(acct301) cost accounting

Q1. JKL Company processes a direct material and produces three products: P1, P2, and P3. The joint costs of the three products in 2018 were SAR 120,000. The total number of units for each product and the selling price per unit is given below:

Product	Units	Selling Price per unit
P1	55,000	SAR 70
P2	34,500	SAR 58
P3	10,500	SAR 44

You are required to use the physical volume method and sales value at the split-off method to allocate the joint costs to each product.