Your Uncle Michael has a wool business in Ireland. The company first shears the sheep and then washes the wool, at which point it has wool fiber and crude lanolin. Then the wool fibers are further processed to make yarn, and the crude lanolin is processed further to make lanolin cream. Uncle Michael asks for your help in allocating costs and determining profitability. Here is the information he sent: Your answer is correct. If Uncle Michael uses the sales value at split-off method to allocate the joint costs, determine gross margin for each product, recognizing that both products are sold after further processing. (Round proportion to 1 decimal place, e.g. 0.2 and final answers to 0 decimal places, e.g. 5,125.) eTextbook and Media Solution Attempts: 3 of 3 used If Uncle Michael uses the NRV method to allocate joint costs, determine gross margin for each product, again recognizing that both products are sold after further processing. (Round answers to 2 decimal places, e.g. 15.25.)