Joint cost allocation

McKenzies Soap Sensations, Inc., produces hand soaps with three different scents: morning glory, snowflake sparkle, and sea breeze. The soap is produced through a joint production process that costs $30,000 per batch. Each batch produces 14,800 bottles of morning glory hand soap, 12,000 bottles of snowflake sparkle hand soap, and 10,000 bottles of sea breeze hand soap at the split-off point. Each product is processed further after the split-off point, but the market value of a bottle of any of the flavors at this point is estimated to be $1.25 per bottle. The additional processing costs of morning glory, snowflake sparkle, and sea breeze hand soap are $0.50, $0.55, and $0.60 per bottle, respectively. Morning glory, snowflake sparkle, and sea breeze hand soap are then sold for $2.00, $2.20, and $2.40 per bottle, respectively.

1. Using the net realizable value method, allocate the joint costs of production to each product. Round your answers to two decimal places.

Joint Product	Bottles per Batch	Market Value per Bottle at Split-Off	Total Market Value at Split-Off	Market Price per Bottle	Added Cost per Bottle	NRV per Bottle	Total Net Realizable Value	Greater of Total NRV and Total Market Value at Split-Off	Proportion	Joint Costs	Allocation
Morning glory hand soap	fill in the blank 1	$fill in the blank 2	$fill in the blank 3	$fill in the blank 4	$fill in the blank 5	$fill in the blank 6	$fill in the blank 7	$fill in the blank 8	fill in the blank 9%	$fill in the blank 10	$fill in the blank 11
Snowflake sparkle hand soap	fill in the blank 12	fill in the blank 13	fill in the blank 14	fill in the blank 15	fill in the blank 16	fill in the blank 17	fill in the blank 18	fill in the blank 19	fill in the blank 20%	fill in the blank 21	fill in the blank 22
Sea breeze hand soap	fill in the blank 23	fill in the blank 24	fill in the blank 25	fill in the blank 26	fill in the blank 27	fill in the blank 28	fill in the blank 29	fill in the blank 30	fill in the blank 31%	fill in the blank 32	fill in the blank 33
Totals	fill in the blank 34							$fill in the blank 35			$fill in the blank 36