The South Oil Company buys crude vegetable oil. Refining this oil results in four products at the splitoff point. A, B, C, and D. Product C is fully processed by the splitoff point. Products A, B, and D can individually be further refined into Super A, Super B, and Super D. In the most recent month (November), the output at the splitoff point was as follows: 1 (Click the icon to view the information.) Read the requirements. Requirement 1. Compute the gross-margin percentage for each product sold in November, using the following methods for allocating the $96,000 joint costs: a. Sales Value at Splitoff. Begin by entering the amounts in the table and allocate the joint costs. (Enter the weights to four decimal places.) Sales value of total production at splitoff Weighting ABCD Joint costs allocated More info Product A, 322,400 gallons Product B, 119,600 gallons Product C, 52,000 gallons Product D, 26,000 gallons I The joint costs of purchasing and processing the crude vegetable oil were $96,000. South had no beginning or ending inventories. Sales of product C in November were $24,000. Products A, B, and D were further refined and then sold. Data related to November follow: Separable Processing Costs to Make Super Products Super A Super B Super D Revenues 249,600 $ 320,000 102,400 160,000 152,000 160,000 South had the option of selling products A, B, and D at the splitoff point. This alternative would have yielded the following revenues for the November alternative would have yielded the following revenues for the November production: Product A, $84,000 Product B, $72,000 Product D, $60,000 Requirements 1. 2. Compute the gross-margin percentage for each product sold in November, using the following methods for allocating the $96,000 joint costs: a. Sales value at splitoff b. Physical measure C. NRV Could South Oil have increased its November operating income by making different decisions about the further processing of products A, B, or D? Show the effect on operating income of any changes you recommend.