Innervai Soy Products (TSP) buys soybeans and processes them into other soy products. Each ton of soybeans that TSP purchases for $320 can be converted for an additional $200 into 525 lbs of soy meal and 180 gallons of soy oil. A pound of soy meal can be sold at splitoff for $1.04 and soy oil can be sold in bulk for $4.5 per gallon. TSP can process the 525 pounds of soy meal into 575 pounds of soy cookies at an additional cost of $340. Each pound of soy cookies can be sold for $2.04 per pound. The 180 gallons of soy oil can be packaged at a cost of $260 and made into 720 quarts of Soyola. Each quart of Soyola can be sold for $1.35. Read the requirements. Requirement 1. Allocate the joint cost to the cookies and the Soyola using the (a) Sales value at splitoff method and (b) NRV method. a. First, allocate the joint cost using the Sales value at splitoff method. (Round the weights to three decimal places and joint costs to the nearest dollar.) Cookies/ Soyola/ Soy Meal Soy Oil Total Sales value of total production at splitoff Weighting Joint costs allocatedRequirements 1. Allocate the joint cost to the cookies and the Soyola using the following: a. Sales value at splitoff method b. NRV method 2. Should TSP have processed each of the products further? What effect does the allocation method have on this decision? Print Doneb Now Blockis the join boost to the cookies and ho Sopola using the KRY manhod [Round them places and joint cous to the Cookies Total Final sodas volun of bold production Duduct sparable coul Requires ant 2. Should DSP have propssend such of the products further? What offed does ta allocation method have on fix dadivian? Begin by calculsing the profit or lose the would woour HOSP processed the products father. (has parmihoses or's minus sign for losses.) Say Moal SoTO1 Procase Mother: NAY Profit Loss) from processing further