pound of soy meal can be sold at splitoff for $$1\mathrm{.}28$ and soy oil can be sold in bulk for $$4\mathrm{.}75$ per gallon.

made into $480$ quarts of Soyola. Each quart of Soyola can be sold for $$1\mathrm{.}25.$

Requirement $1.$ Allocate the joint cost to the cookies and the Soyola using the $($a$)$ Sales value at splitoff method and $($b$)$ NRV method.

a$.$ First, allocate the joint cost using the Sales value at splitoff method. $($Round the weights to three decimal places and joint costs to the nearest dollar.$)$

b$.$ Now allocate the joint cost to the cookies and the Soyola using the NRV method. $($Round the weights to three decimal places and joint costs to the nearest dollar.$)$

Requirement $2.$ Should ASP have processed each of the products further? What effect does the allocation method have on this decision?

Begin by calculating the profit or loss that would occur if ASP processed the products further. $($Use parentheses or a minus sign for losses.$)$