Joint products and by-products - problems with solutions

Problem-1: Market value method for joint cost allocation and reversal cost method for by products

Problem-2: Market value at the split-off point for joint cost allocation

Problem-3: joint cost allocation; sell immediately or process further

Problem-4: Three methods of allocating joint costs

Problem-5: Joint product costing – constant gross margin percentage method

Problem-6: Sales-to-production-ratio method of joint cost allocation