British Columbia Soy Products (BCSP) buys soy beans and processes them into other soy products. Each tonne of soy beans that BCSP punchases for $280 can be converted for an additional $190 into 575 lbs of soy meal and 80 gallons of soy oil. A pound of soy meal can be sold at splitoff for $1.44, and soy oil can sold in buk for $4 per gallon 2.44 per pound. The 80 gallons of soy oil can be packaged at a cost of $220 and made into 320 quarts of Soyola. 625 lbs of sov cookies at an additional cost of 350 Each pound of sov.cookies can be spkd for: Each auat of Sounla can be sold for $1.15 Required . Allocate th joint cost to the cookies and the Soyala using: b uE e t splitoff method Should the company have processed each of the products turther? What ettect does the allocaton method have on this decision? Requirement 1a. Allocate the joint cost to the cookies and the Soyola using the sales value at splitoff method. (Round the weightingss to three decimal places and joint costs to the nearest dollar) Soyola Cookies/ Soy Meal Soy Oil Total Sales value f total production at splitoff Weighting Joint costs allocated b. Allocate the joint cost to the cookies and the Soyola using the net realizable value method. (Round the weightings to three decimal places and joint costs to the nearest dollar.) Cookies Sovola Total Final sales value of total production Deduct separable costs Net realizable value Weighting Joint costs allocated Requirement 2. Should the company have processed each of the products further? What effect does the allocation method have on this decision? Begin by caculating the profit or loss that would occur if BCSP processed the products further (Use parentheses or a minus Sign r losses) Cookies Soyola Soy Meal Soy Oil Sell at splitoff. Revenue Process further NRV Protit (Loss) trom processing further Should the company have processed each of the products further? What effect does the allocation method have on this decision? ofit BCSP should under both allocation methods, it because profit will BCSP should tecause doing sp Since the total joint cost is arelevant cost to the decision to sell at splitoff process further