Chapter 11: Applying Excel Data Exhibit 11-7 Santa Maria Wool Cooperative Cost of wool Cost of separation process Sales value of intermediate products at split-off point: Undyed coarse wool Undyed fine wool Undyed superfine wool Costs of further processing (dyeing) intemediate products: Undyed coarse wool Undyed fine wool Undyed superfine wool Sales value of end products: Dyed coarse wool Dyed fine wool Dyed superfine wool $200,000$40,000 $120,000 $150,000 $60,000 $50,000 $60,000 $10,000 $160,000 $240,000 $90,000 Enter a formula into each of the cells marked with a ? below Example: Joint Product Costs and the Contribution Approach Analysis of the profitability of the overall operation: Combined final sales value Less costs of producing the end products: Cost of wool Cost of separation process Combined costs of dyeing Profit Analysis of sell or process further: Final sales value after further processing Less sales value at the split-off point Incremental revenue from further processing Less cost of further processing (dyeing) Financial advantage (disadvantage) of further processing \begin{tabular}{|c|c|} \hline & ? \\ \hline? & \\ ? & \\ ? & ? \\ \hline & ? \\ \hline \end{tabular} Chapter 11: Applying Excel: Exercise (Part 2 of 2) (Algo) 2. In industries that process joint products, the costs of the raw materials inputs and the sales values of intermediate and final products are often volatile. Change the data area of your worksheet to match the following: If your formulas are correct, you should get the correct answers to the following questions. a. What is the overall profit if all intermediate products are processed into final products? b. What is the financial advantage (disadvantage) from further processing? c-1. With these new costs and selling prices, what recommendations would you make concerning the company's operations? c-2. If your recommendation in part (c-1) is followed, what would be the company's overall profit