Volker Inc. (Volker) is a manufacturer of industrial cleaning products. The manufacturing process for one of Volker's products (SCXX) also produces an industrial solvent (FX45) and a by-product. The by-product is inventoried at its net realizable value, and this net realizable value is used to reduce the joint production costs before the joint production costs are allocated to SCXX and FX45. Information regarding Volker's operations for 2019 are as follows: By-product 130,000 120,000 SCXX FX45 Sales (litres) 1,500,000 900,000 Production at split-off point (litres) 1,600,000 850,000 Final production (litres) 1,650,000 1,000,000 Sales value per litre at split-off $3.60 $2.45 Additional processing costs $2,500,000 $1,100,000 Final sales value per litre $6.10 $4.75 *Disposal costs of $0.20 per litre are incurred to sell the by-product. $1.10 $0.20 per litre During 2019. Volker incurred joint production costs of $2.908,000 Volker has NO opening or ending inventories in 2019. and uses the net realizable value method to allocate joint production costs. Required: a) Determine the cost per litre for each of SCXX and FX45 (6 marks) b) Describe the other commonly used method that Volker could use to account for its by-product (1 mark)