It is one 1 question with multiple tasks
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 Biondi'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 coats Pinal sales value per gallon HTP-3 27,000 830,000 1,060,000 $1,054,000 $ 5.80 PST-4 64,600 415,000 530,000 $1,001,000 $ 7.80 RJ-5 4.800 240,000 260,000 $ 84,000 $ 6.80 Problem 17-29 Part 1 Required: 1. Determine Blondi 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.) Joint Products Allocation of Joint Cost HTP-3 PST 4 RJ-5 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 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 Biond'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 HIP- 27,000 830,000 1,060,000 $1,054,000 $ 5.80 PST-4 64,600 415,000 530,000 $1,001,000 $ 7.RO R1-5 4,800 240,000 260,000 $ 84,000 $ 6.80 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.) Value of inventory HTP-3 PST-4 RJ-5 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. Blondi 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, Blondi incurred joint production costs of $2,600,000 in the manufacture of HTP-3, PST-4, and RJ-5. Finished goods inventory in gallon (October 1) October sales in gallons October production in gallons Additional processing costs Final sales value per gallon HTP-3 27,000 830,000 1,060,000 $1,054,000 $ 5.80 PST4 64,600 415,000 530,000 $1,001,000 $ 7.80 RJ-5 4,800 240,000 260,000 $ 84,000 s 6.80 Problem 17-29 Part 3 3-a. Suppose Biondi 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? Complete this question by entering your answers in the tabs below. Reg Reg 3B 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. (Round your answer to 2 decimal places.) Per gallon of process further PST-4 Req3B > 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 Biondi'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 HTR3 27,000 830,000 1,060,000 $1,054,000 $ 5.80 PST44 64,600 415,000 530,000 $1,001,000 $ 7.80 RJ-5 4,800 240,000 260,000 $ 84,000 $ 6.80 Problem 17-29 Part 3 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? Complete this question by entering your answers in the tabs below. Reg 3A Reg 3B 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 Blondi Industries should process PST-4 further
