The separable production cost method is not a method used to allocate joint costs to joint products. There is no such thing as "separable production cost method."
The net realizable value method (or estimated net realizable value method) is a method used to allocate joint costs to joint products. It is used if one or more of the joint products must be processed beyond the splitoff point in order to be sold. It may also be used under certain circumstances if one or more of the joint products may be processed beyond the splitoff point in order to increase its value above the selling price at the splitoff point. The estimated NRV for a product to be processed further is calculated as: Sales price of items produced that will be sold in the future ? Separable costs that are incurred after the splitoff point = Estimated Net Realizable Value
The physical quantities method (or physical unit method) is a method used to allocate joint costs to joint products. Joint-costs are allocated based on the actual number of units of each of the products produced. In addition to using the physical number of units, this allocation may be done based on the weight, volume or other physical measure of the joint products.
The relative sales value at splitoff method (or gross market value method) is a method of allocating joint costs to joint products. Joint costs are allocated on the basis of the sales values of each product at the splitoff point, relative to the total sales value of all the joint products.
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