! 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 HTP3, a chemical used in hot tubs and swimming pools; PST4, a chemical used in pesticides; and RJ5, 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, Biondi incurred joint production costs of $2,550,000 in the manufacture of HTP-3, PST4, and RJ5. Finished goods inventory in gallons (October 1) October sales in gallons October production in gallons Additional processing costs Final sales value per gallon HTP-3 26,500 PST-4 63,900 RJ-5 4,700 820,000 410,000 235,000 1,040,000 520,000 255,000 $ $1,044,000 5.70 $991,000 $ 7.70 $ 82,000 $ 6.70 Problem 17-29 Part 1 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.) Allocation of Joint Joint Products Cost HTP-3 PST-4 RJ-5 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 Problem 17-29 Part 3 3-a. Suppose Biondi Industries has a new opportunity to sell PST4 at the split-off point for $5.50 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. Req 3A Req 3B Suppose Biondi Industries has a new opportunity to sell PST-4 at the split-off point for $5.50 per gallon. Calculate the per gallon profit (loss) of processing further PST-4. (Round your answer to 2 decimal places.) Per gallon of further processing PST-4 < Req 3A Req 3B >