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Dont understand how to do this! Help Required information SB (Static) The following...

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Accounting

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Dont understand how to do this! Help

Required information SB (Static) The following information relates... [The following information applies to the questions displayed below.] The following information relates to a joint production process for three products, with a total joint production cost of $100,000. There are no separable processing costs for any of the three products. Brief Exercise 7-19 (Static) Assume that the total sales value at the split-off... [LO 7-6, 7-7] Assume that the total sales value at the split-off point for product 1 is $50,000 instead of $130,000 and the sales value of product 3 is $2,000 instead of $20,000. Assume also that, because of its relatively low sales value, the firm treats product 3 as a by-product and uses the asset recognition method for accounting for by-products. What amount of joint cost would be allocated to the products using the sales value at split-off method

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