Processing beyond split-off and cost allocations All-A-Buzz makes three products from a joint production process using honey. Joint cost for the process for the year is $344,960. Per Unit Incremental Units of Selling Price Processing Final Sales Product Honey butter Output 28,000 at Split-Off Cost Price 4.00 $3.00 $6.00 Honey jam 56,000 6.40 4.00 14.00 Honey syrup 2,800 3.00 0.40 3.60 Each container of honey butter, jam, and syrup, respectively, contains 16 ounces, 8 ounces, and 3 ounces of product. a. Determine which products should be processed beyond the split-off point. Process Further? Honey butter No Honey jam Yes Honey syrup Yes b. Assume honey syrup should be treated as a by-product. Allocate the joint cost based on (1) units produced, (2) weight, and (3) sales value at split-off. Use the net realizable value approach, assuming by- product revenues reduce joint production costs. (1) joint cost allocated based on units produced Honey butter $ Honey jam Total 112,000 224,000 $ 336,000 (2) joint cost allocated based on weight Honey butter $ Honey jam Total 224,000 112,000 $ 336,000 (3) joint cost allocated based on sales value at split-off Note: Round proportions to the nearest whole percentage and dollar amounts to the nearest whole dollar. Honey butter $ Honey jam Total 80,000 256,000 $ 336,000