms for use in fire service

Q : How much of the cost should be allocated to milk

Q : Why the street frontage lots using value basis

Q : How to the assume a discount rate

Q : Compute the equivalent units of production for the month

Q : How to produces electronic timepieces

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