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Question - Kingston Specialty Corporation manufactures joint products P and Q. During a recent period, joint costs amounted to $101,000 in the production of 42,000 gallons of P and 77,000 gallons of Q. Kingston can sell P and Q at split-off for $3.30 per gallon and $4.20 per gallon, respectively. Alternatively, both products can be processed beyond the split-off point, as follows:
P
Q
Separable processing costs
$35,000
$55,000
Sales price (per gallon) if processed beyond split-off
$3
$4
What the joint cost allocated to P under the relative-sales-value method?
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