Required information

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Rex Metal Fabricators $($RMF$)$ buys scrap metal and produces components for buildings and other structures. The purchase

contracts specify an average quality level of $82$ percent. That is$,82$ percent of the metal must be ready for use without

further processing. Metal that is not ready can be treated at extra cost by RMF$,$ and this is more cost$-$effective than

scrapping the metal and purchasing additional amounts. The cost of treating the metal requiring further processing is $$80$

per ton.

RMF uses two suppliers: Chopin Yards and Joe Company. During the past year, the purchasing quality data were as

follows:

Required:

Assume that the average quality, measured by the percentage of metal purchases requiring further processing, and prices from the

two companies will continue as in the past. What is the effective price for metal from the two companies when quality is considered?

Note: Round your answers to $2$ decimal places.