Butterfly Corp. manufactures products M1 and M2 from a joint process, which also yields a...
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Accounting
Butterfly Corp. manufactures products M1 and M2 from a joint process, which also yields a by-product, B1. Butterfly accounts for the revenues from its by-product sales as other income. Additional information follows:
M1
M2
B1
Total
Units produced
24,900
13,700
9,500
48,100
Allocated joint costs
?
?
?
$
353,000
Sales value at split-off
$
378,000
$
252,000
$
97,000
$
727,000
Required:
Assuming that joint product costs are allocated using the net realizable value at split-off approach, what was the joint cost allocated to product M1? (Do not round intermediate calculations.)
Joint cost of product M1
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