QUESTION 3 - 8 MARKS Abbey Company uses a jdint process to produce products L, M and N. Each product may be sold at split-off or processed further and then sold. Joint processing costs for the year amounted to $500,000. Other information is presented below: Separable Processing Sales Value Costs after Sales Value Product at Split-off Split-off at Completion $420,000 $140,000 $530,000 M 250,000 40,000 360,000 N 280,000 70,000 340,000 Required: a) Which products, if any, should be processed further? b) Using only the information above, calculate net income if all three products were sold at the split off point? c) Using only the information above, calculate net income If all three products were processed further