Exercise $11-45($Algo$)$ Allocation of Joint Costs $--$ Net Realizable Value and Physical Quantities Methods $($LO $11-3)$

Milo Manufacturing produces products Kappa and Lambda from a joint process. Total joint costs are $$167,000.$ The sales value at split$-$off was $$174,240$ for $8,000$ units of Kappa and $$63,280$ for $12,000$ units of Lambda.

Required:

What joint costs are allocated to the two products using the net realizable value at split$-$off approach?

Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amounts.

What joint costs are allocated to the two products using the physical quantities method?

Note: Do not round intermediate calculations. Exercise $11-45($Algo$)$ Allocation of Joint Costs $--$ Net Realizable Value and Physical Quantities Methods $($LO $11-3)$

Milo Manufacturing produces products Kappa and Lambda from a joint process. Total joint costs are $\backslash (\backslash$$ $167,000\backslash ).$ The sales value at split$-$off was $\backslash (\backslash$$ $174,240\backslash )$ for $8,000$ units of Kappa and $\backslash (\backslash$$ $63,280\backslash )$ for $12,000$ units of Lambda.

Required:

a$.$ What joint costs are allocated to the two products using the net realizable value at split$-$off approach?

Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amounts.

b$.$ What joint costs are allocated to the two products using the physical quantities method?

Note: Do not round intermediate calculations.