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Data pertaining to a company's joint production for the current period follows: Quantities produced Market value at split-off point L 180 lbs. M 132 lbs.

Data pertaining to a company's joint production for the current period follows: Quantities produced Market value at split-off point L 180 lbs. M 132 lbs. $ 15/lb. $ 25/lb. Compute the cost to be allocated to Product M for this period's $1,060 of joint costs if the value basis is used. Multiple Choice $530. $477. $2,083. $583

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