Saved Helps A lumber mill paid $132,000 for logs that produced 120,200 board feet of lumber in 3 different grades and amounts as follows: Grade Structural No. 1 Common No. 2 Common Production 19,200 board feet 46,000 board feet 55,000 board feet Market Price $3,000/1,000 bd. ft. $1,800/1,000 bd. ft. $ 720/1,000 bd. ft. Compute the portion of the $132,000 joint cost to be allocated to No. 2 Common if the value basis is used. Multiple Choice O O 544,000 O O