U Question 5 15 pts Milk & Cream processes milk and produces yogurt and cream with skim milk as the by product. The milk is processed in the Churning department with processing cost of P50,000. Yogurt is processed further in Department 2 for P20,000 and sold for P2.20/mL. The cream is processed in Department 3 for P50,000 then sold for P3.50/mL. Skim Milk is processed in Department 4 for P5,000 and sold for PO.75/mL. There was 100,000 mL of milk processed through the Churning Department resulting to 40,000 mL of yogurt and 50,000 mL of cream with the remaining amount left for the by product. Department 2 P20,000 Yogurt for P2.20/ml. 1 Churning Dept. P50,000 100,000 ml Department 3 P50,000 Cream for P3.50/mL Department 4 P5,000 Skim Milk for P0.75/ml Required: Compute for the Total Net Income using the NRV method. The by product's income is added as Other Income. Fill in the items below. For answers with decimals, round up to 2 decimal places. By Product NRV = DroductNDV 10% of NRV Joint Cost Total Cast e.com/courses/69086/quizzes/154624/take Department 2 P20,000 Yogurt for P2.20/ml Churning Dept. P50,000 Department 3 P50,000 Cream for P3.50/mL 100,000 ml Department 4 P5,000 Skim Milk for P0.75/mL Required: Compute for the Total Net Income using the NRV method. The by product's income is added as Other Income. Fill in the items below. For answers with decimals, round up to 2 decimal places. By Product NRV = Product NRV % of NRV Joint Cost Allocation Total Cost Yogurt Cream Total Net Income =