Use the Information Below to Answer the Following Question(s)

question 167

Multiple Choice

Use the information below to answer the following question(s) .Troy Company processes 15,000 litres of direct materials to produce two products, Product X and Product Y.Product X, a byproduct, sells for $4 per litre, and Product Y, the main product, sells for $50 per litre.The following information is for August:
The manufacturing costs totalled $95,000.
-What is the net effect to the income statement for the recognition of the byproduct, if byproducts are recognized when production is completed, and the company uses FIFO?

• A)$17,500
• B)$16,000
• C)$16,844
• D)$17,300
• E)$16,625

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