Ray, Inc., is a large food-processing company. It processes 155,000 pounds of peanuts in the peanuts department at a cost of $151,000 to yield 20,000 pounds of product A, 50,000 pounds of product B, and 18,000 pounds of product C. (Click the icon to view the information.) The company wants to make a gross margin of 10% of revenues on product C and needs to allow 20% of revenues for marketing costs on product C. An overview of operations follows: (Click the icon Read the requirem i Figure 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 co Let's begin by determining the formula to compute the joint costs allocated for product by entering the appropriate amounts. Separable Costs - Joint Costs $151,000 = Joint costs allocated 20,000 pounds Salting Department Processing $20,000 Salted Peanuts 20,000 pounds S6/1b Requirements Peanuts Department Processing of 155,000 lb Raw Peanuts 50,000 pounds $8/1b Joint costs Net realizable value Number of units Revenue Separable processing cost Weighting Total costs 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. 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. Paste Department Processing $12.000 2. Peanut Butter 18,000 pounds $5/1b 18,000 pounds Splitoff Point More Info Print Done Print Done Choose from any Product A is processed further in the salting department at a cost of $20,000. It yields 20,000 pounds of salted peanuts, which are sold for $6 per pound. Product B (raw peanuts) is sold without further processing at $8 per pound. Product C is considered a byproduct and is processed further in the paste department at a cost of $12,000. It yields 18,000 pounds of peanut butter, which are sold for $5 per pound. 13 parts I remaining Check