(Net realizable value allocation) Arizona Mining Limited had the following gem output during October 1997: 1 diamond, 1 carat; multiple rubies, 10 carats; and multiple opals, 20 carats. This production was determined at the split-off point, and the output had to be processed further before the company could sell it. The joint cost amounted to $16,000, and the total additional costs after split- off and the final per-carat selling prices are as follows:

Using the approximated net realizable value at split-off method, allocate the joint cost to the joint products.LO1 

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Diamond ADDITIONAL PROCESSING COSTS $15,000 FINAL SELLING PRICES $43,000 Rubies Opals 5,000 1,000 8,000 2,000