A lumber mill paid $88,000 for logs that produced 380,000 board feet of lumber in 3 different grades and amounts as follows:

Grade	Production	Market Price
Structural	52,000 board feet	$3,150/1,000 bd. ft.
No. 1 Common	138,000 board feet	$1,650/1,000 bd. ft.
No. 2 Common	190,000 board feet	$660/1,000 bd. ft.

Compute the portion of the $88,000 Joint cost is allocated on Value basis method.