Requirement 1a. Allocate the $139,900 joint cost to the super-fine baking flour and the bread flour using the physical-measure method (using cups) of joint-cost allocation. (Round the weights to four decimal places. Round the joint costs allocated to the nearest whole dollar.) Physical measure of total production (in cups) Weighting Joint costs allocated $ Baking Flour 37,200 Bread Flour Total 111,600 0.7500 104,925 $ 148,800 139,900 0.2500 34,975 $ Requirement 1b. Allocate the $139,900 joint cost to the super-fine baking flour and the bread flour using the sales value at splitoff method of joint-cost allocation. (Round the weights to four decimal places. Round the joint costs allocated to the nearest whole dollar.) Baking Flour Bread Flour Total Sales value of total production at splitoff Weighting $ 143,220 $ 546,840 $ 690,060 0.2100 Joint costs allocated $ 29,379 $ 0.8000 111,920 $ 139,900 Requirement 1c. Allocate the $139,900 joint cost to the super-fine baking flour and the bread flour using the NRV method of joint-cost allocation. (Round the weights to four decimal places. Round the joint costs allocated to the nearest whole dollar.) Requirement 1c. Allocate the $139,900 joint cost to the super-fine baking flour and the bread flour using the NRV method of joint-cost allocation. (Round the weights to four decimal places. Round the joint costs allocated to the nearest whole dollar.) Super-Fine Baking Flour Bread Flour Total Final sales value of total production $ 189,720 $ 546,840 $ Deduct separable costs 37,200 $ Net realizable value at splitoff Weighting $ 152,520 $ 0.2200 Joint costs allocated 30,778 $ 546,840 $ 0.7900 110,521 $ 699,360 139,900 Requirement 1d. Allocate the $139,900 joint cost to the super-fine baking flour and the bread flour using the constant gross-margin percentage NRV method of joint-cost allocation. (Round the gross margin percentage to two decimal places, X.XX%. Round your answers to the nearest whole dollar.) Final sales value of total production Deduct gross margin, using overall gross-margin percentage of sales Total production costs Deduct separable costs Joint costs allocated Super-Fine Baking Flour Bread Flour Total NE Flour Company buys 1 input of standard flour and refines it using a special sifting process to 3 cups of baking flour and 9 cups of bread flour. In May, NE bought 12,400 inputs of flour for $91,500. NE spent another $48,400 on the special sifting process. The baking flour can be sold for $3.85 per cup and the bread flour for $4.90 per cup. 1 NE puts the baking flour through a second process so it is super fine. This costs an additional $1 per cup of baking flour and the process yields cup of super-fine baking flour for every one cup of baking flour used. The super-fine baking flour sells for $10.20 per cup. Required Requirement 1a. Allocate the $139,900 joint cost to the super-fine baking flour and the bread flour using the physical-measure method (using cups) of joint-cost allocation. (Round the weights to four decimal places. Round the joint costs allocated to the nearest whole dollar.) Physical measure of total production (in cups) Weighting Joint costs allocated me solve this Etext pages Calculator Baking Flour Bread Flour Total Required 1. Allocate the $139,900 joint cost to the super-fine baking flour and the bread flour using the following: a. Physical-measure method (using cups) of joint-cost allocation b. Sales value at splitoff method of joint-cost allocation c. NRV method of joint-cost allocation d. Constant gross-margin percentage NRV method of joint-cost allocation 2. Each of these measures has advantages and disadvantages; what are they? 3. Some claim that the sales value at splitoff method is the best method to use. Discuss the logic behind this claim. Print Done - Check answer