Question 3: (10 points) B1, C1 During 2019 Zoom Company produced two kinds of products after splitoff point (CI, HI) the joint cost was $40,000 and the separable cost was cl $20,000; HI $80,000 Instruction: If you have the following information: Before splitoff Point Processing after (Joint Cost) splitoff point (Separable Cost) Item CI HI Beginning Inventory 0 0 0 0 Production during the 45.000 75,000 30,000 40,000 period) Ending Inventory 10,000 20,000 Sales 20,000 20,000 Selling price per Gallon 12 20 40 0 0 12 1- Allocate the joint cost to the products (use net realizable value) Item CI HI Total Sales value Separable cost Net realizable cost Allocating Rate Joint Cost Allocated Cost Allocated per unit 2- Calculate the gross profit margin rate (GMR). Item CI HII Total Sales revenue COGS Gross profit Margin GMR