Vibrant Ltd. A manufacturing company produces one main product A mad two by-products M and N. For the month of May, 2018, following details are available: Total Cost upto separation point$ 2,20,000....

Extracted text: Vibrant Ltd. A manufacturing company produces one main product A mad two by-products M and N. For the month of May, 2018, following details are available: Total Cost upto separation point$ 2,20,000. Product/By-product A M N Cost after separation No. of units produced Selling price per unit Estimated net profit as percentage to sales value Estimated selling expenses as percentage to sales value $35000 $24000 4,000 1,800 3,000 $100 $40 $30 20% 30% 20% 15% 15% There is no beginning or closing inventories. Required: Prepare statement showing: 1. Allocation of joint cost; and 2. Product-wise and overall profitability of the company for May, 2018.