Colts company manufactures three products from a joint process. Joint costs for the year amount to $500,000. The following data are available:
Number of units produced: Product A:5,000 Product B:4,000 Product C:1,000
Sales Price per Unit Product A:$6 Product B:$10Product C:$10
In addition the following weights were available:
Number of units produced: Product A:5,000 Product B:4,000 Product C:1,000
Weight per Unit: Product A:10 lbs Product B:20lbs Product C:30lbs
Using the relative sales value method, determine the amount of joint costs allocated to each product