4. Red Sauce Canning Company processes tomatoes into catsup, tomato juice, and canned tomatoes. During the summer of 2018, the joint costs of processing the tomatoes were $420,000. There was no beginning inventory for the summer. Production and sales information for the summer is as follows: Product Catsup Juice Canned Production (# of cases) 100,000 150,000 200,000 Sales (# of cases) 80,000 120,000 150.000 Sales Value at Splitoff Point Separable Costs $6 per case $3.00 per case 8 per casel 5.00 per case 5 per case 2.50 per case Final Selling Price Catsup Premium $23 per case Juice Premium $25 per case Canned Premium $7.5 per case Required: a. Determine the amount allocated to each product if the estimated net realizable value (NRV) method is used. b. Compute the cost per case for each product. c. Complete the following product-line partial income statement for each product (excel template is provided). Product-line Income Statement by using NRV method Catsup Juice Canned Revenues Cost of goods sold Joint costs Separable costs Production costs Deduct ending inventory Cost of goods sold Gross margin Gross margin percentage