Shark Industries, Inc., produces three products by a joint production process. Raw materials are put into production in Department A, and at the end of processing in this department, three products appear: Product X is immediately sold at the split off point, with no further processing. Products Y and Z require further processing before they can be sold. Product Y is processed in Department B, and Product Z is processed in Department C. The company uses the net realizable value method for allocating joint production costs. Attached is a summary of costs and other data for the quarter ending September 30 . There were no inventories on hand at the beginning of the quarter, July 1. There were no raw materials on hand at September 30. All the units on hand at the end of the quarter were fully complete as to processing. REQUIRED: Using the attached forms, determine the following amounts for each product, showing all appropriate calculations. Round all allocation rates to four decimal places, and round all other calculations to the nearest whole dollar. (a) Estimated net realizable value used to allocate joint costs. (b) Joint costs allocated to each of the three products. (c) Cost of goods sold. (d) Finished goods inventory costs on September 30 . SHARK INDUSTRIES, INC. SUMMARY OF COSTS AND RELATED DATA FOR ALLOCATION OF JOINT COSTS FOR QUARTER ENDING SEPTEMBER 30