Q4 The Wood Spirits Company produces two products- turpentine and methanol (wood alcohol) by a joint process. Joint costs amount to $120,000 per batch of output. Each batch totals 10,000 gallons: 25% methanol and 75% turpentine. Both products are processed further without gain or loss in volume. Separable processing costs are methanol, S3 per gallon, and turpentine, $2 per gallon. Methanol sells for $21 per gallon. Turpentine sells for $14 per gallon. Required: If joint costs are allocated on an NRV basis, how much of the joint costs will be allocated to turpentine and to methanol? (20% oft est)