Question: Joint Cost Allocation using the Sales Value at Split-off Method with By-Product and Scrap : A company produces two joint products, P and Q, and

Joint Cost Allocation using the Sales Value at Split-off Method with By-Product and Scrap: A company produces two joint products, P and Q, and generates scrap S from a common production process. The total joint production costs up to the split-off point are $300,000. The final sales values for products P and Q are $200,000 and $100,000, respectively. Allocate the joint production costs to each product using the sales value at split-off method, considering the by-product and scrap.

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