In a joint process The Lagasse Company produces four super high end sauces: Spicy Tomato, Ultra Fancy Tomato, Garlic Tomato, and Regular Tomato. Ultra Fancy Tomato cannot be sold at the split off point so it has to be processed further. Regular Tomato does not have an option to be processed further. The remaining products may be sold at its split-off point or processed further. Joint processing costs for a single batch of the joint products are $126,000. Other relevant data are as follows: Total Sales Total Sales Additional Liters Value Value of Product Produced At Split-Off Processing Final Costs Product Regular Tomato 12800 $59,405 $0 $59,405 Ultra Fancy 15000 $0 15,000 62,524 Tomato Garlic Tomato 25000 71,286 28,000 90,784 Spicy Tomato 12000 51,700 10,000 69,405 Total 64.800 $182.391 $53.000 $282.118 REQUIRED 1. Determine which products should be processed further. 2. If it is determined to not process a product further, it will be sold at the split off point (see your answer to part 1). Allocate the joint cost to the four primary products using the approximated net realizable value method (round to whole dollars). 3. If all liters of each of the four sauces are sold what is the gross profit of each product.