logan company manufactures one main product and 2 by products, a and b.

for april, the following data

are available: main by-product product a b total sales p75,000 p6,000 p3,500 p84,500 manufacturing
cost after separation p11,500 p1,100 p900 p13,500 marketing and administrative expenses 6,000 750
550 7,300 manufacturing cost before split of 37,500 profit allowed for a and b is 15% and 12%
respectively required: 1. calculate manufacturing cost before separation for by-products a and b, using
market value reversal cost method. 2. prepare and income statement detailing sales and cost for each
product