11-76 (Algo) Effect of By-Product versus Joint Cost Accounting (LO 11-3, 5) Longwood Corporation processes a liquid into three outputs: K-2, K-4, and K-5. The sales value of each of these products for a single batch follows: K-2 K-4 K-5 $592,600 441,400 198,500 The joint costs total $980,000. There are no separable production costs. If K-5 is accounted for as a by-product, its sales are credited to the joint manufacturing costs using method 1 described in the text. Required: a-1. What are the allocated joint costs for the three outputs, if K-5 is accounted for as a joint product? a-2. What are the allocated joint costs for the three outputs, if K-5 is accounted for as a by-product? Complete this question by entering your answers in the tabs below. Req A1 Req A2 What are the allocated joint costs for the three outputs, if K-5 is accounted for as a joint product? Note: Do not round your Intermediate calculations. Round your final answer to the nearest whole dollars. Accounted for as a Joint Product K-2 K-4 K-5 Req A1 Req A2 >