Baird Chicken Corporation processes and packages chicken for grocery stores. It purchases chickens from farmers and processes them into two different products: chicken drumsticks and chicken steak. From a standard batch of 13,000 pounds of raw chicken that costs $7,300, the company produces two parts: 2.000 pounds of drumsticks and 4,000 pounds of breast for a processing cost of $1,555. The chicken breast is further processed into 3,200 pounds of steak for a processing cost of $1,600. The market price of drumsticks per pound is $1.35 and the market price per pound of chicken steak is $3.60. If Baird decided to sell chicken breast instead of chicken steak, the price per pound would be $2.20. Required a-1. Allocate the joint cost to the joint products, drumsticks and breasts, using weight as the allocation base. a-2. Calculate the gross profit for each product. a-3. If the drumsticks are producing a loss, should that product line be eliminated? b-1. Reallocate the joint cost to the joint products, drumsticks and breasts, using relative market values as the allocation base. b-2. Calculate the gross profit for each product c-1. Should Martin further process chicken breasts into chicken steak? (Use the assumption made in requirement b-1). c-2. How would the profit be affected by your answer in c.? Complete this question by entering your answers in the tabs below. Reg Al Reg A2 Reg A3 Reg Bi Reg B2 Reg CI Reg C2 Allocate the joint cost to the joint products, drumsticks and breasts, using weight as the allocation base. (Round "Allocation rate" to 2 decimal place Product Allocation Rate * Weight of Basel llocated Cost Chicken breast Total allocated cost Res A2 > $1,555. The chicken breast is further processed into 3,200 pounds of ste drumsticks per pound is $1.35 and the market price per pound of chicke of chicken steak, the price per pound would be $2.20. Required a-1. Allocate the joint cost to the joint products, drumsticks and breasts, a-2. Calculate the gross profit for each product. a-3. If the drumsticks are producing a loss, should that product line be eli b-1. Reallocate the joint cost to the joint products, drumsticks and breasts b-2. Calculate the gross profit for each product. c-1. Should Martin further process chicken breasts into chicken steak? (U: c-2. How would the profit be affected by your answer in C-T? Complete this question by entering your answers in the tabs below Reg A1 Req A2 Req A3 Req B1 Req B2 Calculate the gross profit for each product. Chicken Drumsticks Chicken Breast Revenue Cost of goods sold Gross margin should should not #1 Baird Chicken Corporation processes and packages chicken for grocery stores. It purchases chickens them into two different products: chicken drumsticks and chicken steak. From a standard batch of 13,00 costs $7,300, the company produces two parts: 2,000 pounds of drumsticks and 4,000 pounds of brea $1,555. The chicken breast is further processed into 3,200 pounds of steak for a processing cost of $1 drumsticks per pound is $1.35 and the market price per pound of chicken steak is $3.60. If Baird decide of chicken steak, the price per pound would be $2.20. Required a-1. Allocate the joint cost to the joint products, drumsticks and breasts, using weight as the allocation a-2. Calculate the gross profit for each product a-3. If the drumsticks are producing a loss, should that product line be eliminated? b-1. Reallocate the joint cost to the joint products, drumsticks and breasts, using relative market values b-2. Calculate the gross profit for each product C-1. Should Martin further process chicken breasts into chicken steak? (Use the assumption made in req c-2. How would the profit be affected by your answer in C-R? Complete this question by entering your answers in the tabs below. answe Req Al R eq A2 Req A3 Req B1 Req Reg C2 Reallocate the joint cost to the joint products, drumsticks and breasts, using relative market values as the (Round intermediate calculations and final answers to 2 decimal places.) Total cost of drumsticks Total cost of chicken breasts window WYTY www. Baird Chicken Corporation processes and packages chicken for grocery stores. It purchases chickens from farmers and pre them into two different products: chicken drumsticks and chicken steak. From a standard batch of 13,000 pounds of raw ch costs $7,300, the company produces two parts: 2,000 pounds of drumsticks and 4,000 pounds of breast for a processing $1,555. The chicken breast is further processed into 3,200 pounds of steak for a processing cost of $1,600. The market prie drumsticks per pound is $1.35 and the market price per pound of chicken steak is $3.60. If Baird decided to sell chicken bre of chicken steak, the price per pound would be $2.20. Required a-1. Allocate the joint cost to the Joint products, drumsticks and breasts, using weight as the allocation base. a-2. Calculate the gross profit for each product. a-3. If the drumsticks are producing a loss, should that product line be eliminated? b-1. Reallocate the joint cost to the Joint products, drumsticks and breasts, using relative market values as the allocation bat b-2. Calculate the gross profit for each product c-1. Should Martin further process chicken breasts into chicken steak? (Use the assumption made in requirement b-1. c-2. How would the profit be affected by your answer in c-R Complete this question by entering your answers in the tabs below. Req B1 Reg B2 Req B2 Reg C1 Reg C2 Reg A1 Reg A2 Req A3 Calculate the gross profit for each product. (Round intermediate calculations and final answers to 2 decimal places.) Chicken Drumsticks Chicken Breast 4 Revenue Cost of goods sold Gross profit 0.00 Reg 01 Reg C1 > required a-1. Allocate the joint cost to the joint products, drumsticks and breasts, using weight as the allocation base. a-2. Calculate the gross profit for each product. a-3. If the drumsticks are producing a loss, should that product line be eliminated? b-1. Reallocate the joint cost to the joint products, drumsticks and breasts, using relative market values as the b-2. Calculate the gross profit for each product C-1. Should Martin further process chicken breasts into chicken steak? (Use the assumption made in requireme c-2. How would the profit be affected by your answer in c-? Complete this question by entering your answers in the tabs below. Reg A1 Req A2 Req A3 Req B1 Req B2 Reg C1 Reg ci R eg C2 Should Baird further process chicken breasts into chicken steak? (Use the assumption made in requirement b-1). Baird should can further process chicken breasts into chicken steak. ........