Question: After allocating the joint process costs to its two joint products, Allomar Co. reports gross margin percentages of 30% for Product A and 40% for

After allocating the joint process costs to its two joint products,

After allocating the joint process costs to its two joint products, Allomar Co. reports gross margin percentages of 30% for Product A and 40% for Product B. Sales reported for each product were $25,000 for Product A and $60,000 for Product B. Neither of the two products were processed beyond the split-off point. Calculate the total amount of joint costs assigned between the two products. Assuming Allomar used the physical quantities method to allocate the joint costs, what percentage of the total production volume did Product B represent? (Round answer to 2 decimal places, e.g. 15.25\%.) Proportion of joint costs assigned to product B %

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