The Tempura Spirits Company produces two products methanol (wood alcohol) and turpentine-by a joint process. Joint costs amount to $124,000 per batch of output. Each batch totals 9,500 gallons: 25% methanol and 75% turpentine. Both products are processed further without gain or loss in volume. Separable processing costs are methanol, $4 per gallon, and turpentine, $2 per gallon. Methanol sells for $22 per gallon. Turpentine sells for $16 per gallon. Read the requirements Requirement 3. Prepare product-line income statements per batch for requirement 1 and 2. Assume no beginning or ending inventories. (For entries with a $0 balance, make sure to enter"0" in the appropriate column.) Begin with the physical measure method. Methanol Turpentine Total Revenue Cost of goods sold Joint costs Separable costs Total cost of goods sold Enter any number in the edit fields and then continue to the next question. The Tempura Spirits Company produces two products-methanol (wood alcohol) and turpentine by a joint process. Joint costs amount to $124.000 per batch of output. Each batch totals 9,500 gallons: 25% methanol and 75% turpentine. Both products are processed further without gain or loss in volume. Separable processing costs are methanol, $4 per gallon, and turpentine, $2 per gallon. Methanol sells for $22 per gallon. Turpentine sells for $16 per gallon. Read the requirements Gross margin Now show the operating income for both products using the NRV method. Methanol Turpentine Total Revenue Cost of goods sold Joint costs Separable costs Total cost of goods sold nun emrin