McGuire Advertising Agency produced television and magazine ads for a client. The ads

were developed with a common theme, and in so doing, $49,000 in joint costs were incurred.

Separable costs totaled $60,000 for the TV ads and $20,000 for the magazine ads. The

agency received $95,000 in fees for the TV ads and $42,000 for the magazine ads.

Allocate the joint costs using the net realizable value method:

TV ads: $ ____________________ Magazine ads: $ ___________________

work must be shown