Question: Using the approximate relative sales value method, determine the joint cost allocated to each product. Problem 1: Cracker Refining Company (Joint Costs) Cracker Refining Company

Using the approximate relative sales value method, determine the joint cost

Using the approximate relative sales value method, determine the joint cost allocated to each product.

Problem 1: Cracker Refining Company (Joint Costs) Cracker Refining Company produces 3 different chemicals: X, Y and Z. A batch costing $23,750 produces the following: Chemicals Gallons Produced Unit Sales Price 12,500 5,000 10,000 Additional Cost beyond split-off $10,000 5,000 15,000 $4.00 8.00 3.50 (1) Using the approximate relative sales value method, determine the joint cost allocated to each product. (1 point)

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