Plantar Pharmaceuticals Produces an Anti-Inflammatory Medication That Contains 8 Parts

Multiple Choice

Plantar Pharmaceuticals produces an anti-inflammatory medication that contains 8 parts cellulose, 6 parts meloxicam, and 2 parts povidone.Ingredient costs are as follows: Cellulose, $2.50 per ounce; meloxicam, $5 per ounce; and povidone, $12 per ounce.Using the weighted average approach, compute the cost per ounce of the medication.

A) $4.125
B) $5.004
C) $4.458
D) $4.625
E) $5.135