California Orchards reports the following sales data for the year ended December 31. Grade of Walnuts Number 1 Number 2 Number 3 Total Sales $ 480,000 320,000 200,000 $ 1,000,000 The company incurred the following joint costs for the year. Tree pruning and care Pickup, sorting, and grading $ 400,000 320,000 Problem 22-5AA (Algo) Part 1 Required: 1. Use the value basis to allocate joint costs to the three grades of walnuts on the basis of sales value. Allocation of joint costs on the basis of sales values. Grade Numbers Number 1 Number 2 Number 3 Totals Allocation Base Numerator Percent of Allocation Base Denominator Indirect Cost Allocated Cost % of Total