Chapter 16 Cost Allocation: Joint Products and Byproducts Instant Foods Co. Instant Foods produces two types of microwavable productsbeef-flavoured ramen and shrimp-flavoured ramen. The two products share common inputs such as noodles and spices. The production of ramen results in a waste product referred to as stock, which Instant dumps at negligible costs in a local drainage area. In June 2020, the following data were reported for the production and sales of beef-flavoured and shrimp-flavoured ramen: Joint Costs Joint costs (costs of noodles, spices, and other inputs and processing to splitoff point) $240,000 Beef Ramen Shrimp Ramen Beginning inventory (tonnes) 0 0 Production (tonnes) 10,000 20,000 Sales (tonnes) 10,000 20,000 Selling price per tonne $10 $15 Due to the popularity of its microwavable products, Instant decides to add a new line of products that targets dieters. These new products are produced by adding a special ingredient to dilute the original ramen and are to be sold under the names Special B and Special S, respectively. The monthly data for all the products follow: Joint Costs Special B Special S Joint costs (costs of noodles, spices, and other inputs and processing to splitoff point) $240,000 Separable costs of processing 10,000 tonnes of beef ramen into 12,000 tonnes of Special B $48,000 Separable cost of processing 20,000 tonnes of shrimp ramen into 24,000 tonnes of Special S $168,000 Beef Ramen Shrimp Ramen Special B Special S Beginning inventory (tonnes) 0 0 0 0 Production (tonnes) 10,000 20,000 12,000 24,000 Transfer for further processing (tonnes) 10,000 20,000 Sales (tonnes) 12,000 24,000 Selling price per tonne $10 $15 $18 $25 Required Calculate Instants gross margin percentage for Special B and Special S when joint costs are allocated using: a. Sales value at splitoff method. b. Physical measure method. c. Net realizable value method. please explain