Ralph corporation manufactures two products, cheese and butter in a single process. cheese sells for $14 per pound, and butter sells for $15 per pound. during the month, the joint costs related to the process amounted to $81000. in addition 5,000 pounds of cheese and 4,000 pounds of butter were produced. separable processing costs beyond the split-off point were cheese at $15000 and butter at $15000

required:

1. determine the amount of joint costs allocated to cheese using the net realizable value method.

2. explain in what scenarios the net realizable value method would be useful.