Problem 4 (Total: 15 marks) Daily Fresh Company buys apples and processes them into other apple products. Each ton of apples that Daily Fresh purchases for $350 can be converted for an additional $210 into 650 pounds of dried apples and 100 gallons of unsweetened apple juice. A pound of dried apples can be sold at splitoff for $1.32 and unsweetened apple juice can be sold in bulk for $4.50 per gallon. Daily Fresh can process the 650 pounds of dried apples into 750 pounds of apple cookies at an additional cost of $300. Each pound of apple cookies can be sold for $2.32 per pound. The 100 gallons of unsweetened apple juice can be packaged at a cost of $230 and made into 100 gallons of sweetened apple juice. Each gallon of sweetened apple juice can be sold for $4.60. Required: (i) (ii) Allocate the joint cost to the apple cookies and the sweetened apple juice using the following: (a) Sales value at splitoff method (5 marks) (b) Net realizable value method (5 marks) Should Daily Fresh Company have processed each of the products further? What effect does the allocation method have on this decision? (5 marks)