Physical and sales value allocations FINS produces three products from its fish farm: fish, fish oil, and fish meal. During July, FINS produced the following average quantities of each product from each pound (16 ounces) of fish processed: Obtained from each Product Pound of Fish Fish 8 ounces Fish oil Fish meal Total 14 ounces Of each pound of fish processed, two ounces are waste (assume 12.5% for calculations). In July, FINS processed 37.5 tons of fish (1 ton equals 2,000 pounds). Joint cost amounted to $142,800. On average, each pound of product has the following selling prices: fish, $4.50; fish oil, $6.50; and fish meal, $2 4 ounces 2 ounces a. Allocate the joint cost using weight as the basis. Note: Round proportions to the nearest whole percentage and dollar amounts to the nearest whole dollar. $ Fish Fish Oil Fish Meal 81,396 41,412 19,992 142,800 Total $ b. Allocate the joint cost using sales value as the basis. Note: Round proportions to the nearest whole percentage and dollar amounts to the nearest $ $ a. Allocate the joint cost using weight as the basis. Note: Round proportions to the nearest whole percentage and dollar amounts to the nearest whole dollar. Fish 81,396 Fish Oil 41,412 Fish Meal 19,992 Total 142,800 b. Allocate the joint cost using sales value as the basis. Note: Round proportions to the nearest whole percentage and dollar amounts to the nearest whole dollar Fish 186,938 x Fish Oil 135,011 X Fish Meal 20,771 X Total 342,720 x $ $