Ontario Soy Products (OSP) buys soy beans and processes them into other soy products. Each tonne of soy beans that OSP purchases for $340 can be converted for an additional $200 into 600 lbs of soy meal and 120 gallons of soy oil. A pound of soy meal can be sold at splitoff for $1.24, and soy oil can be sold in bulk for $4.75 per gallon. OSP can process the 600 lbs of soy meal into 700 lbs of soy cookies at an additional cost of $340. Each pound of soy cookies can be sold for $2.24 per pound. The 120 gallons of soy oil can be packaged at a cost of $200 and made into 480 quarts of Soyola. Each quart of Soyola can be sold for $1.15. Required 1. Allocate the joint cost to the cookies and the Soyola using: a. Sales value at splitoff 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