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Determine the amount of joint cost allocated to each product

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Question - Chemical X, Inc processes pine rosin into three products; turpentine, paint thinner, and spot remover. During June the joint costs of processing were $280,000. Production and sales value information for the month were as follows:

Product Units produced Sales Value at Split-off Point

Turpentine 3000 liters $30,000

Paint Thinner 3000 liters $25,000

Spot remover 1500 liters $12,500

Required - Determine the amount of joint cost allocated to each product if the physical measure method is used.

Reference no: EM132764299

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