Case 17-36 Comprehensive Case on Joint Cost Allocation (LO 17-4,17-5) Edmonton Chemical Company manufactures two industrial chemical products in a joint process. In May, 16,000 gallons of input costing $60,000 were processed at a cost of $164,000. The joint process resulted in 11,000 pounds of Resoline and 5,000 pounds of Krypto. Resoline sells for $25 per pound, and Krypto sells for $45 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 $5 per pound. The resulting product, Resolite, sells for $42 per pound. Krypto is processed separately at a cost of $11 per pound. The resulting product, Kryptite, sells for $53 per pound. Required: 2- Allocate the company's joint production costs for May using the physical-units a. method. (Do not round your intermediate calculations.) Allocation of Joint Cost Joint Products Resoline Krypto Total 2- Allocate the company's joint production costs for May using the relative-sales-value b. method. (Do not round your intermediate calculations.) Joint Products Allocation of Resoline Krypto Total