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		Pounds		Price/lb.
Loin chops		3,360		$	5.00
Ground		10,920			2.00
Ribs		4,375			4.80
Bacon		6,960			3.50

The total joint cost for the current period was $62,000. How much of this cost should Wren Pork allocate to Loin chops?

Multiple Choice

• $17,980.

• $16,120.

• $12,400.

• $62,000.

• $0.