Physical and sales value allocations FINS produces three products from its fish farm: fish, fish oil, and fish meal. During July, FINS produced the following average quantities of each product from each pound (16 ounces) of fish processed: Obtained from Each Product Pound of Fish Fish 8 ounces Fish oil 4 ounces Fish meal 2 ounces Total 14 ounces Of each pound of fish processed, two ounces are waste (assume 12.5% for calculations). In July, FINS processed 37.5 tons of fish (1 ton equals 2,000 pounds). Joint cost amounted to $142,800. On average, each pound of product has the following selling prices: fish, $4.50; fish oil, $6.50; and fish meal, $2. a. Allocate the joint cost using weight as the basis. Note: Round proportions to the nearest whole percentage and dollar amounts to the nearest whole dollar. Fish $ 81,600 x Fish Oil 40,800 X Fish Meal 20,400 x Total 142,800