E16-21 (similar to) Is Question Help Farm Grown Chicken grows and processes chickens. Each chicken is disassembled into five main parts. Information pertaining to production in July 2017 is as follows: E: (Click the icon to view the information.) A special shipment of 75 pounds of breasts and 10 pounds of wings has been destroyed in a fire. Farm Grown Chicken's insurance policy provides reimbursement for the cost of the items destroyed. The insurance company permits Farm Grown Chicken to use a joint-cost-allocation method. The splitoff point is assumed to be at the end of the production process. Joint cost of production in July 2017 was $50 Requirements 1. Compute the cost of the special shipment destroyed using the following: a. Sales value at splitoff method b. Physical-measure method (pounds of finished product) 2. What joint-cost-allocation method would you recommend Farm Grown Chicken use? Explain. Requirement 1a. Compute the cost of the special shipment destroyed using the sales value at splitoff method. Complete the table below to assist you. (Round the weighting to three decimal places and the allocated costs per pound to Breast Wings Thighs Bones Feathers Total Pounds of product R 125 30 30 60 5 Wholesale selling price per pound $ 0.45 $ 0.25 $ 0.40 $ 0.05 $ 0.05 Sales value at splitoff O O O O O O Weighting: Sales value at splitoff Joint costs allocated Allocated costs per pound Data Table Parts Breast Wings Thighs Pounds of Wholesale Selling Price per Pound Product When Production is complete 125 $ 0.45 0.25 0.40 0.05 0.05 Bones Feathers Enter any number in the edit fields and then click Check Answer. 4 parts Print Done 4 remaining Check