Please help me solve this. really confue. Thanks a lot
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) Blondi 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. 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 Bondi's operations for the month of October are as follows. During this month, Biondi incurred joint production costs of $1,950,000 in the manufacture of HTP-3, PST-4, and RJ-5. HTP-3 PST - 4 RJ-5 Finished goods inventory in gallons (October 1) 20.500 55.500 3.500 October sales in allons 700.000 350.000 175.000 October production in allons 400.000 195.000 Additional processing corte 3924.000 1871.000 $ 70,000 Final sales value per allon 4.50 6.50 5.50 300,000 $ $ $ Problem 17-29 Part 1 Required: 1. Determine Blondi Industries' alocation 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. 0 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. 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, Biondi incurred joint production costs of $1,950,000 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 callon HTP-3 20.500 700.000 800.000 3924.000 4.50 PST-4 55.500 350.000 400.000 $871.000 $ 6.50 ET-6 3,500 175.000 195.000 $70,000 $ 5.50 $ 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
