Lankip Companyproduces two main products and a byproduct out of a joint process. The ratio ofoutput quantities to input quantities of direct material used in the jointprocess remains consistent from month to month. Lankip has employed thephysical-volume method to allocate joint production costs to the two mainproducts. The net realizable value of the byproduct is used to reduce the jointproduction costs before the joint costs are allocated to the main products.Data regarding Lankip's operations for the current month are presented in thechart below. During the month, Lankip incurred joint production costs of USD2,520,000.The main products are not marketable at the split-off point and, thus, have tobe processed further. First Main Product Second Main Product Byproduct Monthly output in pounds 90,000 150,000 60,000 Selling price per pound USD30 USD14 USD2 Process costs USD540,000 USD660,000 The amount ofjoint production cost that Lankip would allocate to the Second Main Product byusing the physical-volume method to allocate joint production costs would be:
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