Innovation Soy Products (DSP) buys soybeans and processes them into other say products Each ton of soybeans that DSP purchases for $280 can be converted for an additional $200 into 550 lbs of soy meal and 180 tons of soy oil pound of soy meal can be soldats $1 28 and soy oil can be sold in bulk for $4.25 per gallon DSP can process the 550 pounds of soy meal into 600 pounds of soy cookies at an additional cost of $330. Each pound of soy cookies can be sold for $228 per pound The 180 gallons of say or can be packaged at a cost of $70 and made into 720 quarts of Sayalo Each quar Soyola can be sold for $1.35 Read the autrements 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 spintoff 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 spilio Weighting Joint costs allocated b. Now allocate the joint cost to the cookies and the Soyola using the NRV method (Round the weights to three decimal places and joint costs to the nearest dollar) Cookies Soyola Tota Final sales value of total production Deduct separable costs Net realizable value Weighting Joint costs allocated Requirement 2. Should DSP have processed each of the products further? What effect does the allocation method have on this decision? Enter any number in the edit fields and then continue to the next question Type here to search Deduct separable costs Net realizable value Weighting Joint costs allocated Requirement 2. Should DSP have processed each of the products further? What effect does the allocation method have on this decision? Begin by calculating the profit or loss that would occur if DSP processed the products further. (Use parentheses or a minus sign for losses) Cookies/ Soy Meal Soyolal Soy Oil Sell at splitoff Revenue Process further NRV Profit (Loss) from processing further DSP should the soy meal because it profit. They should the soy oil because profit will Since the total joint cost is under both allocation methods it a relevant cost to the decision to sell at splitoff or process further Enter any number in the edit fields and then continue to the next question O Type here to search