Question 2 Fair Manufacturing Company produces two main products and a by-product out of a joint process. The net realizable value of the by-product is used to reduce the joint production costs before the joint costs are allocated to the main products. Data regarding Fair 's operations for the current month are presented in the chart below. During the month, Fair incurred joint production costs of $2,520,000. The main products are not marketable at the split-off point and, thus, have to be processed further. Product A 90,000 Product B By-product 150,000 60,000 100,000 Monthly output in pounds Sale of January 2021 in pounds Selling Price per pound Separable process costs 40,000 $30 $14 $2 $540,000 $660,000 Required 1. Compute the joint costs per pound that will be allocated to Product A and Product B, 2. Prepare product-line income statements for the month of January 2021, assuming that joint costs are allocated based on: the number of pounds at splitoff point, b. an NRV basis, constant gross-margin percentage NRV method. a. c