REQUIREMENT 3: Now use the table below to calculate the allocated costs per pound for the breasts and thighs.(round the weights to three decimal places, the joint costs to the nearest cent and the allocated costs per pound to four decimal places.)

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Reference of ry ts Breast Wings Thighs Bones Feathers Total Pounds of product Wholesale selling price 100 20 40 80 10 le $ 0.60 $ 0.15 $ 0.45 $ 0.15 $ 0.10 per pound Sales value at splitoff 60.00$ 3.00$ 18.00 $ 12.00$ 100 $ 94.00 Weighting: Sales Value at splitoff 0.638 0.032 0.191 0.128 0.011 1.000 Joint costs allocated $ 31.90 1.60 $ 9.55 $ 6.40 $ 0.55 $ 50.00 Allocated costs per pound $ 0.3190 $ 0.0800 $ 0.2388 $ 0.0800 $ 0.0550 Ch Print Done Clear All Farm Grown Chicken grows and processes chickens. Each chicken is disassembled into five main parts. Farm Grown Chicken is computing the ending inventory values for its July 31, 2017, balance sheet. Ending inventory amounts on July 31 are 10 pounds of breasts, 6 pounds of wings, 8 pounds of thighs, 4 pounds of Farm Grown Chicken's management wants to use the sales value at splitoff method. However, management wants you to explore the effect on ending inventory values of classifying one or more products as a byproduct rather than a joint product. bones, and 2 pounds of feathers Click to view information on the sales value at splitoff method.) Read the requirements Requirement 1. Assume Farm Grown Chicken classifies all five products as joint products. What are the ending inventory values of each product on July 31, 2017? (Round your answers to the nearest cent. Enter an amount for each product including zero balances.) Product Breasts Wings Thighs Bones Feathers Total Ending inventory value Enter any number in the edit fields and then click Check Answer Requirement 2. Assume Organic Chicken uses the production method of accounting for byproducts. What are the ending inventory values for each joint product on July 31, 2017, assuming breasts and thighs are the joint products and wings, bones, and feathers are byproducts? Begin by selecting the formula to calculate the joint costs to be allocated. Then enter the amounts and determine the amount. (NRV Net Realizable Value.) Joint costs NRV of byproducts Joint costs to be allocated Breast Thighs Total Pounds of product Wholesale selling price per pound Sales value at splitoff Weighting: Sales value $ at splitoff Joint costs allocated Allocated costs per pound the ro