-X - X More Info Requirements ad Chemicals costing $50,000 are mixed and heated, then a unique separation process then extracts the drug from the mixture. A batch yields a total of 3,000 gallons of the chemicals. The first 2,500 gallons are sold for human use while the last 500 gallons, which contain impurities, are sold to veterinarians. The costs of mixing, heating, and extracting the drug amount to $155,000 per batch. The output sold for human use is pasteurized at a total cost of $130,000 and is sold for $600 per gallon. The product sold to veterinarians is irradiated at a cost of $20 per gallon and is sold for $450 per gallon. 1. How much in joint costs does Garden allocate to each product? 2. Compute the cost of ending inventory for each of Garden's products. 3. If Garden were to use the constant gross-margin percentage NRV method instead, how would it allocate its joint costs? 4. Calculate the gross margin on the sale of the product for human use in March under the constant gross-margin percentage NRV method. 5. Suppose that the separation process also yields 300 pints of a toxic byproduct. Garden currently pays a hauling company $6,000 to dispose of this byproduct. Garden is contacted by a firm interested in purchasing a modified form of this byproduct for a total price of $7,000. Garden estimates that it will cost about $35 per pint to do the required modification. Should Garden accept the offer? Print Done ia Ponave Print Done Garden Labs produces a drug used for the treatment of arthritis. The drug is produced in batches. Click the icon to view additional information.) In March, Garden, which had no opening inventory processed one batch of chemicals. It sold 2,000 gallons of product for human use and 300 gallons of the veterinarian product. Garden uses the net realizable value method for allocating joint production costs. Read the requirements Requirement 1. How much in joint costs does Garden allocate to each product? (Do not round intermediary calculations. Only round the amount you input in the call to the nearest dollar.) Joint costs allocated to human product Joint costs allocated to veterinarian product Requirement 2. Compute the cost of ending inventory for each of Garden's products. (Round the cost per gallon amounts to the nearest cent.) Human Product Vet Product Total Separable costs Joint costs Total costs Units produced (gallons) Cost per gallon Units in ending inventory (gallons) Cost of ending inventory Requirement 3. If Garden were to use the constant gross-margin percentage NRV method instead, how would it allocate its joint costs? Human Product Vet Product Total Final sales value of production Gross margin Total coste Separable costs Requirement 3. If Garden were to use the constant gross-margin percentage NRV method instead, how would it allocate its joint costs? Human Product Vet Product Total Final sales value of production Gross margin Total costs Separable costs Joint costs Requirement 4. Calculate the gross margin on the sale of the product for human use in March under the constant gross-margin percentage NRV method. The gross margin on the sale of the product for human use in March under the constant gross-margin percentage NRV method is Requirement 5. Suppose that the separation process also yields 300 pints of a toxic byproduct. Garden currently pays a hauling company $6,000 to dispose of this byproduct. Garden is contacted by a firm interested in purchasing a modified form of this byproduct for a total price of $7,000. Garden estimates that it will cost about $35 per pint to do the required modification. Should Garden accept the offer? Should Garden accept the offer? Will net income increase or decrease? By how much