Manitoba Soy Products (MSP) buys soy beans and processes them into other soy products. Each tonne of soy beans that MSP purchases for $260 can be converted for an additional $210 into 600 lbs of soy meal and 140 gallons of soy oil. A pound of soy meal can be sold at splitoff for $1.28, and soy oil can be sold in bulk for $4.5 per gallon MSP can process the 600 lbs of soy meal into 700 lbs of soy cookies at an additional cost of $320. Each pound of soy cookies can be sold for $2.28 per Requirement 1a. Allocate the joint cost to the cookies and the Soyola using the sales value at splitoff method. (Round the weightings to three decimal places and joint costs to the nearest dollar) Cookies/ Soy Soyola! Soy Meal Oil Total Sales value of total production at splitoff S Weighting 768 $ 0.549 630 $ 1,398 0.451 1.000 Joint costs allocated 258 $ 212 S 470 b. Allocate the joint cost to the cookies and the Soyola using the net realizable value method (Round the weightings to three decimal places and joint costs to the nearest dollar) Final sales value of total production Deduct separable costs Net realizable value Weighting Joint costs allocated Cookies Soyola Total