Three Company produces two products (Product 1 and Product 2) from a common input. Joint costs for January total $200,000. Information related to the two products is as follows:

Pounds Produced Weight Factor Price at Split-Off Additional Processing costs Final Sales Value

Product 1 2,000 1.0 $50 $20 $80

Product 2 3,000 2.0 20 10 60

Note: Round all calculations to two decimal points and all dollar amounts to the nearest dollar.

#7. Determine the amount of joint costs allocated to Product 1 using the physical units method. A.$50,000 B.$80,000

C.$66,667 D.$20,000

#8. Determine the amount of joint costs allocated to Product 1 using the weighted average method.

A.$66,667

B.$50,000

C.$80,000

D.$60,000

#9. Determine the amount of joint costs allocated to Product 1 using the sales- value-at-split-off method. A.$125,000 B.$142,857 C.$90,909 D.$133,333