A dairy allocates the cost of unprocessed milk to theproduction of milk, cream, butter and...
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Accounting
A dairy allocates the cost of unprocessed milk to theproduction of milk, cream, butter and cheese. For the currentperiod, unprocessed milk was purchased for $240,000, and thefollowing quantities of product and sales revenues wereproduced. Product pounds price per pound milk 100,000 $.90 cheese 50,000 2.20 butter 20,000 1.00 Cream 10,000 3.00 How much of the $240,000 cost should be allocated to milk?
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