CH16_Exercise Question 1 Convad Company is one of the world's leading corn refiners. It produces two joint productscorn syrup and corn starch-using a common production process. In July 2012, Convad reported the following production and selling-price information: A D B C 1 Corn Syrup Corn Starch Joint Costs 2 Joint costs (costs of processing corn to splitoff point) $325,000 3 Separable cost of processing beyond splitoff point 4 Beginning inventory (cases) 5 Production and Sales (cases) 6 Ending inventory (cases) 7 Selling price per case Required Allocate the $325,000 joint costs using the NRV method. $375,000 93,750$ 0 0 12,500 6,250 0 0 50 25$