A sawmill paid $76,000 for logs that produced 220,000 board feet of lumber in 3 different grades

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A sawmill paid $76,000 for logs that produced 220,000 board feet of lumber in 3 different grades and amounts as follows:

How much of the $76,000 joint cost should be allocated to No. 2 Common?
a. $77,000.
b. $0.
c. $76,000.
d. $48,000.
e.$17,267.

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Business Statistics

ISBN: 9780133899122

3rd Canadian Edition

Authors: Norean D. Sharpe, Richard D. De Veaux, Paul F. Velleman, David Wright

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Question Posted: Sep 19, 2013 04:06 AM

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A sawmill paid $76,000 for logs that produced 220,000 board feet of lumber in 3 different grades

Question:

Grade Structural No. 1 Common 60,000 board feet S800 1,000 bd. ft. No. 2 Comn 105,000 board feet S350 1,000 bd. ft. Production Market Price $1,400/1.000 bd ft. 55,000 board feet

Step by Step Answer:

e 17267 1st step compute the market values at splitoff po...View the full answer

Business Statistics

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