Innerval Soy Products (TSP) buys soybeans and processes them into other soy products. Each ton of soybeans that TSP purchases for $380 can be converted for an additional $210 Into 700 lbs of soy meal and 120 gallons of soy oil. A pound of soy meal can be sold at splitoff for 51.44 and soy oil can be sold in bulk for 54 25 per gallon TSP can process the 700 pounds of soy meat into 750 pounds of soy cookies at an additional cost of 5320. Each pound of soy cookies can be sold for 52.44 per pound. The 120 gallons of soy oil can be packaged at a cost of $276 and made into 480 quarts of Soyola. Each quart of Soyola can be sold for $1.55, Read the outcomten Cookies/ Requirement 1. Allocate the joint cost to the cookles and the Soyola using the (6) Sales value at spitaff method and (b) NRV method a. First, allocate the joint cost using the Salen value at splitoff method. (Round the weights to three decimal places and joint costs to the nearest dollar) Soyolal Soy Meal Soy Out Sales value of total production at splitoff Weighting Joint costs allocated Total Help me solve this Etext pages Get more help Clear all Check answer dll 120 yalions of soy oil. A pound of soy meal can be sold at splitoff for $1.44 and soy oil can be sold in bulk for $4 25 700 pour ns of soy Requirements can be sold for $2.44 per sold for $1.55 als cate the la Joint cost 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? e nearest dollar) al productil Print Done ted ghs mu RV asty ento Innerval Soy Products (TSP) buys soybeans and processes them into other soy products. Each ton of soybeans that TSP purchases for S380 can be converted for an additional s210 Into 700 lbs of soy meal and 120 gallons of soy oil. A pound of soy meal can be sold at splitoff for 51.44 and soy oil can be sold in bulk for 54 25 per gallon TSP can process the 700 pounds of soy meal into 750 pounds of soy cookies at an additional cost of $320. Each pound of soy cookies can be sold for $2.44 per pound. The 120 gallons of soy all can be packaged at a cost of $276 and made into 480 quarts of Soyola. Each quart of Soyola can be sold for 51.55. Read the content acts mul RV Total duc Requirement 1. Allocate the joint cost to the cookies and the Soyola using the (a) Sales value at splitoff method and (b) NRV method cate 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) nd tt hen Cookies! Soyolal Soy Meal Soy Oil Sales value of total production at splitoff int Weighting Joint costs allocated TO anowe