Venezuela Oil Inc. transports crude oil to its refinery where it is processed into main products gasoline, kerosene, and diesel fuel, and by-product base oil. The base oil is sold at the split-off point for $1,000,000 of annual revenue, and the joint processing costs to get the crude oil to split-off are $10,000,000. Additional information includes:

Required:
Determine the allocation of joint costs using the net realizable value method, rounding the sales value percentages to the nearest tenth of a percent.

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Product Gasoline Kerosene Diesel fuel Barrels Produced 400,000 100,000 300,000 Cost After Split-Off $8,000,000 3,000,000 2,000,000 Selling Price Per Barrel S98 85 70