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Variety Manufacturing Corporation produces three products made of stainless steel: plates, spoon and forks, and knives. Joint costs for July 2019 total P500,000. Other information

Variety Manufacturing Corporation produces three products made of stainless steel: plates, spoon and forks, and knives. Joint costs for July 2019 total P500,000. Other information are shown below:

Units

Costs After

Split-Off

Ultimate Market Value

Plates

3,000

P100,000

P300,000

Spoon and fork

4,000

150,000

550,000

Knives

3,000

250,000

450,000

Using the average unit cost method of joint costs allocation, determine the total cost of producing products Plates, Spoon and fork, and Knives, respectively.

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