Allocate the joint costs using the physical output method.

Q 1 LMN Company produces three products K, L and M During the year, the joint costs of processing the three products were $480,000. Production and sales value information were as follows: ....Sales Product........units.........at Split-off.........separable Costs.......selling Price .$13 per unit........$6.OO per unit........$40 per unit .soo,ooo...... .$12per unit.........$4.OO per unit..........$37 per unit .............300,OOO....... .38 per unit...........$3.OO per unit..........$28 per unit M.... ..........200,000....... Allocate the joint costs using the physical output method.