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A Lumber Mill Paid $70,000 for Logs That Produced 200,000

Question 141

Multiple Choice

A lumber mill paid $70,000 for logs that produced 200,000 board feet of lumber in 3 different grades and amounts as follows: A lumber mill paid $70,000 for logs that produced 200,000 board feet of lumber in 3 different grades and amounts as follows: Compute the portion of the $70,000 joint cost to be allocated to No. 2 Common if the value basis is used. A) $0. B) $17,500. C) $23,333. D) $35,000. E) $70,000. Compute the portion of the $70,000 joint cost to be allocated to No. 2 Common if the value basis is used.


A) $0.
B) $17,500.
C) $23,333.
D) $35,000.
E) $70,000.

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