Bismite Corporation purchases trees from Cheney lumber and processes them up to the

splitoff point where two products $($paper and pencil casings$)$ are obtained. The products are

then sold to an independent company that markets and distributes them to retail outlets. The

following information was collected for the month of October:

The cost of purchasing $250$ trees and processing them up to the splitoff point to yield

$180,000$ sheets of paper and $180,000$ pencil casings is $$12,500.$

Bismite's accounting department reported no beginning inventory.

If the sales value at splitoff method is used, what are the approximate joint costs assigned to

ending inventory for paper?

$$57\mathrm{.}78$

$$185\mathrm{.}17$

$$57\mathrm{.}87$

$$175\mathrm{.}38$