Ferrier Chemical Company makes three products, B7, K6, and X9, which are joint products from the same materials. In a standard batch of 150,000 pounds of raw materials, the company generates 35,000 pounds of B7, 75,000 pounds of K6, and 40,000 pounds of X9. A standard batch costs $600,000 to produce. The sales prices per pound are $6, $10, and $16 for B7, K6, and X9, respectively.

Required Allocate the joint product cost among the three final products using weight as the allocation base. Allocate the joint product cost among the three final products using market value as the allocation base.

*How do I solve part b? (explain please)

Ferrier Chemical Company makes three products, B7, K6, and X9, which are joint products from the same materials. In a standard batch of 150,000 pounds of raw materials, the company generates 35,000 pounds of B7, 75,000 pounds of K6, and 40,000 pounds of X9. A standard batch costs $600,000 to produce. The sales prices per pound are $6, $10, and $16 for B7, K6, and X9, respectively Required points a. Allocate the joint product cost among the three final products using weight as the allocation base. b. Allocate the joint product cost among the three final products using market value as the allocation base Answer is complete but not entirely correct Complete this question by entering your answers in the tabs below. Required A Required B Allocate the joint product cost among the three final products using market value as the allocation base. (Round Allocation rate" to 3 decimal places.) eight o Base llocate Allocation Rate Product OS 0.131x X 600,000x 78,600 B7 K6 0.469 x x 600,000X 281.400 X9 0.400 x X 600,000 x 240,00 $ 600,000 Total allocated cost