Red Sauce Canning Company processes tomatoes into catsup, tomato juice, and canned tomatoes. During the summer of 2018, the joint costs of processing the tomatoes were $420,000. There was no beginning inventory for the summer. Production and sales information for the summer is as follows: Product Production Sales Sales value at Separable Final Selling Price (# of cases) (# of cases) Splitoff point (per case) Costs (per case) (per case) Catsup 100,000 85,000 $6.00 $4.00 $22.00 Catsup Pre Juice 150,000 130,000 $8.00 $5.00 $25.00 Juice Premi Canned 200,000 160,000 $5.00 $2.00 $10.00 Canned Pre Required: a. Determine the amount allocated to each product if the estimated net realizable value method is used. b. Compute the cost per case for each product. Complete the following product-line partial income statement for each product Product-line Income Statement by using NRV Catsup method Premium Juice Premium Canned Premium Revenues (units sales selling price) 1,870,000 3,250,000 1,600,000 Cost of goods sold Joint costs 118,125 196,875 105,000 Separable costs 400,000 750,000 400,000 Production costs 518,125 946,875 505,000 Deduct ending inventory 77,718.75 126,250 101,000 Cost of goods sold 440,406.25 820,625 404,000 Gross margin 1,429,593.75 2,429,375 1,196,000 Gross margin percentage 76% 75% 75%