Red Sauce Canning Company processes tomatoes into catsup, tomato juice, and canned tomatoes. During the summer of 20x3, the joint costs of processing the tomatoes were $420,000. There was no beginning or ending inventories for the summer. Production and sales value information for the summer were as follows: Product Cases Sales Value at Splitoff Point Separable Costs Selling Price Catsup 100,000 $6 per case $3.00 per case $28 per case Juice 150,000 8 per case 5.00 per case 25 per case Canned 200,000 5 per case 2.50 per case 10 per case Required: 1. Determine the amount allocated to each product if the estimated net realizable value method is used, and compute the cost per case for each product. 2. For each of the following methods of allocating joint costs, give a positive and a negative aspect of selecting each one to allocate joint costs. a. Sales value at splitoff b. Estimated net realizable value method c. A physical measure such as volume Question 9 (15 Marks) 4