PLEASE HELP ME UNDERSTAND SECTION 2 AND SECTION 3. HAVING A HARD TIME REALIZING FORMULAS AND MATH BEHIND THE CONCEPT HERE. THANK YOU!!

Requirement 2. Assume Tasty Tasty Chicken uses the production method of accounting for byproducts. What are the ending inventory values for each joint product on July 31, 2017, assuming breasts and thighs are the joint products and wings, bones, and feathers are byproducts? + Joint costs NRV of byproducts Joint costs to be allocated Now use the table below to calculate the allocated costs per pound for the breasts and thighs. (Round the weights to three decimal places, the joint costs to the nearest cent and the allocated costs per pound to four decimal places.) Pounds of product Breast Thighs Total Wholesale selling price per pound Sales value at splitoff Weighting: Sales value at splitoff Joint costs allocated Allocated costs per pound