Percent of Allocation Base x Indirect Cost Allocated Cost Numerator Denominator % of Total 463,500 1.030,000 45.00 $ 869.500 $ 301,275 380,500 1.030,000 35.00 669,500 234,325 206,000 1,030,000 20.00 669.500 133,900 100.00 $ 669,500 (The following information applies to the questions displayed below.) Grade Allocation Base Nos Sales value Georgia Orchards produced a good crop of peaches this year. After preparing the following income statement, No. 1 $ $ 483,500 company is concerned about the net loss on its No. 3 peaches No. 2 380,500 GEORGIA ORCHARDS No. 3 206,000 Income Statement Per Year Rnded December 31, 2017 Totals $ 1,030,000 No. 1 No. 2 No. 3 3 Combined Sales by grade Picking, Sorting, and Grading: No. 1: 257,500 Ibs. $1.80/1b $463,500 Grade Allocation Base No. 2: 257,500 lbs. 4 $1.40/15 $360,500 No. 3: 624,000 Ibee $0.25/15 $ 206,000 Nos. Total sales $1,000,000 Costs No. 1 $ 463,500 Tree pruning and care $0.50/Ib 128,750 128,750 412,000 669,500 No. 2 380.500 Picking, sorting, and geading $0.10/1b 25,750 25,750 82,400 133,900 Delivery costs 16.000 16,000 38,400 No. 3 206,000 Total costs or 170,500 170,500 532,300 873,800 Totals 1,030,000 Bet income loss $293,000 $190,000 $(326,3001 $ 156,200 Delivery: Grade Allocation Base In preparing this statement, the company allocated joint costs among the grades on a physical basis as an equal Nas. Sales value per pound. The company's delivery cost records show that $32,000 of the $70,400 relates to crating the No. 1 a No. 1 S 483,500 peaches and hauling them to the buyer. The remaining $38,400 of delivery costs is for crating the No. 3 peache No. 2 360,500 hauling them to the cannery $ 824,000 No 3 Totals 2. Using your answers to part 1, prepare an income statement using the joint costs allocated on a sales value basis. (D intermediate calculations.) Percent of Allocation Base x Indirect Cost Allocated Cost Numerator Denominator % of Total 463,600 1.030,000 45.00 $ 133 900 $ 60.255 1,000,000 1.030,000 100.00 133.900 46,865 205,000 1.030,000 20.00 133.900 26.780 165.00 $ 133,900 Percent of Allocation Base x Indirect Cost Allocated Cost Numeralo Denaminator % of Total 824,000 56 1,471,428.57% 5 32,000 $ 19,200 360,500 56 643,750.00 32,000 14,080 2.115,178.57 38.400 $ 71.680 GEORGIA ORCHARDS Income Statement For Year Ended December 31, 2018 No. 1 No. 2 No. 3 Combined Costs Total costs 0 0 0