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Wren Pork Company uses the relative market value method/Value basis method of allocating joint costs in its production of pork products. Relevant information for the

Wren Pork Company uses the relative market value method/Value basis method of allocating joint costs in its production of pork products. Relevant information for the current period follows:

Product Pounds Price/lb.
Loin chops 3,320 $6.60
Ground 10,800 2.80
Ribs 4,480 5.95
Bacon 6,640 4.30

The total joint cost for the current period was $52,600. How much of this cost should Wren Pork allocate to Loin chops?

$0.

$8,045.

$10,736.

$13,150.

$52,600.

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