Rouse Oil \& Gas, a large energy conglomerate, jointly processes purchased hydrocarbons to generate three nonsalable intermediate products: ICR8, A federal law that has recently been passed taxes crude oil at 30% of operating income. No new tax is to be paid on natural gas liquids or natural gas. and XGE3. These intermediate products are further processed separately to produce crude oil, natural gas liquids (NGL), and natural gas (measured i liquid equivalents). Requirement 1. Allocate the August 2020 joint cost among the three products using the (a) Physical-measure method and (b) NRV method. 1. Allocate the August 2020 joint cost among the three products using First, allocate the August 2020 joint cost using the physical-measure method. (Round the weights to five decimal places and ioint costs to the nearest cent.) the following: a. Physical-measure method b. NRV method. 2. Show the operating income for each product using the methods in 3. Discusement 1. Discuss the pros and cons of the two methods to Rouse Oil \& Gas for making decisions about product emphasis (pricing, sell-or-processfurther decisions, and so on). More info Starting August 2020, Rouse Oil \& Gas must report a separate product-line income statement for crude oil. One challenge facing Rouse Oil \& Gas is how to allocate the joint cost of producing the three separate salable outputs. Assume no beginning or ending inventory