Joint cost allocation net realizable value method Nature's Garden Inc. produces wood chips, wood pulp, and mulch. These products are produced through harvesting trees and sending the logs through a wood chipper machine. The following data is provided: DATA Cubic Yards per Batch Joint product Wood chips Wood pulp Mulch Market Value per Cubic Yard at Split-Off $22 27 20,932 9,254 14,800 Market Price per Cubic Yard $22 37 40 Added Cost per Cubic Yard Joint Costs $0 $39,000 $5 39,000 4 39,000 30 Using formulas and cell references, perform the required analysis, and input your answers into the B, C, D, E, F, and G columns. Use the blue entry cells (B14:F16, E17) for intermediate calculations. Transfer the numeric results for the green entry cells (G14:G17) into the appropriate fields in CNOWv2 for grading. Total Market Value at Split-Off Formulas Greater of Total NRV and Market Value at Split-Off Net Realizable Value per Cubic Yard Total Net Realizable Value Proportion Allocation Joint product Wood chips Wood pulp Mulch Totals Joint cost allocation - net realizable value method Nature's Garden Inc. produces wood chips, wood pulp, and mulch. These products are produced through harvesting trees and sending the logs through a wood chipper machine. One batch of logs produces 20,932 cubic yards of wood chips, 14,800 cubic yards of mulch, and 9,254 cubic yards of wood pulp. The joint production process costs a total of $39,000 per batch. After the split-off point, wood chips are immediately sold for $22 per cubic yard while wood pulp and mulch are processed further. The market value of the wood pulp and mulch at the split-off point estimated to be $27 and $30 per cubic yard, respectively. The additional production process of the wood pulp costs $5 per cubic yard, after which it is sold for $37 per cubic yard. The additional production process of the mulch costs $4 per cubic yard, after which it is sold for $40 per cubic yard. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. Open spreadsheet Allocate the joint costs of production to each product using the net realizable value method. Do not round intermediate calculations. Round your answers the nearest dollar. Joint Product Allocation Wood chips Wood pulp Mulch Totals