Rain, Inc., is a large food-processing company. It The company wants to make a gross margin of 10% of processes 159,000 pounds of peanuts in the peanuts revenues on product C and needs to allow 20% of department at a cost of $254,500 to yield 30,000 pounds revenues for marketing costs on product C. An of product A, 78,000 pounds of product B, and 15,000 overview of operations follows: pounds of product C. i (Click the icon to view the information.) (Click the icon to view the overview.) Read the requirements. Requirement 1. Compute unit costs per pound for products A, B, and C, treating C as a byproduct. Use the NRV method for allocating joint costs. Deduct the NRV of the byproduct produced from the joint cost of products A and B. Let's begin by determining the formula to compute the joint costs allocated for product C by entering the appropriate amounts. Joint costs allocatedFigure Joint Costs Separable Costs $254,500 30,000 pounds Salting Department Salted Peanuts Processing 30,000 pounds $24.000 $6/1b Peanuts Department Raw Peanuts Processing 78,000 pounds of 159,000 lb $8/1b Paste Department Peanut Butter Processing 15,000 pounds $14.000 $7/1b 15,000 pounds Splitoff PointX Requirements 1. Compute unit costs per pound for products A, B, and C, treating C as a byproduct. Use the NRV method for allocating joint costs. Deduct the NRV of the byproduct produced from the joint cost of products A and B. 2. Compute unit costs per pound for products A, B, and C, treating all three as joint products and allocating joint costs by the NRV method. Print Done