a) Cooking Oil Inc. produces two grades of cooking oil: light and extra-light. They recently processed 6,000 pints of oil at a cost of $12,000. From this process 4,000 pints of light and 2,000 pints of extra-light were produced. Light sells for $2 a pint and extra-light sells for $3.50 a pint. Required: Allocate the $12,000 between the two grades using the relative sales value method. b) Beltram, Inc. produces three products from a common set of inputs for $95,000. Other sales and cost data follow: Q: Determine which products should be sold at the split-off point and which should be processed further