Required information

Problem $22-5$AA $($Algo$)$ Allocation of joint costs LO C$2$

$[$The following information applies to the questions displayed below.$]$

California Orchards reports the following sales data for the year ended

December $31.$

The company incurred the following joint costs for the year.

Tree pruning and care

Pickup, sorting, and grading

$$571,200$

$142,800$

Problem $22-5$AA $($Algo$)$ Part $2$

Compute gross profit for each of the three grades of walnuts. Assume, cost of goods sold

consists only of the joint costs.