Orchard Fresh, Inc., purchases apples from local orchards and sorts them into four categories. Grade A are large blemish free apples that can be sold to gourmet fruit se ers. Grade B apples are smaller and may be slightly out of proportion. These a grocery stores. Apples for slices are even smaller than Grade B apples and have blemishes. Apples for applessuce are of lower grade than apples for slices, yet still suitable for canning. Information on a recent purchase of 20,000 pounds of apples is as follows: Assume that Orchard Fresh, Incr uses the sales-value-at-split-off method of joint cost allocation and has provided the following information about the four grades of apples are packed in boxes and sold to Price at Split-Off Pounds (per lb.) Grades Grade A400$4.00 Grade 8,1.00 Slices,00.50 Applessuce 5,600 0.10 Total 20,000 Total joint cost is $21,000 Required 1. Allocate the joint cost to the four grades of apples using the sales-value-at-split-off method. Round your allocation percentages to four decimal places and round the allocated costs to the nearest dollar Joint Cost Grades Grade A Grede B Slices Applessuce Total 2. What if the pnce at split-off cf Grade B apples increased to $1.20 per pound? How would that a allocated costs to the nearest dollar ect the allocation of cost to Grade B apples? How would t affect the allocation of cost to the remaining grades? Round youallocation percentages to four dec mal places and round t Joint Cost Grades Grade A Grade B Slices Total