30 paints QUESTION 1 Star Enterprises buys MAIN Product, and at the end of processing the MAIN Product splits off into Products X, Y. and Z. During May 2017, the joint costs of processing were AED 800,000. Production and sales value information for the May is as follows: No. of units sold Product X Y Z 120,000 units 85,000 units 180,000 units Selling price at Split off point 220,000 300,000 467,000 If Processed further Additional costs Sales value 30,000 500,000 42,000 550,000 50,000 700,000 Required: (Show all calculations) 1- Calculate the joint costs allocated to each product if the company uses the net realizable value (NRV) method? (20 marks) 2. If the company uses the physical quantity method for allocating the joint costs, calculate the gross profit for each product assuming that the products will be sold at the split off point? (10 points)