Newfoundland and Labrador Soy Products (NSP) buys soy beans and processes them into other soy products. Each tonne of soy beans that NL SP purchases for $250 can be converted for an additional $200 into 700 lbs of soy meal and 140 galons of soyoll. A pound of soy meal can be sold at splitoff for $1.44, and soy oil con be sold in bulk for $4.25 per gallon NLSP can process the 700 lbs of soy meal into 750 lbs of soy cookies at an additional cost of $320. Each pound of soy cookies can be sold for $2.44 per pound. The 140 gallons of soy oil can be packaged at a cost of $220 and made into 560 quarts of Soyola. Each quart of Soyola can be sold for $1.36. Required 1. Allocate the joint cost to the cookies and the Soyola using a. Sales value at splitol method b. NRV method 2. Should the company have processed each of the products further? What effect does the allocation method have on this decision? Requirement 1a. Allocate the joint cost to the cookies and the Soyola using the sales value at spilltof method. (Round the weightings to three decimal places and joint costs to the nearest dollar) Cookies Soyolal Soy Meal Soy Oil Total Sales value of total production at splitoff Weighting Joint costs allocated