i need help with the questions below

1. Wren Pork Company uses the value basis of allocating joint costs in its production of pork products. Relevant information for the current period follows:

Product		Pounds		Price/lb.
Loin chops		3,240		$	5.00
Ground		10,530			2.00
Ribs		4,500			4.50
Bacon		6,525			3.60

The total joint cost for the current period was $61,000. How much of this cost should Wren Pork allocate to Loin chops?

2. A lumber mill bought a shipment of logs for $47,000. When cut, the logs produced a million board feet of lumber in the following grades. Compute the cost to be allocated to Type 1 and Type 2 lumber, respectively, if the value basis is used. (Do not round your intermediate calculations.) Type 1 - 800,000 bd. ft. priced to sell at $0.20 per bd. ft. Type 2 - 400,000 bd. ft. priced to sell at $0.08 per bd. ft. Type 3 - 200,000 bd. ft. priced to sell at $0.04 per bd. ft.