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Business, 24.04.2020 18:45 10040816

A lumber mill bought a shipment of logs for $40,000. When cut, the logs produced 1,000,000 board feet of lumber in the following grades. Type 1 - 400,000 bd. ft. priced to sell at $.12 per bd. ft. Type 2 - 400,000 bd. ft. priced to sell at $.06 per bd. ft. Type 3 - 200,000 bd. ft. priced to sell at $.04 per bd. ft. Compute the cost to be allocated to Type 1 and Type 2 lumber, respectively, if the value basis is used.

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A lumber mill bought a shipment of logs for $40,000. When cut, the logs produced 1,000,000 board fee...
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