Wren Pork Company uses the value basis of allocating joint costs in its production of pork products. Relevant information for the current period follows: Product Loin chops Ground Ribs Bacon Pounds Price/lb. 2,660 $5.00 8,750 2.00 3,500 4.80 6,400 3.50 The total joint cost for the current period was $48,000. How much of this cost should Wren Pork allocate to Loin chops? Multiple Choice $9,120 $48,000. $15,360. $12,000.