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eSearch Textbook Solutio ct Secure l https://newconnect.mheducation.com/flow/connect.html Help Save & ACCT 2302 Final Exam 6 MC Qu. 78 A lumber mill paid.. 20 A lumber mil aid $123,000 for logs that produced 17000 board feet of lumber in 3 different grades and amounts as follows Market Price $3,100/1,e00 bd. ft. Production Structural No. 1 Common 16,5e0 board feet 48,eee board feet $1,650/1,eee bd. ft 940No. 2 Common 52,see board feet$ 660/1,eee bd. ft. Compute the portion of the $123.000 joint cost to be allocated to No. 2 Common if the value basis is used $41000. Ask me anything

Explanation / Answer

Grade Market value Structural 49500 =16.5*3000 No 1 79200 =48*1650 No 2 34650 =52.5*660 Total 163350 Joint costs allocated to No. 2 = 123000/163350*34650= 26091

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