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: M2 M1 22,500 Units produced Allocated joint costs Sales value at split- off B1 13,500 9,000 ? $280,000 $100,000 Total 45,000 $400,000 $800,000 $420,000 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