(Sales value allocation) S. Cattle produces milk and sour cream from a joint process. During June, it produced 240,000 quarts of milk and 320,000 pints of sour cream. (There are two pints in a quart.) Sales value at split-off point was $100,000 for the milk and $220,000 for the sour cream. The milk was assigned $43,200 of the joint cost.

a. Using the sales value at split-off approach, determine the total joint cost for June.

b. Assume, instead, that the joint cost was allocated based on the number of quarts produced. What was the total joint cost incurred in June?

 LO1.