Longwood Corporation processes a liquid into three outputs: K-2, K-4, and K-5. The sales value of each of these products for a single batch follows: The joint costs total \$1050,000. There are no separable production costs. If K5 is accounted for as a by-product, its sales are credifed to the joint manufacturing costs using method 1 described in the text. Required: a-1. What are the allocoted joint costs for the three outputs, if K5 is occounted for as a joint product? a-2. What are the allocated joint costs for the three outputs, if k - 5 is accounted for as a by-product? Complete this question by entering your answers in the tabs below. What are the allocated joint costs for the three outputs, If K-5 is accounted for as a joint product? Note: Do not round your intermediate calculations. Round your final answer to the nearest whole dolle Complete this question by entering your answers in the tabs below. What are the allocated joint costs for the three outputs, If K-5 is accounted for as a by-product? Note: Do not round intermediate calculations. Round your final answer to the nearest whole dollars