Sinclair Company is one of the world's leading corn refiners. It produces two joint products, corn syrup, and corn starch, using a common production process. In July 2018, Sinclair reported the following production and selling price information:

Required

Allocate the $329,000 joint costs using the NRV method.

Production and selling price information Corn Syrup Corn Starch Joint Costs $ 329,000 $ 324,960 $ 96,640 0 0 Joint costs (costs of processing corn to splitoff point) Separable cost of processing beyond splitoff point Beginning inventory (cases) Production and sales (cases) Ending inventory (cases) Selling price per case 12,300 6,400 0 0 48 $ 23 (Round the weightings to two decimal places.) Corn Syrup Corn Starch Total Final sales value of total production Deduct separable costs NRV at splitoff point Weighting Joint costs allocated