Use excel

Required: Calculate how much of the joint costs should be allocated to each product using the market value at split off method.

Problem 1 Milwaukee Dairy Company produces cream, whole milk, and 2% milk. The joint cost of producing the three products is SAR 30,000. The split-off quantities and selling prices of each product are as follows: Split-off Quantity (Gallons) Price at Split off (SAR) Cream 500 20.00 Whole milk 4,500 12.000 2% milk 1,000 6.001