Please help, cost accounting

4. St. Thomas Oi 4 Gas, a larpe anergy onnglomerale, jointy intermediate products. ICRA, EvCi, and xoty. These intermediate of toperating lisome. No neer tax in to be paid en natural gas bruirfis products are Surther processed teparatily to produce cruste oil. natural gas llquids (NCL), and natural got (measured in lipuil] or naturat gas. equivalenta). trolick the icers th wele adsiticnat infornation.) SiClick the icon to virw the overvierw.) Read the iecuicirisctari. Requirement. 1. Allocate the August 2020 joint cost arnong the trree products uting the (a) phypicas measure mechod and (o) lerv method. First, allocale the August 20e0 joint cost using the physical-measure method. (Plound the weig) th to five decimal places and joint costs to the nearest pent.) Now allocate the joint cost among the three products using the NfV method. (Round the ecighis to frwe decirral placess and joint cosis to the nearest cent.) Requirement 2. Show the operating income for each product using the methods in requirement 1. Begin with the physical-moasure mothod. (Use parentheses or a minus sign lor negative gross margins. Einter the joint costs to the mearest oent) Now show the operating incorne for each product using the NRV method. fUse parentheses or a mirvs sign for nogafive gross margins. Enter the joint costs to the nearest cent.) Requirement 3. Discuss the pros and cons of the two methods to St. Thomas Oil \& Gas for making decisions about product emphasis (pricing, sell-or-process-further decisions, and so on). (1) used for product emphasis decisions. It is (2) to use joint-cost-allocated data to make decisions regarding dropping individual products, or pushing individual products. Product-emphasis decisions should be made based on (3) 5: Overview of the process and results. An overview of the process and results for August 2020 are shown here (Note: The numbers are small to keep the focus on key conce 6: More info Starting August 2020, St. Thomas Oil 8 Gas must report a separate product-line income statement for crude oil. One challenge facin Thomas Oil \& Gas is how to allocate the joint cost of producing the three separate salable outputs. Assume no beginning or endi ventory