Exhibit 7-9 Doughnuts Company uses flour to produce two joint products, Premium and Deluxe. When processed, each pound of flour yields 8 units of Premium and 12 units of Deluxe. Premium doughnuts sell for $1.00 per unit and Deluxe sell for $2.00 per unit. The total cost to process a 10-pound batch of flour is $12.00. Refer to Exhibit 7-9. If the physical quantities method is used to allocate the $12 in joint costs, how much will be allocated to Premium doughnuts? Group of answer choices $10.00 $7.20 $6.00 $4.80 None of the answer choices is correct