Data pertaining to a company's joint production for the current period follows L M Quantities produced 320 lbs 160 lbs Market value at split off point $ 8 lb $ 16 lb Compute the cost to be allocated to Product L for this period's $756 of joint costs if the value basis is used (Do not round intermediate calculations )

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Question: Data pertaining to a company's joint production for the current period follows: L M Quantities produced 320 lbs. 160 lbs. Market value at split-off point

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

	L			M
Quantities produced		320	lbs.		160	lbs.
Market value at split-off point	$	8	/lb.	$	16	/lb.

Compute the cost to be allocated to Product L for this period's $756 of joint costs if the value basis is used. (Do not round intermediate calculations.)

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