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A dairy allocates the cost of unprocessed milk to the

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A dairy allocates the cost of unprocessed milk to the production of milk, cream, butter and cheese. For the current period, unprocessed milk was purchased for $360,000, and the following quantities of product and sales revenues were produced.

Product Pounds Price per Pound

  • Milk 170,000 $1.60
  • Cheese 57,000 2.90
  • Butter 27,000 8.00
  • Cream 17,000 10.00

How much of the $360,000 cost should be allocated to milk? (Do not round your intermediate calculations.)

Reference no: EM13599387

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