A split of point arises immediately after three series of continuous processes. Three products A, B and C arc produced where each product have its significant market value. At the same point product F emerge as a secondary product.

Product Unit Selling Price Quantity

(RM) (Litre)

A 10.00 500

B 15.00 400

C 20.00 300

F 2.00 200

Total joint costs are RM 10,000 with input materials at 1,400 gallons. No losses and no partly complete unit arise in the third process.

1. how to use the net realizable value method to prepare process 3 account and joint products profit statement ?