Problem 1: XXX Company produces two products from a joint process: X and Z. Joint processing costs for this production cycle are P8,000. Inches Sales Price per Inch at Split Or Disposal Cost per Further inch at Split of processing cost per inch x 1,500 16.00 P3.50 P1.00 Z 2200 19.00 P5.00 P3.00 Required: Allocate the joint cost using: (Show complete solutions) 1 Physical measure (10pts) 2 Sales value at split off (10pts) 3 Approximate NRV approach (12 pts) Problem 2: YYY Company manufactured joint products X and Y as well as by-product Z. Cumulative joints cost data for the period show P204,000, representing 20,000 completed units process through the Refining Department at an average cost of P10.20. Costs are assigned to X and Y by the market value method, which considers further processing costs in subsequent operations. To determine the cost allocation to Z, the reversal cost method is used. Additional data are as follows: Z X Quantity Processed Sales price per unit Further processing cost per unit Marketing & administrative expenses per unit Pl Operating profit per unit Y 2.000 8.000 10.000 P6 P20 P25 P2 P5 P7 PI Required: 1 Compute the joint cost allocated to by product (Opts) 2 Allocate the joint cost to the main product (10pts)