More info - Cocoa beans processed, 19,800 pounds - Costs of processing cocoa beans to splitoff point (including purchase of beans), $68,000 Cocoa Butter Edibles Factory fully processes both of its intermediate products into chocolate powder or milk chocolate. There is an active market for these intermediate products. In August, Cocoa Butter Edibles Factory could have sold the chocolate-powder liquor base for $24 a gallon and the milk-chocolate liquor base for $9 a gallon. The Cocoa Butter Edibles Factory manufactures and distributes chocolate products. (Click the icon to view more information about Cocoa Butter.) Production and sales data for August are as follows (assume no beginning inventory): (Click the icon to view the data.) Required Requirement 1. Calculate how the joint costs of $68,000 would be allocated between chocolate powder and milk chocolate under the different methods. a. Sales value at splitoff method. Begin by entering the appropriate amounts to allocate the joint costs. (Round the weighting amounts to four decimal places.) Required 1. Calculate how the joint costs of $68,000 would be allocated between chocolate powder and milk chocolate under the following methods: a. Sales value at splitoff b. Physical measure (gallons) c. NRV (Net Realizable Value) d. Constant gross-margin percentage NRV 2. What are the gross-margin percentages of chocolate powder and milk chocolate under each of the methods in requirement 1 ? 3. Could Cocoa Butter Edibles Factory have increased its operating income by a change in its decision to fully process both of its intermediate products? Show your computations