Question 1: Determine the amount allocated to each product if the estimated net realizable value method is used and compute the cost per case for each product. (10 points) Question 2: Determine the amount of joint cost allocated to each product if the physical-measure method is used. (10 points) Question3: Determine the value of ending inventory if the sales value at splitoff method is used for product costing. Round to three decimal places when necessary. (10 points) -->>Document attached

Problem 1 - Red Sauce Canning Company processes tomatoes into catsup, tomato juice, and canned tomatoes. During the summer of 2013, the joint costs of processing the tomatoes were $600,000. There were no beginning or ending inventories for the summer. Production and sales value information for the summer is as follows: Product Cases Sales Value at Splitoff Point Separable Costs Selling Price Catsup 125,000 $6.25 per case $3.20 per case $29.00 per case Juice 175,000 $8.25 per case $5.20 per case $26.25 per case Canned 250,000 $5.25 per case $2.70 per case $11.00 per case Question: Determine the amount allocated to each product if the estimated net realizable value method is used and compute the cost per case for each product. (10 points) Problem 2 - Zenon Chemical, Inc. processes pine rosin into three products: turpentine, paint thinner, and spot remover. During June, the joint costs of processing were $380,000. Production and sales value information for the month is as follows: Units Produced Sales Value at Splitoff Point Turpentine 8,500 liters $85,000 Paint thinner 6,500 liters $55,250 Spot remover 4,000 liters $34,000 Product Question: Determine the amount of joint cost allocated to each product if the physical-measure method is used. (10 points) Problem 3 - Oregon Lumber processes timber into four products. During February, the joint costs of processing were $380,000. There was no inventory at the beginning of the month. Production and sales value information for the month is as follows: Sales Value at Product Board feet Splitoff Point Ending Inventory 2 x 4's 6,500,000 $0.35 per board foot 650,000 bdft. 2 x 6's 3,500,000 $0.45 per board foot 280,000 bdft. 4 x 4's 2,500,000 $0.50 per board foot 100,000 bdft. Slabs 1,500,000 $0.20 per board foot 75,000 bdft. Question: Determine the value of ending inventory if the sales value at splitoff method is used for product costing. Round to three decimal places when necessary. (10 points)