LIA Company makes two products from a common input. Joint processing costs up to the split-off point total $47,600 a year. The company allocates these costs to the joint products on the basis of their total sales values at the split-off point. Each product may be sold at the split-off point or processed further. Data concerning these products appear below: Allocated joint processing costs Sales value at split-off point Costs of further processing Sales value after further processing Product X Product Y Total P 23,800 P23,800 P 47,600 34,000 34,000 68,000 20,900 21,800 42,700 53,600 60,100 113,700 The total profit (loss) of the firm from processing all products beyond split-off point is P. P71,000 P 3,000 (P71,000) O $65,000