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Chocolate Worid purchases chocolate liquor base and processes it up to the split-off point where...

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Accounting

Chocolate Worid purchases chocolate liquor base and processes it up to the split-off point where two products (cocoa powder and milk chocolate) 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 November
Chocolate liquor base used ,100,000 gallons
Production
Cocoa powder 29,000lbs
Milk chocolate 30,000 lbs
Sales value
Cocoa powder 29,000lbs, at $0.40 per
pound
Milk chocolate 30,000lbs. at $1.00 per pound
The cost of purchasing 100,000 gallons of chocolate liquor base and processing it up to the split-off point was $15,000. Chocolate World's accounting department reported no beginning inventories and an ending inventory 1,000 pounds of cocoa powder. If the sales value at split-off method is used, what is the approximate joint costs assigned to milk chocolate?
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