Kreider Farms produces three products and one by-product: Whole Wheat Flour, Bleached Flour, All-Purpose Flour, and Bran (by-product). Bran can be sold for $1,200. Joint process costs for the products are $12,200. If the other three products can be sold for $23,000, prepare the journal entry for the sale of the Bran if the company uses the sales method to account for by-products? Prepare the journal entry for the sale of the Bran if the company uses the production method to account for by-products?

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The Answer of Kreider Farms produces three products and one by-product: Whole Wheat Flour, Bleached Flour, All-Purpose Flour, and Bran (by-product). Bran can be sold for $1,200. Joint process costs for the products are $12,200. If the other three products can be sold for $23,000, prepare the journal entry for the sale of the Bran if the company uses the sales method to account for by-products? Prepare the journal entry for the sale of the Bran if the company uses the production method to account for by-products?

Kreider Farms Produces Three Products and One By-Product: Whole Wheat