Bismite Corporation purchases trees from Cheney lumber and processes them up to the split-off point where two products (paper and pencil casings) emerge from the process. 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: 260 trees paper pencil casings paper pencil casings Trees processed Production 150,000 sheets 150,000 42,000 at S0.10 per page 48,000 at $0.15 per casing Sales The cost of purchasing 260 trees and processing them up to the split-off point to yleid 150,000 sheets of paper and 150.000 penail casings is $16,000 Bismite's accounting department reported no beginning inventory If the sales value at split-off method is used, what are the approximate joint costs assigned to ending inventory for paper? (Round intermediary percentages to the nearest hundredth.) ANS-2 Steps