Please Help. The answers I put are incorrect
The Creme de Cacao Edibles Factory manufactures and distributes chocolate products. (Click the icon to view more information about Creme de Cacao.) Production and sales data for Atnjust 2020 are as follows (assume no beginning inventory) (Click the icon to view the data.) Read the requirements. Requirement 1. Calculate how the joint costs of $60,000 would be allocated between chocolate powder and milk chocolate under the different methods. a. Sales value at splitoff method. Begin by entering the appropriate amounts to allocate the joint costs. (Round the weighting amounts to four decimal places.) It purchases cocoa beans and processes them into two intermediate products: chocolate-powder liquor base and milk-chocolate liquor base. These two intermediate products become separately identifiable at a single splitoff point. Every 1,000 pounds of cocoa beans yields 30 gallons of chocolate-powder liquor base and 45 gallons of milk-chocolate liquor base. The chocolate-powder liquor base is further processed into chocolate powder. Every 30 gallons of chocolate-powder liquor base yield 700 pounds of chocolate powder. The milk-chocolate liquor base is further processed into milk chocolate. Every 45 gallons of milk-chocolate liquor base yield 1,120 pounds of milk chocolate. - Cocoa beans processed, 20,000 pounds - Costs of processing cocoa beans to splitoff point (including purchase of beans), $60,000 Creme de Cacao Edibles Factory fully processes both of its intermediate products into chocolate powder or milk chocolate. There is an active market for these intermediate products. In August 2020, Creme de Cacao Edibles Factory could have sold the chocolate-powder liquor base for $24 a gallon and the milk-chocolate liquor base for $64 a gallon 1. Calculate how the joint costs of $60,000 would be allocated between chocolate powder and milk chocolate under the following methods: a. Sales value at splitoff b. Physical measure (gallons) c. NRV d. Constant gross-margin percentage NRV 2. What are the gross-margin percentages of chocolate powder and milk chocolate under each of the methods in requirement 1 ? 3. Could Creme de Cacao Edibles Factory have increased its operating income by a change in its decision to fully process both of its intermediate products? Show your computations. b. Allocate the joint costs using the physical measure method. Begin by entering the appropriate amounts to allocate the joint costs. (Round the weighting amounts to four decimal places.) c. Allocate the joint costs using the NRV method. Begin by entering the appropriate amounts to allocate the joint costs. (Round the weighting amounts to four decimal places. Round the joint costs allocated to the nearest whole dollar.) d. Constant gross-margin percentage NRV method. Begin by entering the appropriate amounts to allocate the joint The overall gross-margin percentage for all joint products together is Now determine the formula to compute the joint costs allocated, then enter the appropriate amounts. (Round your answers to the nearest whole dollar.) Requirement 3. Could Creme de Cacao Edibles Factory have increased its operating income by a change in its decision to fully process both of its intermediate products? Show your computations. (Use parentheses or a minus sign when entering decreasing amounts.) Begin by determining the formula to compute the increase/(decrease) in operating income, then enter the appropriate amounts. Creme de Cacao Edibles Factory could increase operating income if chocolate-powder liquor base is and if milk-chocolate liquor base is further processed into milk chocolate
