Module 8 Exercises Question 4, E16-21 (similar to) Farm Grown Chicken grows and processes chickens. Each chicken is disassembled into five main parts. Information pertaining to production in July 2017 is as follows: (Click the icon to view the information.) Joint cost of production in July 2017 was $60. Part 1 of 5 HW Score: 40%, 8 of 20 points Points: 0 of 12 Save A special shipment of 40 pounds of breasts and 20 pounds of wings has been destroyed in a fire. Farm Grown Chicken's insurance policy provides reimbursement for the cost of the items destroyed. The insurance company permits Farm Grown Chicken to use a joint-cost-allocation method. The splitoff point is assumed to be at the end of the production process. Read the requirements Requirement 1a. Compute the cost of the special shipment destroyed using the sales value at splitoff method. Complete the table below to assist you. (Round the weighting to three decimal places and the allocated costs per pound to four decimal places. Round all other amounts to the nearest cent.) Pounds of product Wholesale selling price Breast Wings Thighs Bones Feathers Total 125 25 35 55 10 Requirements per pound $ 0.55 $ 0.15 $ 0.40 $ 0.15 $ 0.05 Sales value at splitoff Weighting: Sales value at splitoff Joint costs allocated Allocated costs per pound 1. Compute the cost of the special shipment destroyed using the following: a. Sales value at splitoff method b. Physical-measure method (pounds of finished product) 2. What joint-cost-allocation method would you recommend Farm Grown Chicken use? Explain. Print Done - X