Longwood Corporation processes a liquid into three outputs: K2,K4, and K5. The sales value of each of these products for a single batch follows: The Joint costs total $850,000. There are no separable production costs. If K5 is accounted for as a by-product, its sales are crediled to the Joint manufacturing costs using method 1 described in the text. Required: a-1. What are the allocated joint costs for the three outputs, if K5 is accounted 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 allocatod foint costs for the three outputs, If K-5 is accounted for as a joint product? Note: Do not round your intermediate calculations. Longwood Corporation processes a liquid into three outputs: K2,K4, and K5. The sales value of each of these products for a single batch follows: The joint costs total $850,000. There are no separable production costs. If K5 is accounted for as a by-product, its sales are credited to the joint manufacturing costs using method 1 described in the text. Required: a-1. What are the allocated joint costs for the three outputs, If K. 5 is accounted 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 ollocated Joint costs for the three outputs, If K-5 is accounted for as a by-product? Note: Do not round intermedlate calculations