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Sales value and physical value allocation To-Go produces milk and sour cream from a...

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Accounting

Sales value and physical value allocation
To-Go produces milk and sour cream from a joint process. During June, the company produced 624,000 quarts of milk and 494,000 pints of sour cream (there are two pints in a quart). Sales value at split-off point was $981,240 for the milk and $461,760 for the sour cream. The milk was assigned $327,080 of the joint cost. Note: Round proportions to the nearest whole percentage and dollar amounts to the nearest whole dollar.
a. Using the sales value at split-off approach, determine the total joint cost for June. $
b. Assume, instead, that the joint cost was allocated based on the number of quarts produced. What was the total joint cost incurred in June? $
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