Miller Company manufactures three products, A,B and C from a joint process. The joint cost for January totaled Rs. 100,000. Additional January information follows

Product Quantity Processing Cost after Split-Off Ultimate Market Value

A 3,000 Rs. 20,000 Rs. 60,000

B 4,000 Rs. 30,000 Rs. 110,000

C 3,000 Rs. 50,000 Rs. 90,000

Required:

1. Compute the total production cost for each product using average unit cost method.

2. Compute the total production cost for each product using the market value method