Business, 05.03.2021 02:20 chilanka

Required information SB The following information relates ... Skip to question [The following information applies to the questions displayed below.] The following information relates to a joint production process for three products, with a total joint production cost of $150,000. There are no separable processing costs for any of the three products. Product Sales Value at Split-Off Units at Split-Off 1 $ 195,000 290 2 60,000 870 3 45,000 1,740 $ 300,000 2,900 Brief Exercise 7-20 [LO 7-6] Assume that the total sales value at the split-off point for product 1 is $90,000 instead of $195,000 and the sales value of product 3 is $3,000 instead of $45,000. Assume also that the firm treats product 3 as a joint product and uses the net realizable value method for accounting for joint costs. There are no separable processing costs for product 3. What amount of joint costs would be allocated to the three products using the relative sales value method

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