Phillips Paints manufactures three types of paint in a joint process: rubberized paint, rust-proofing paint, and aluminum paint. In a standard batch of 500,000 gallons of raw material, the outputs are 240,000 gallons of rubberized paint, 80,000gallons of rustproofing paint, and 180,000 galions of aluminum paint. The production cost of a batch is $2,700,000. The sales prices per gallon are $15,$18, and $20 for rubberized, rust-proofing, and aluminum paint, respectively. Required a. Complete the spreadsheet to allocate joint costs to the three products using the number of gallons as the allocation base. b. Include formulas in your spreadsheet to calculate the gross margin for each type of paint. Navigation: 1. Use the Open Excel in New Tab button to launch this question. 2. When finished in Excel, use the Save and Return to Assignment button in the lower right to return to Connect A B C. D E F G Allocation based on gallons loint cost to be allocated Rubberized Rust-proofing Aluminum Allocation rate per gallon Calculation of gross margin: Selling price \begin{tabular}{|l|l|l|} \hline Rubberized & Rusteproofing & Aluminum \\ \hline \end{tabular} Sales Cost of goods sold 28. Gross margin