Nate Company manufactures Products A and B from a joint process that also yields a by-product, X. Nate Company accounts for the revenue from its by-product sales as a deduction from the cost of its main products. Additional information is as follows: Product A B X Total Units produced 15,000 9,000 6,000 30,000 Joint costs ? ? ? $180,000 Sales Value at split off $420,000 $140,000 $20,000 $580,000 1) Assuming that joint product costs are allocated using the relative sales value at split-off approach, what was the joint cost allocated to products A and B? 2) Prepare the journal entry to transfer the finished products to separate inventory accounts. 3) Assuming the sales value of X is stable, prepare the journal entries to: a) place the by-product in stock b) record the sale of 3,000 units for $10,500 on account