The Cocoa Nibs Edibles Factory manufactures and distributes chocolate products. i (Click the icon to view more information about Cocoa Nibs.) Production and sales data for August are as follows (assume no beginning inventory): i (Click the icon to view the data.) Required Requirement 1. Calculate how the joint costs of $66,000 would be allocated between chocolate powder and milk chocolate under the different methods. a. Sales value at splitoff method. Begin by entering the appropriate amounts to allocate the joint costs. (Round the weighting amounts to four decimal places.) Chocolate powder Milk chocolate Total Joint costs allocated b. Allocate the joint costs using the physical measure method. Begin by entering the appropriate amounts to allocate the joint costs. (Round the weighting amounts to four decimal places.) Joint costs allocated Chocolate powder Milk chocolate Total More info It purchases cocoa beans and processes them into two intermediate products: chocolate-powder liquor base and milk-chocolate liquor base. These two intermediate products become separately identifiable at a single splitoff point. Every 2,100 pounds of cocoa beans yields 40 gallons of chocolate-powder liquor base and 60 gallons of milk-chocolate liquor base. The chocolate-powder liquor base is further processed into chocolate powder. Every 40 gallons of chocolate-powder liquor base yield 660 pounds of chocolate powder. The milk-chocolate liquor base is further processed into milk chocolate. Every 60 gallons of milk-chocolate liquor base yield 1,080 pounds of milk chocolate. Print Done 1. Calculate how the joint costs of $66,000 would be allocated between chocolate powder and milk chocolate under the following methods: a. Sales value at splitoff b. c. Physical measure (gallons) NRV (Net Realizable Value) d. Constant gross-margin percentage NRV Xstion stion 2, Instructor-created question > HW Score: 0%, 0 of 75 points Points: 0 of 20 Production and sales data for August are as follows (assume no beginning inventory): (Click the icon to view the data.) r and m Round More info Cocoa beans processed, 31,500 pounds Costs of processing cocoa beans to splitoff point (including purchase of beans), $66,000 Chocolate powder Milk chocolate Production 9,900 pounds Sales 6,600 pounds Separable Selling Price Processing Costs 16,200 pounds $10 per pound $ 14,000 pounds $11 per pound $ 57,090 77,110 Cocoa Nibs Edibles Factory fully processes both of its intermediate products into chocolate powder or milk chocolate. There is an active market for these intermediate products. In August, Cocoa Nibs Edibles Factory could have sold the chocolate-powder liquor base for $42 a gallon and the milk-chocolate liquor base for $52 a gallon. Print Done 2. What are the gross-margin percentages of chocolate powder and milk chocolate under each of the methods in requirement 1? 3. Could Cocoa Nibs Edibles Factory have increased its operating income by a change in its decision to fully process both of its intermediate products? Show your computations. allocate the joint costs. (Round the weighting amounts to four decimal places. Round the joint costs allocated to the nearest whole dollar.) S c. Allocate the joint costs using the net realizable value method. Begin by entering the appropriate amounts to allocate the joint costs. (Round the weighting amounts to four decimal places. Round the joint costs allocated to the nearest whole dollar.) Joint costs allocated Chocolate powder Milk chocolate Total d. Constant gross-margin percentage NRV method. Begin by entering the appropriate amounts to allocate the joint costs. (Round the gross margin percentage to four decimal places, X.XXX%. Round all other calculations to the nearest whole dollar.) Joint costs allocated Chocolate powder Milk chocolate Requirement 3. Could Cocoa Nibs Edibles Factory have increased its operating income by a change in its decision to fully process both of its intermediate products? Show your computations. (Use parentheses or a minus sign when entering decreasing amounts.) Begin by determining the formula to compute the increase/(decrease) in operating income, and then enter the appropriate amounts. Increase/(decrease) in operating income Chocolate powder Milk chocolate Cocoa Nibs Edibles Factory could increase operating income if chocolate-powder liquor base is and if milk-chocolate liquor base is