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Edmonton Chemical Company manufactures two Industrial chemical products in a joint process. In May, 16,000 gallons of Input costing $61,000 were processed at a cost of $164,000. The joint process resulted in 12,000 pounds of Resoline and 4,000 pounds of Krypto. Resoline sells for $25 per pound, and Krypto sells for $50 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 $8 per pound. The resulting product, Resolite, sells for $35 per pound. Krypto is processed separately at a cost of $15 per pound. The resulting product, Kryptite, sells for $69 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 Products Allocation of Joint Cost Rosoline Krypto Total 2. Allocate the company's joint production costs for May using the relative-sales-value b. method. (Do not round your Intermediate calculations.) Joint Products Joint Cost Allocation of Resoline Krypto Total $ 2. Allocate the company's joint production costs for May using the net-realizable- c. value method. (Do not round your Intermediate calculations.) Joint Products Allocation of Joint Cost Rasoline Krypto Total $ 0 3. Edmonton's management is considering an opportunity to process kryptite further a. into a new product called Omega. The separable processing will cost $40 per pound. Packaging costs for Omega are projected to be $9 per pound, and the anticipated sales price is $90 per pound. Calculate the incremental profit or loss from processing Kryptite Into Omega. Incremental per pound 3 Should Kryptite be processed further into Omega? Yes NO

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