Allocating Joint Costs Using the Weighted Average Method Sunny Lane, Inc., purchases peaches from local orchards and sorts them into four categories. Grade A are large blemish-free peaches that can be sold to gourmet fruit sellers. Grade B peaches are smaller and may be slightly out of proportion. These are packed in boxes and sold to grocery stores. Peaches to be sliced for canned peaches are even smaller than Grade B peaches and have blemishes. Peaches to be pureed for use in sauces are of lower grade than peaches for slices, yet still food grade for canning. Information on a recent purchase of 20,000 pounds of peaches is as follows: Assume that Sunny Lane, Inc., uses the weighted average method of joint cost allocation and has assigned the following weights, to the four grades of peaches: Weight Grades Pounds Factor Grade A 1,400 3.0 Grade B 5,000 2.0 Slices 8,000 0.5 Pureed 5,600 1.0 07 Total 20,000 Total joint cost is $22,000. Required: