Skill Building Exercise 1-Cost Allocation: Joint Products: NRV Sample Company manufactures three products. Production begins with a joint process, and the three outputs of the joint process are processed further to produce products L, M, and N. The outputs at split-off have no market value. Last year, the joint costs amounted to $600,000. Other data for last year are as follows: Product M Product N S400 S350 8,400 kg 7,000 8,0007,000 Product L S160 Selling price per unit Costs per unit after split-off point to complete and sell S100 Total output at split-off point used in production 16,400 kg Production in units Sales in units $300 S200 10,000 kg 10,000 20,000 18,000 Using the estimated (approximate) net realizable value method of joint costing, the inventory cost per unit of product M is: a) $226.91 b) $223.53 c) $221.52 d) $220.00 e) $217.24