(Net realizable value method) Jackson Processing produces three joint products in a single process. The joint cost is $25,000.

a. Allocate the joint cost based on net realizable value at split-off. If necessary, use the net realizable value method for accounting for any by-products.

b. Determine the value of the inventory, assuming the following finished goods inventories:LO1 

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PRODUCT UNITS PRODUCED UNIT COSTS AT SPLIT-OFF SELLING PRICE X Y Z 8,000 9,000 500 $ .75 1.00 .10 $4.00 4.25 .40