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 $197,120. Per Unit Incremental Units of Selling Price Processing Final Sales Product Output at Split-Off Cost Price Honey butter 16,000 4.00 $3.00 $6.00 Honey jam 32,000 6.40 4.00 14.00 Honey syrup 1,600 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 Answer Honey jam Answer Honey syrup Answer 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 Answer Honey jam Answer Total Answer (2) joint cost allocated based on weight Honey butter Answer Honey jam Answer Total Answer (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 Answer Honey jam Answer Total