Harrow Labs produces a drug used for the treatment of arthritis. The drug is produced in batches. (Click the icon to view additional information.) In March, Harrow, which had no opening inventory, processed one batch of chemicals. It sold 1,600 gallons of product for human use and 350 gallons of the veterinarian product. Harrow uses the net realizable value method for allocating joint production costs. Read the requirements. Requirements ... $ 233,454 Joint costs allocated to human product Joint costs allocated to veterinarian product $ 20,346 Requirement 2. Compute the cost of ending inventory for each of Harrow's products. (Round the cost per gallon amounts to the nearest cent.) 1. How much in joint costs does Harrow allocate to each product? 2. Compute the cost of ending inventory for each of Harrow's products. 3. If Harrow were to use the constant gross-margin percentage NRV method instead, how would it allocate its joint costs? 4. Calculate the gross margin on the sale of the product for human use in March under the constant gross-margin percentage NRV method. 5. Suppose that the separation process also yields 350 pints of a toxic byproduct Harrow currently pays a hauling company $6,400 to dispose of this byproduct. Harrow is contacted by a firm interested in purchasing a modified form of this byproduct for a total price of $6,900. Harrow estimates that it will cost about $22 per pint to do the required modification. Should Harrow accept the offer? Human Product Vet Product Total Separable costs Joint costs More info Total costs Units produced (gallons) Cost per gallon Units in ending inventory (gallons) Cost of ending inventory Done Chemicals costing $49,000 are mixed and heated, then a unique separation process then extracts the drug from the mixture. A batch yields a total of 3,400 gallons of the chemicals. The first 3,000 gallons are sold for human use while the last 400 gallons, which contain impurities, are sold to veterinarians. The costs of mixing, heating, and extracting the drug amount to $204,800 per batch. The output sold for human use is pasteurized at a total cost of $153,000 and is sold for $640 per gallon. The product sold to veterinarians is irradiated at a cost of $25 per gallon and is sold for $410 per gallon. Help me solve this Etext pages Get more help all Check