Adirondack Bat Co. proceesses rough timber to obtain three grades of lumber, A, B, and C that are then made into baseball bats. The company allocates joint costs to the joint products on the basis of the sales value at the split-off point. During the month of May, Adirondack incurrred total joint produciton costs of $300,000 in producing the following. 1. Make the journal entry to transfer the finished lumber to separate work in process inventory accounts for each product. 2. What would be the allocation of joint costs if the company were to use the physical measure method?

Thousand Board Feet Sales Value per 1,000 Board Feet

Grade A 200 $200

Grade B 300 100

Grade C 500 150