Question: Data pertaining to a company's joint production for the current period follows: L M Quantities produced 280 lbs. 210 lbs. Market value at split-off point

Data pertaining to a company's joint production for the current period follows:

L M Quantities produced 280 lbs. 210 lbs. Market value at split-off point $ 9.00 /lb. $ 18.00 /lb.

Compute the cost to be allocated to Product L for this period's $720 of joint costs if the value basis is used.

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