Elmiro Company produces joint products, PI$,$ P$2,$ and P$3$ from a process.

The following information concerns a batch produced in July at a joint cost of $$220,000$:

After Split$-$Off

Product Unit Produced and Sold Additional Costs Total Sales Value

P$120,000$ $$20\mathrm{.}000$ $$320\mathrm{.}000$

P$214,000$ $$15,000$ $$490,000$

P$315,000$ $$10,000$ $$75\mathrm{.}000$

Required: $($Round all numbers to $2$ decimals places$)$

$$How much of the joint cost should be allocated to each joint product using the net$$realizable value method?

$$How much of the joint cost should be allocated to each joint product using the physical$$measure method?

$$How much of the joint cost should be allocated to each joint product using sales value at$$the split off method?

$$Which of the $3$ methods the company should use to allocate the joint cost and why?