California Orchards reports the following sales data for the year ended December 31. Grade of Walnuts Number 1 Number 2 Number 3 Total Sales $ 490,500 381,500 218,000 $ 1,090,000 The company incurred the following joint costs for the year. Tree pruning and care Pickup, sorting, and grading $ 708,500 141,700 es 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. Allocation Base Indirect Con Allocated Cost Grade Percent of Allocation Base Numbers Sales value Numerator Denominator % of Total Number 1 490,500 $ 382.590 O Number 21 381.500 Number 3 218,000 Totals S 1,000,000 O 0 0