A lumber mill bought a shipment of logs for $56,000. When cut, the logs produced a million board feet of lumber in the following grades. Compute the cost to be allocated to Type 1 and Type 2 lumber, respectively. If the value basis is used. (Do not round your intermediate calculations.) Type 1.400,000 bd. ft. priced to sell at $0.12 per bd. ft. Type 2 - 400,000 bd. ft. priced to sell at $0.06 per bd. ft. Type 3 - 200,000 bd. ft. priced to sell at $0.04 per bd. ft. Multiple Choice $33,600; 516,800 $50,000: $24000 $24.000, $8.000 $10,944 $5,600 $16.000 $16,000