Yakima Manufacturing Purchases Trees from Cheney Lumber and Processes Them

Multiple Choice

Yakima Manufacturing purchases trees from Cheney Lumber and processes them up to the splitoff point where two products (paper and pencil casings) are obtained. The products are then sold to an independent company that markets and distributes them to retail outlets. The following information was collected for the month of May:

Yakima's Manufacturing's accounting department reported no beginning inventories and an ending inventory of 2,000 sheets of paper.
What are the paper's and the pencils' approximate weighted cost proportions using the sales value at splitoff method, respectively?

A) 33.33% and 66.67%
B) 50.00% and 50.00%
C) 31.82% and 68.18%
D) None of these answers is correct.