Hi I need you to answer the questions in the file attached thank you.

TATE CORPORATION TATE CORPORATION processes lumber products for sale to lumber wholesalers. Its most popular line is oak products. Oat tree growers sell Pacific Lumber whole trees. These trees are jointly processed up to the split off point, at which raw select oak, raw white oak, and raw knotty oak become separable products. Each raw product is then separately further processed by TATE into finished products (select oak, white oak, and knotty oak) that are sold to lumber wholesalers. Data for February 2015 are: 1. Joint processing costs (including the cost of oak trees): $300,000. 2. Separable products at the split off point: Raw select oak: 30,000 board feet Raw white oak: 50,000 board feet Raw knotty oak: 20,000 board feet 3. Final products produced: Select oak: 25,000 board feet at $16 per board foot White oak: 40,000 board feet at $9 per board foot Knotty oak: 15,000 board feet at $7 per board foot 3. Ending inventory: Select oak: 1,000 board feet White oak: 2,000 board feet Knotty oak: 500 board feet 4. Separable processing costs For select oak: $60,000 For white oak: $90,000 For knotty oak: $15,000 There is an active market for raw oak products. Selling prices available in February 2013 were: Raw select oak: $8 per board foot Raw white oak: $4 per board foot Raw knotty oak: $3 per board foot REQUIRED: 1. Allocate the joint costs to the three products, using Physical weights method Sales value at split off method Net realizable value method 2. What is the February 2015 ending inventory for each of the finished products? 3. What is the major weakness in using the physical weights method? There are big differences in the value of joint products. Revenues are a better indicator of benefits received than physical measures. One example given in the textbook is that mining companies receive more benefit from 1 ton of gold than they do from 10 tons of coal. 4. Under what circumstances should the net realizable value method be used rather than the sales value at split off method? Net realizable value method should be used when one or more products cannot be sold at the split-off point and will be processed longer. The net realizable value method allocates joint costs based on forcasted sales values because there may not be a ready market for the product at the split-off point. 5. Is TATE maximizing her total February 2013 operating income by fully processing each raw oak product into its finished product form? Show computations