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Qres Question 1 Creative Hub Limited, produces two types of non-alcoholic drinks, Star and Moon. The joint process costs for the two products (Star and Moon) is 3,000. The joint product costing information of the two products is as follows: Output of joint product Star Output of joint product Moon Selling price/kg of Star Selling price/kg of Moon 1,000 kg 5,000 kg 11.10 f0.55 Required: Prepare a joint product costing statement using physical units as the basis of apportionment. (5 marks) b. Prepare a joint product costing statement using sales value as the basis of apportionment. (5 marks) C. Describe the contribution or gross margin method of joint cost apportionment. (3 marks) Discuss the usefulness of the contribution or gross margin method when measuring product profitability. (2 marks) d. Total: 15 marks