E16-28 (similar to) Idaho Soy Products (ISP) buys soybeans and processes them into other soy products. Each ton additional $170 into 650 lbs of soy meal and 80 gallons of soy oil. A pound of soy meal can be so gallon ISP can process the 650 pounds of soy meal into 800 pounds of soy cookies at an additional co The 80 gallons of soy oil can be packaged at a cost of $250 and made into 320 quarts of Soyola. Read the requirements a. First, allocate the joint cost using the Sales value at splitoff method. (Round the weights to thre Cookies/ Soy Meal 728 Soyolal Soy Oil 425 Total 1153 Sales value of total production at splitoff oduction at splitoff Weighting Joint costs allocated 0.631 0.367 Enter any number in the edit fields and then click Check Answer 4 parts Clear All + remaining complete) HW Score: 20%, 1 of 5 Question Help ducts. Each ton of soybeans that ISP purchases for $250 can be converted for an meal can be sold at splitoff for $1.12 and soy oil can be sold in bulk for $4.25 per In additional cost of $340. Each pound of soy cookies can be sold for $2.12 per pound. juarts of Soyola. Each quart of Soyola can be sold for $1.55. e weights to three decimal places and joint costs to the nearest dollar.) 0 Requirements 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 ISP have processed each of the products further? What effect does the allocation method have on this decision