Homework: Chapter 16 Homework Score: 0 of 1 pt P16-28 (similar to) The Rainbow Oil Company buys crude vegetable oil. Refining this oil results in four products at the splitoff point. A, B, C, and D. Product C is fully processed by the splitoff point. Products A, B, and D can individually be further refined into Super Save 2 of 4 (0 complete) HW Score: 0%, 0 of 4 pts Question Help * A, Super B, and Super D. In the most recent month (December), the output at the splitoff point was as follows: (Click the loon to view the information.) Read the requirements. Requirement 1. Compute the gross-margin percentage for each product sold in December, using the different methods for allocating the $60,000 joint costs. a. Sales Value at Splitoff. Begin by entering the amounts in the table and allocate the joint costs. (Enter the weights to four decimal places.) More Info Sales value of total Joint costs production at splitoff Weighting allocated Product A, 253,000 gallons Product B, 92,000 gallons Product C, 69,000 gallons Product D, 46,000 gallons The joint costs of purchasing adcessing t the crude vegetable cil were $60,000. Rainbow had no beginning or ending inventories. Sales of product C in December were $60,000. Products A, B, and D were further refined and then scld Data related to December are as follows: Requirements Separable Processing Costs to Make Super Products Revenues 1. Compute the gross-margin percentage for each product sold in December Super A $ Super B Super D 271,000 34,000 5,000 400,000 100,000 50,000 S using the following methods for allocating the $60,000 jcint costs: a. Sales value at splitoff C. NRV Could Rainbow have increased its December operating income by making different decisions about the further processing of products A, B, or D? Show the effect on operating income of any changes you recommend. Rainbow had the option of selling products A, B, and D at the splitoff point. This alternative would have yielded the following revenues for the December production: 2. Enter any number in the edit fields and then click Check Product A, $50,000 -Product B, $30,000 .Product D, $60,000 10 partaining PrintDone