Quality Chicken grows and processes chickens Each chicken is disassembled into five main parts Owsity Chicken is computing the ending inventory values for its July 31, 2018 statement of financial position Ending inventory amounts on July 31 are 15 kilograms of breasts 4 kilograms of wings, 6 kilogram of thighs, 5 kilograms of bones, and 2 ogram of loathers Quality Chicken management wants to use the sales value at splitol method. However, it wants you to explore the effect on ending inventary values of classifying one or more products as a byproduct rather than a joint product Click to view information on the sales value at soltof method) Required Requirement 1. Assume Quality Chicken clarifies all ove products and joint products What are the ending Inventory values of each product on May 31, 2018? (Round your armwers to the newest cert. Enter an amount for each product, including zero balances) Product Ending Inventory Value Breasts Wegs Thighe Bones Feathers Total Requirement 2. Assume Quality Chicken unter the production method of accounting for byevauch What are the ending inventory values for each jant product on May 31, 2018. aurura brasha and Tugas the joint products and wingsbones, and feathers are byproducts? Requirement 2. Aasume Ouality Chicken uses the production method of accounting for byproduds What are the ending inventory values to each joint product on wy 31, 2018, souming trends and tigh joint products and wings, bones, and fathers are byproduct? Begin by selecting the formato the costs to be located Then enter the mounts and in the mount (NRV Hound amounts to the Joint cos to be located 100 Now use the table below to calculate the allocated conts per klogram for the breasts and thighs. (Round the weights to three decanal places, the joint costs to the nearest annt, and the located costs per logram to four decimal places) Breasts Thighs Total Kilograms of product 40 Wholesale selling price per kilogram 5 0.55$ 0.35 Sales value at plot $ 55.00 $ 14.00 Weighing Sales value solito Joint costs allocated Allocated costs per kilogram What are the ending inventory values for each point produd on July 31, 2018, mauming breasts and thich are the joint products and wng, bones, and heathers are byproducts? (Round out to the nearest cent Enter an amount for each produd, Induding zero balance Product Ending Inventory Value Breasts Wings Thighs Bones Feather Total Requirement 3. Comment on differences in the results in sequirements 1 and 2 O A In requirement 1. each product is allocated joint costs since each product is a joint product. In requirement 2. only breasts and thighs are allocated in costs since the remaining products are byproducts OB. Requirements 1 and 2 result in the same ending inventory value since there is no difference in allocating costs when there are byproducts OC in requirement joint costs are allocated to only the most profitable joint products. In recurement 2. a products, including byproducts are located in costs OD None of the above is true Sales value at splitoff ht Breasts Bones Total Wings 20 Thighs 40 Feathers 10 100 80 250 pur $ 0.55 $ $ 55.00 $ 0.20 $ 0.35 $ 4.00 $ 14.00 $ 0.10 $ 8.00 $ 0.05 0.50 $ 81.50 Kilograms of product Wholesale selling price per kilogram Sales value at splitoff Weighting: Sales value at splitoff Joint costs allocated Allocated costs per kilogram 0.049 0.172 0.098 0.675 $ 33.75 $ 0.006 1.000 0.30 $ 50.00 2.45 $ 8.60 $ 4.90 $ $ 0.3375 $ 0.1225 $ 0.2150 $ 0.0613 $ 0.0300 B1,20 Print Done