MC Qu. 78 A lumber mill paid... A lumber mill paid $141,000 for logs that produced 120,000 board feet of lumber in 3 different grades and amounts as follows: Grade Structural No. 1 Common No. 2 Common Production 14,400 board feet 48,000 board feet 57,600 board feet Market Price $3,500/1,000 bd. ft. $1,800/1,000 bd. ft. $ 750/1,000 bd. ft. Compute the portion of the $141,000 joint cost to be allocated to No. 2 Common if the value basis is used. Multiple Choice O $47,000 Multiple Choice $47,000. $0. $70,500. $141,000. $33,840