Blue Company makes three products, X, Y, and Z, which come from a joint process. The joint costs for each batch of the products are: $96,000 for direct materials, $44,000 for direct labor, and $36,000 for indirect costs. Each batch produces 20,000 pounds of product X with a market value of $6 per pound; 9,000 pounds of Y with a market value of $12 per pound; and 15,000 pounds of Z with a market value of $10 per pound. Required: 1. Determine the total amount of joint cost allocated to each of the three products X, Y, and Z, assuming the joint costs are allocated based on the weight of the products. 2. Determine the total amount of joint cost allocated to each of the three products X, Y, and Z, assuming the joint costs are allocated based on the market value of the products. Your solution should have 6 clearly stated amounts. You must also show all work to earn credit.