Imperial Mining is a coal company that produces three grades of coal-High, Medium, and Low-in fixed proportions. The joint costs of mining total $1,725,000. In a typical month, the company will mine 20,400 tons of High-Grade, 30,600 tons of Medium-Grade, and 10,200 tons of Low-Grade coal. Market prices have been relatively stable at $60 per ton for High-Grade, $40 per ton for Medium- Grade, and $10 per ton for Low-Grade. There are no costs to refine the individual grades of coal once it is mined. Required: a. What is the reported profitability for each grade assuming the physical quantities method is used to allocate the joint cost of production? b. What is the reported profitability for each grade assuming the net realizable value method is used to allocate the joint cost of production? Complete this question by entering your answers in the tabs below. Required A Required B What is the reported profitability for each grade assuming the physical quantities method is used to allocate the joint cost of production? High-Grade Medium-Grade Low-Grade Total Quantity (tons) Price/ton Revenue (NRV) Allocated joint cost Product profit/loss 1 $ $ 0 $ 0 $ 0 $ Required A Required B >