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Xerxes Chemical, Inc., processes pine rosin into three products: turpentine, paint thinner, and spot remover. During May, the joint costs of processing were $240,000. Production

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Xerxes Chemical, Inc., processes pine rosin into three products: turpentine, paint thinner, and spot remover. During May, the joint costs of processing were $240,000. Production and sales value information for the month is as follows: Required: 1. Determine the amount of joint cost allocated to each product if the physical-measure method is used. 1. Determine the amount of joint cost allocated to each product if the sales value at split-off method is used

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