Yip Manufacturing purchases trees from Cheney Lumber and processes them up to the splitoff point where two products $($paper and pencil casings$)$ are obtained. The products are then sold to an independent company that markets and distributes them to retail outlets. The following information was collected for the month of May:$$

Trees processed:$100$ trees $($yield is $70,000$ sheets of paper and $60,000$ pencil casings and no scrap$)$

Production:paper$70,000$ sheets

pencil casings$60,000$

Sales:paper$68,000$ at $$0\mathrm{.}04$ per page

pencil casings$60,000$ at $$0\mathrm{.}10$ per casing$$

The cost of purchasing $100$ trees and processing them up to the splitoff point to yield $70,000$ sheets of paper and $60,000$ pencil casings is $$3,000.$

Yip's Manufacturing's accounting department reported no beginning inventories and an ending inventory of $2,000$ sheets of paper.$$

If the sales value at splitoff method is used, what are the approximate joint costs assigned to ending inventory for paper?

Question $20$Answer

a$.$

$$27\mathrm{.}27$

b$.$

$$28\mathrm{.}58$

c$.$

$$32\mathrm{.}19$

d$.$

$$762\mathrm{.}90$

e$.$

$$954\mathrm{.}60$