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Maroon Ltd is a company that produces chemicals for the cleaning industry. One of its processes manufactures join products Y and Z, and by-product X. The company uses the net realizable value of its joint products to allocate joint production costs. The by-product is valued for inventory purposes at its market value less its disposal cost, and this value is used to reduce the joint production cost of P2,015,000. Information regarding the companys August 2020 operations are presented below:

In liters	Y	Z	X
Finished Goods inventory, August 1	30,000	100,000	40,000
August Sales	1,340,000	760,000	240,000
August Production	1,600,000	800,000	200,000
In Peso
Further Processing cost	1,400,000	1,520,000
Final Sales value per Liter	10	14
Sales value per liter at split off			2.40
Disposal Cost per liter			0.40

EXPLAIN HOW TO GET THESE ANSWER: SHOW SOLUTION PLEASE!!!

1.Calculate the unit cost per product and value of closing inventory for product Y (round off to whole number if rounding off is needed) ANSWER:176,030

2. Calculate the adjusted joint cost for allocation for August. ANSWER:1,615,000

3. Calculate the by-product income ANSWER: 400,000

4. Calculate the allocation of joint cost for August for product Z (use two decimal places) ANSWER: 643,871.5

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