Joint Product Cost Allocation. Jackson Inc. produces four joint products having a manufacturing cost of $70,000 at the split-off point. Data pertinent to these products follow: LO5 Product Units Produced Ultimate Market Value per Unit Processing Cost after Split-Off Weight Factors K

5,000

$5.50

$1,500 3.0 points L

20,000 1.60 3,000 2.0 points M

15,000 1.50 2,500 4.0 points N

10,000 3.00 5,000 2.5 points Required: Allocate joint products cost using:

(1) The average unit cost method.

(2) The weighted average method.

(3) The market value method.