Innerva Soy Products (ISP) buys soybeans and processes them into other soy products. Each ton of soybeans that MMSP purchases for $380 can be converted for an additional $210 into 575 lbs of soy meal and 180 gallons of soy oil. A pound of soy meal can be sold at split-off for $1.24 and soy oil can be sold in bulk for $4.5 per gallon.
Each pound of soy cookies can be sold for $2.24 per pound. The 160 gallons of soy oil can be packaged at a cost of $240 and made into 640 quarts of Soy oil. Each quart of Soy oil can be sold for $1.35.
Allocate the joint cost to the cookies and the Soy oil using the following:
(a) Sales value at split-off method.
(b) NRV method.
Should ISP have processed each of the products further? What effect does the allocation method have on this decision?

Financial information that is capable of making a difference in a decision is

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