Question: Hello, could you please assist me in determining this split off value question? Thank you so much in advance. Question 2, Problem 2 (10 marks)

Hello, could you please assist me in determining this split off value question? Thank you so much in advance.

Hello, could you please assist me in determining this split off value

Question 2, Problem 2 (10 marks) The Leeman Company has a joint production process that produces two joint products and a by-product. The joint products are Bing and Bang, and the by-product is Bong. Band can be sold at the split of point but Bing cannot be sold without further processing. There is a $1,000 disposal cost for the by-product. Sales of the by-product are not recorded and the Joint costs allocated are net of costs recovered via the by-product. Joint costs in the month ended September 30, 2019 were $325,000 of which $175,000 was variable. Selected details from the month ended September 30, 2019: Bing Bang Bong Units Sold 60,000 35,000 20,000 Units Produced 50,000 40,000 20,000 Additional Processing Costs - Variable $137,000 Additional Processing Costs - Fixed $13,000 Sales Price $7.00 $15.00 $1.30 Required: a) What would be the unit cost value of Bing and Bang if joint costs were allocated using the sales value at split off method? b) What would be the unit cost value of Bing and Bang if joints were allocated using the net realizable value method

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