Required information Problems 10-69 and 10-70 (Algo) (LO 10-3, 4) [The following information applies to the questions displayed below.] Atwater Chemicals produces an engine additive for machinery. The additive is produced by adding various ingredients to a petroleum-based lubricant. Atwater purchases the lubricant from two suppliers, Woodlawn Petroleum and Spokane Chemicals. The quality of the final product depends directly on the quality of the lubricant. If the lubricant is "off," Atwater has to dispose of the entire batch. Because all lubricant can be "off," Atwater uses a measure it calls the "yield," which is computed as Yield Good output = Input where the output and input are both measured in barrels. As a benchmark, Atwater expects to get 12 barrels of good output for every 16 barrels of lubricant purchased for a yield of 75 percent (= 12 barrels of output 16 barrels of lubricant). Data on the two suppliers for the past year follow: Total inputs purchased (barrels) Good output (barrels) Woodlawn Petroleum 5,640 3,666 Average price (per barrel) $ 118.00 Spokane Chemicals 3,450 2,967 $ 151.50 Total 9,090 6,633 $ 130.71 Problem 10-69 (Algo) Activity-Based Costing of Suppliers (LO 10-3,4) Required: Assume that the average quality, measured by the yield, and prices from the two companies will continue as in the past. What is the effective price for lubricant from the two companies when quality is considered? Note: Do not round intermediate calculations. Round your answers to 2 decimal places. Woodlawn Petroleum Chemicals Spokane Effective price per barrel