18. Determine the profitability of each product after allocating joint costs using sales value at splitoff, with the byproduct accounted for at the time of production. Parkle Corporation runs a mining operation that costs $300,000 per year. The mining yields precious stones that sell for $500 each, semi-precious stones that sell for $50 each, and ordinary stones that sell for $5 per bag, in bags containing approximately 1,000 stones. Ordinary stones are considered a byproduct of the mining operation. This year, the mining operation yielded 500 precious stones, 2,000 semi-precious stones, and 500,000 ordinary stones. All stones were sold at splitoff.