1. ExxonMobil processes with joint cost $2,000,000, producing Product X (40,000 gallons) and Y (20,000 gallons).
   • Requirements:
     • Allocate joint costs using the physical units method and the net realizable value method.
     • Calculate the cost per gallon for each product.
     • Prepare a joint cost allocation report.
     • Analyze the advantages and disadvantages of each allocation method.