Case $17-36$ Comprehensive Case on Joint Cost Allocation $($LO $17-4,17-5)$

Valdosta Chemical Company manufactures two industrial chemical.products in a joint process. In May, $16,000$ gallons of input costing $$67,000$ were processed at a cost of $$161,000.$ The joint process resulted in $12,000$ pounds of Resoline and $4,000$ pounds of Krypto. Resoline sells for $$25$ per pound, and Krypto sells for $$50$ per pound. Management generally processes each of these chemicals further in separable processes to produce more refined chemical products. Resoline is processed separately at a cost of $$6$ per pound. The resulting product, Resolite, sells for $$34$ per pound. Krypto is processed separately at a cost of $$15$ per pound. The resulting product, Kryptite, sells for $$97$ per pound.

Required:

$2-$c$.$ Allocate the company's joint production costs for May using the net$-$realizable$-$value method.

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Req $2$C

Allocate the company's joint production costs for May using the net$-$realizable$-$value method. $($Round the calculation of "Relative Proporation" to the nearest percent.$)$