Allocate joint costs and determine by-product values.

Joint Production Details	Total Joint Costs ($)	Main Product Units Produced	By-Product Units Produced
Joint Costs	$800,000	30,000 units	15,000 units

Requirements:

Allocate joint costs to the main product and by-product using the physical units method.

Determine the cost per unit for the main product and by-product.

Discuss the treatment of by-products in costing and financial reporting.