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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, 15,000 gallons of input costing $56,000 were processed at a cost of $154,000. The joint process resulted in 10,000 pounds of Resoline and 5,000 pounds of Krypto. Resoline sells for $20 per pound, and Krypto sells for $40 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 $2 per pound. The resulting product, Resolite, sells for $34 per pound. Krypto is processed separately at a cost of $9 per pound. The resulting product, Kryptite, sells for $40 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.) Joint Allocation Products of Joint Cost Resoline $ 106,672 Krypto 53,328 Total $ 160,000 Red text indicates no response was expected in a cell or a formula-based calculation is incorrect: no points deducted 2. Allocate the company's joint production costs for May using the relative-sales-value b. method. (Do not round your intermediate calculations.) Allocation Joint of Joint Products Cost Resoline $ 80,000 Krypto 80,000 Total $ 160,000 Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted 2- Allocate the company's joint production costs for May using the net-realizable-value c. method. (Do not round your intermediate calculations.) Joint Allocation of Joint Products Cost Resoline $ 107,7923 Krypto 52,208 X Total $ 160.000 Red text indicates no response was expected in a cell or a formula-based calculation is incorrects no points deducted