More info - X60 tons sold for $1,500 per ton - Y260 tons sold for $1,000 per ton - Z - 470 tons sold for $700 per ton The total joint manufacturing costs for the year were $328,000. Keeva spent an additional $200,000 to finish product Z. There were no beginning inventories of X, Y, or Z. At the end of the year, the following inventories of completed units were on hand: X, 240 tons; Y, 140 tons; Z, 30 tons. There was no beginning or ending work in process. More info Products X and Y are ready for sale immediately upon splitoff without further processing or any other additional costs. Product Z, however, is processed further before being sold. There is no available market price for Z at the splitoff point. The selling prices quoted here are expected to remain the same in the coming year. a) Start with the NRV cost allocation method. Begin by computing the net realizable value for total production at the point of splitoff and the weighting for each roduct. (Enter the weights to two decimal places.) he split, if any, to determine the total production costs of each product using the NRV method. (Enter a "0" for any cells with a zero balance.) Determine the formula needed to compute the cost of goods sold using the NRV method. Compute the cost of goods sold for income statement purposes as of December 31, 2017, using the NRV cost allocation method. NRV method: Cost of goods sold Determine the formula needed to compute the cost of ending inventory using the NRV method. Compute the cost of inventories of X,Y, and Z for balance sheet purposes as of December 31,2017 , using the NRV cost allocation method. NRV method: \begin{tabular}{ccc} X & Z & Total \\ \hline \end{tabular} Ending inventory