The Coniferous Company produces two products, rosin and pine oil, by a joint process. Joint cons amount to $120,000 per batch of output. Each batch totals 10,000 gallons: 25% pine oil and 75% Question 1 (10 marks) rosin. Pine oil sells for $17 per gallon. Rosin sells for $10 per gallon Both products are processed further without gain or loss in volume. Rosin is processed into RosinX and Pine oil is processed into Pine oilX. Separable processing costs are pine oilX, $3 per gallon; rosin X,$2 per gallon. Pine oilX sells for $21 per gallon. Rosin X sells for $14 per gallon. (Use 4 decimal places in your calculations) 1) How much joint costs per batch should be allocated to rosin and to pine oil assuming that joint costs are allocated on a physical-measure (number of gallons at splitoff point) basis? (4 marks) REQUIRED: 2) How much joint costs per batch should be allocated to rosin and to pine oil assuming that joint costs are allocated on an NRV basis? (6 marks)