CoursHeroTranscribedText: EXERCISE 3 Quorum, Inc, has joint processing costs of $1,000,000. There are no further processing costs. The demand for Quorum's products has been uctuating greatly; production has remained relativer constant. The following information for the past year has been provided: Product Units Sold Selling Price per Unit Units Produced Q80 25,000 $4.00 30,000 R34 40,000 5.00 30,000 899 35,000 2.00 50,000 T14 50,000 1.50 50,000 U2 T5000 3.50 80,000 Required: Allocate the joint costs using the salestoproductionratio method