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Cherry Dot Company processes tomatoes into ketchup, tomato juice, and canned tomatoes. During the summer of 2 0 2 0 , the joint costs of
Cherry Dot Company processes tomatoes into ketchup, tomato juice, and canned tomatoes. During the summer of the joint costs of processing the tomatoes were $ The company maintains no inventories. Production and sales information for the summer is as follows:Data tableProductKetchupJuiceCannedCasesSales Value at Splitoff Point$ per case$ per case$ per caseSeparable Costs$ per case$ per case$ per caseSelling Price$ per case$ per case$ per caseReference ProductFinal SalesValueTotalSeparableCostsNetRealizableValueKetchup$Juice $ $CannedPercentage SJoint Costs$Costs AllocatedTotalSeparableCosts $$Total ProductCostsNow, determine the gross margin allocated to each product using the table below, and then calculate the joint costs allocated to each product if Cherry Dot uses the constant grossmargin percentage NRV method.FinalGrossGrossSalesMarginMarginProductValuePercentageAllocatedKetchupJuiceCannedTotals
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