need help asap pls

The Spokane Recycling Company (SRC) purchases old water and soda bottles and recycles them to produce plastic covers for outdoor furniture. The company processes the bottles in a special piece of equipment that first melts, then reforms the plastic into large sheets that are cut to size. The edges from the cut pieces ar sold for use as package fillet. The filler is considered a byproduct SRC can produce 24 table covers, 80 chair covers and 9 pounds of package filler from 100 pounds of bottles Click the icon to view additional information) Read the requirements Requirement 1. Assume that SRC allocates the joint costs to table and chair covers using the sales value at splitoff method and accounts for the byproduct using the production method. What is the ending inventory cost for each product and gross margin for SRC? First, allocate the joint costs (Round the weighting values to two decimal places) Chair Table Covers Covers Total Sales values at splitoff Weighting Joint costs allocated in a special piece of equipment that first melts. then reforms the plastic into large sheets that are cut to size. The edges from the cu ge filler. The filter is considered a byproduct SRC can produce 24 table covers, 80 chair covers and 9 pounds of package filler from View additional X More info In June, SRC had no beginning inventory. It purchased and processed 170.000 pounds of bottles at a cost of $680,000. SRC sold 24.000 table covers for $9 each, 79.000 chair covers for $12 each and 6,000 pounds of package filler at $0 80 per pound ume that SRO od! What is the the byprodu at costs Round Pant Done CO fitoff x Requirements sume that od What unts nt costs 1. Assume that SRC allocates the joint costs to table and chair covers using the sales value at splitoff method and accounts for the byproduct using the production method. What is the ending inventory cost for each product and gross margin for SRC? 2. Assume that SRC allocates the joint costs to table and chair covers using the sales value at splitoff method and accounts for the byproduct using the sales method. What is the ending inventory cost for each product and gross margin for SRO 3. Discuss the difference between the two methods of accounting for byproducts. focusing on what conditions are necessary to use each method litoff ted Print Done