E16-28 (similar to) 2 of Innova Soy Products (NSP) buys soybeans and processes them into other soy products. Each ton of soybeans that soy meal can be sold at splitoff for $1 and soy oil can be sold in bulk for $4.5 per gallon. NSP can process the 525 pounds of soy meal into 575 pounds of soy cookies at an additional cost of $300. Each po 400 quarts of Soyola. Each quart of Soyola can be sold for $1.45. Read the requirements. 525 Requirement 1. Allocate the joint cost to the cookies and the Soyola using the (a) Sales value at splitoff method an a. First, allocate the joint cost using the Sales value at splitoff method. (Round the weights to three decimal places Cookies! Soyolal Soy Meal Soy Oil Total Sales value of total production at splitoff 300 825 0 Require Weighting .636 .364 1.00 Joint costs allocated 1. Allocate a. Sal b. NR 2. Should the allc ter any number in the edit fields and then click Check Answer Each ton of soybeans that NSP purchases for $280 can be converted for an additional $190 into 525 lbs of soy meal and 100 gallons of soy oil. A pour itional cost of $300. Each pound of soy cookies can be sold for $2 per pound. The 100 gallons of soy oil can be packaged at a cost of $260 and made in value at splitoff method and (b) NRV method. its to three decimal places and joint costs to the nearest dollar.) Requirements Question 1. Allocate the joint cost to the cookies and the Soyola using the following: a. Sales value at splitoff method b. NRV method 2. Should NSP have processed each of the products further? What effect does the allocation method have on this decision? o Question Help Irva Soy Product (NSP) buy soybeans and processes them into other way products Eachon of soybeans that NSP purchases for $280 can be converted for a $100 a $25 bs of sy meland 100 gallons of soy meal can be sold at spill for $1 and wool can be sold in bu for $45 per gallon pound NSP con process the 25 pounds of some o 75 pounds of cookies national cost of $.300. Each pound of soy cookies can be sold for $2 pound. The 100 gallons of wool can be packaged acf 1260 and made it 400 quarts of Soyote. Each quart of Soyols can be sold for $145 Read the timents Requirement 1. Acade their clothes a fost alocate the costing the Bales volu and the Seasing these method and m en und wer dens and method to enter Cookies Soy Meal Soy Ol tof Sales value of total production of s Weighting Joint costs allocated Requirements 1. Allocate the cool to the cookies and the Soyle using the following: 2. Should NSP have processed each of the products further? What rect does the allocation method have on this decision