Prince Edward Island Soy Products (PESP) buys soy beans and processes them into other soy products. Each tonne of soy beans that PESP purchases for $280 can be converted for an additional $200 into 575Ibs of soy meal and 140 gallons of soy oil. A pound of soy meal can be sold at splitoff for $1.28, and soy oil can be sold in bulk for $4.25 per gallon. PESP can process the 575lbs of soy meal into 675lbs of soy cookies at an additional cost of $300. Each pound of soy cokies can be sold for $2.28 per pound. The 140 gallons of soy oil can be packaged at a cost of $270 and made into 560 quarts of Soyola. Each quart of Soyola can be sold for $1.15. Required 1. Allocate the joint cost to the cookies and the Soyola using: a. Sales value at splitoff method b. NRV method 2. Should the company have processed each of the products further? What effect does the allocation method have on this decision