Butterfly Corp. manufactures products M1 and M2 from a joint process, which also yields a by-product, B1. Butterfly accounts for the revenues from its by-product sales as other income. Additional Information follows: M1 27,600 M2 13,200 Units produced Allocated joint costs Sales value at split-off B1 9,600 ? $94,000 Total 50,400 $342,000 $704,000 $365,000 $244,000 Required: Assuming that Joint product costs are allocated using the net realizable value at split-off approach, what was the joint cost allocated to product M1? (Do not round intermediate calculations.) Joint cost of product M1