Question: Question 3 (80 points) Red Sauce Canning Company processes tomatoes into two joint products: Catsup and Tomato Juice During the summer of 2018, the joint

Question 3 (80 points) Red Sauce Canning Company processes tomatoes into two joint products: Catsup and Tomato Juice During the summer of 2018, the joint costs of processing the tomatoes were $4,200,000. There was no beginning or ending inventories for the summer. Production and sales information for the summer is as follows: Product Catsup Juice Production Units at Splitoff Point 100,000 cases 150,000 cases Separable Costs $300,000 $750,000 Final Sales Units 50,000 cases 100,000 cases Final Selling Price $28 per case 25 per case Required: (Show your work.) 1. If joint costs are allocated based upon the Physical-measure method (number of cases), what amount of joint costs will be allocated to each product? (40 points) 2. Determine the total cost amount allocated to each product if the Net Realizable Value method is used. (40 points)

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