8 Required information Problem 17-29 Joint Costs; Allocation and Production Decisions (LO 17-4, 17-5) The following information applies to the questions displayed below Biondi Industries is a manufacturer of chemicals for various purposes. One of the processes used by Biondi produces in hot tubs and swimming pools; PST-4, a chemical used in pesticides; and RJ-5, a product that uses the net-realizable-value method to allocate joint production costs. The ratio is sold to fertilizer manufacturers. Biondi put quantities of direct material used in the joint process remains consistent from month to month Biondi Industries uses FIFO (first-in, first-out) in valuing its finished-goods inventories Data regarding Biondi's operations for the month of October are as follows. During this month, Biondi incurred joint production costs of $2,450,000 in the manufacture of HTP-3, PST-4, and RJ-5 inventory in gallons (October 1) 25,500 62,500 October sales in gallons Oetober production in gallons Additional processing costs Pinal sales value per gallon 4,500 800,000 400,000 225,000 245,000 $1,024,000 $971,000 78,000 $ 5.50 7.50 $6.50 1,000,000 500,000 Problem 17-29 Part 1 Required: 1. Determine Biondi Industries allocation of joint production costs for the month of October. (Round the calculation of "Relative Print Proportion" to the nearest whole percent. Round your final answers to the nearest dollar amount.) HTP-3 PST-4 RJ-5