Use the following information for the next 6 questions.
J-M Company uses a joint process costing $15,000 to produce three main products. The company had no beginning inventory. Its current period operation data follow: 
-If J-M uses the sales value at split-off point method and sells products at the split-off point, what is the gross profit for product T?
Definitions:
Leverage Ratio
A financial indicator that measures the extent of a company's reliance on borrowed funds in its capital structure.
Liquidity Ratios
Financial metrics used to determine an organization's ability to pay off its short-term debts with its liquid assets.
Exchange Rates
The value of one currency for the purpose of conversion to another, influencing international trade and investment.
Consolidated Financial Statements
Consolidated Financial Statements are financial reports that combine the financial position, results of operations, and cash flows of a parent company and its subsidiaries into one document.
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