The Robert Company produces three products product X, product Y and product Z. These products are produced from a single raw material in a joint production process. The products do not have a market value at split-off point and require a further processing to place them in the saleable condition. The joint production cost for a recently completed production run is $16,500. Other relevant data is given below: Quantities Processing cost after Ultimate market value per Products Product X Produced split-off unit 4,000 $1,000 $2.25 Product Y 3,000 $2,000 2,000 $4,000 $4.00 $8.00 Product Z Required: Allocate joint production cost to joint products using the below table assuming the Robert company uses the Net Realizable Value method of joint cost allocation. Processing Ultimate market Roberts Quantities cost after value per Company Produced split-off unit Total Market Value Net Realizable Value Joint Cost Allocated Ratio Joint Costs Total Production Costs Product X 4,000 $1,000 $2.25 3,000 Product Y $2,000 $4 2,000 $4,000 $8 Product Z Total 9,000 $7,000