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 Blondi produces HTP-3, a chemical used in hot tubs and swimming pools; PST-4, a chemical used in pesticides; and RJ-5, a product that is sold to fertilizer manufacturers. Biondi uses the net-realizable-value method to allocate joint production costs. The ratio of output quantities to input 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 Blondi's operations for the month of October are as follows. During this month, Biondi incurred joint production costs of $2,600,000 in the manufacture of HTP-3, PST-4, and RJ-5. Finished goods inventory in gallons (October 1) October sales in gallons. October production in gallons Additional processing costs Final sales value per gallon Problem 17-29 Part 1 Joint Products HTP-3 PST-4 RJ-5 Allocation of Joint Cost HTP-3 27,000 830,000 1,060,000 54,000 5.80 $ PET-4 64,600 415,000 530,000 $1,001,000 7,80 $ Required: 1. Determine Biondi Industries' allocation of joint production costs for the month of October. (Round the calculation of "Relative Proportion" to the nearest whole percent. Round your final answers to the nearest dollar amount.) RJ-S www 4,800 240,000 260,000 $ 84,000 $ 6.80 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 Blondi produces HTP-3, a chemical used in hot tubs and swimming pools; PST-4, a chemical used in pesticides; and RJ-5, a product that is sold to fertilizer manufacturers. Blondi uses the net-realizable-value method to allocate joint production costs. The ratio of output quantities to Input 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 Blondi's operations for the month of October are as follows. During this month, Blondi incurred joint production costs of $2,600,000 in the manufacture of HTP-3, PST-4, and RJ-5. Finished goods inventory in gallons (October 1) October sales in gallons October production in gallons HTP-3 PST-4 RJ-5 Additional processing costo Final sales value per gallon HTP-3 27,000 830,000 1,060,000 $1,054,000 5.80 Value of inventory $ PST-4 64,600 415,000 530,000 $1,001,000 7.80 S Problem 17-29 Part 2 2. Determine the dollar values of the finished-goods inventories for HTP-3, PST-4, and RJ-5 as of October 31. (Round Intermediate calculations of "Cost per gallon" to the nearest cent.) RJ-5 4,800 240,000 260,000 $ 84,000 $ 6.00 is sold to fertilizer manufacturers. Blondi uses the net-realizable-value method to allocate joint production costs. The ratio of output quantities to input quantities of direct material used in the joint process remains consistent from month to month. Blondi Industries uses FIFO (first-in, first-out) in valuing its finished-goods inventories. Data regarding Blondi's operations for the month of October are as follows. During this month, Blondi incurred joint production costs of $2,600,000 in the manufacture of HTP-3, PST-4, and RJ-5. Finished goods inventory in gallons (October 1) October sales in gallons October production in gallons Additional processing costs Final sales value per gallon Problem 17-29 Part 3 HTP-3 27,000 830,000 1,060,000 $1,054,000 5.80 Req 3A $ Complete this question by entering your answers in the tabs below. Req 3B PST-4 64,600 415,000 530,000 $1,001,000 $ 3-a. Suppose Blondi Industries has a new opportunity to sell PST-4 at the split-off point for $5.60 per gallon. Calculate the per gallon profit (loss) of processing further PST-4. 3-b. Should the company sell PST-4 at the split-off point or continue to process this product further? Roq 3B > RJ-S 4,800 240,000 260,000 $ 84,000 7.80 $ 6.80 Suppose Biondi Industries has a new opportunity to sell PST-4 at the split-off point for $5.60 per gallon. Calculate the peri gallon profit (loss) of processing further PST-4. (Round your answer to 2 decimal places.) Per gallon of process further PST-4 is sold to fertilizer manufacturers. Blondi uses the net-realizable-value method to allocate joint production costs. The ratio of output quantities to input 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 $2,600,000 in the manufacture of HTP-3, PST-4, and RJ-5. Finished goods inventory in gallons (October 1) October sales in gallons October production in gallons Additional processing conta Final sales value per gallon Problem 17-29 Part 3 OO Req 3A HTP-) 27,000 830,000 1,060,000 $1,054,000 5.80 $ Complete this question by entering your answers in the tabs below. Req 38 POT-4 $ 3-a. Suppose Blondi Industries has a new opportunity to sell PST-4 at the split-off point for $5.60 per gallon. Calculate the per gallon profit (loss) of processing further PST-4. 3-b. Should the company sell PST-4 at the split-off point or continue to process this product further? 64,600 415,000 530,000 $1,001,000, 4,800 240,000 260,000 $ 84,000 7.80 $ 6.80 83-5 Should the company sell PST-4 at the split-off point or continue to process this product further? Biondi Industries should sell PST-4 at the split-off point Biondi Industries should process PST-4 further.