1. Convad Company is one of the worlds leading corn refiners. It produces two joint productscorn syrup and corn starchusing a common production process. In July 2018, Convad reported the following production and selling-price information:

	Corn Syrup	Corn Stratch	Joint Costs
Joint costs (costs of processing corn to splitoff point)			$325,000
Separable cost of processing beyond splitoff point	$375,000	$93,750
Beginning inventory (cases)	0	0
Production and Sales (cases)	12,500	6,250
Ending inventory (cases)	0	0
Selling price per case	$50	$25

Allocate the $325,000 joint costs using the NRV method.