1. Shell Corporation refines crude oil into gasoline and diesel using process costing. In July 2033, the company processes 80,000 barrels of crude oil costing $4,000,000. The refining process yields:

Product	Barrels	Cost per Barrel ($)
Gasoline	50,000	80
Diesel	30,000	100

1. Required:
   • Allocate joint costs using the sales value at split-off method.
   • Determine the cost per equivalent unit for gasoline and diesel.
   • Calculate the total joint production costs allocated to each product.