Butterfly Corp, manufactures products M1 and M2 from a joint process, which also yields a by-product, B1. Butterfly accounts for the revenues from its by-product sales as other income. Additional information follows: Units produced M1 24,700 Allocated joint costs Sales value at split-off $402,000 M2 13,000 $268,000 B1 Total ? 9,500 ? $94,000 47,200 $374,000 $764,000 Required: Assuming that joint product costs are allocated using the net realizable value at split-off approach, what was the joint cost allocated to product M1? (Do not round intermediate calculations.) Joint cost of product M1