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A granary allocates the cost of unprocessed wheat to the production of feed, flour, and starch. For the current period, unprocessed wheat was purchased for
A granary allocates the cost of unprocessed wheat to the production of feed, flour, and starch. For the current period, unprocessed wheat was purchased for $250,000, and the following quantities of product and sales revenues were produced. |
Product | Pounds | Price per Pound |
Feed | 120,000 | $1.00 |
Flour | 47,000 | 2.30 |
Starch | 17,000 | 4.00 |
How much of the $250,000 cost should be allocated to feed? (Round your intermediate percentage to the nearest whole percent.) |
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