a lumber mill bought a shipment of logs for $41,000. when cut, the logs produced 1,200,000 board feet of lumber in the following grades. compute the cost to be allocated to type 1 and type 2 lumber, respectively, if the value basis is used. (do not round your intermediate calculations.)

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19-12-2022
Business

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a lumber mill bought a shipment of logs for $41,000. when cut, the logs produced 1,200,000 board feet of lumber in the following grades. compute the cost to be allocated to type 1 and type 2 lumber, respectively, if the value basis is used. (do not round your intermediate calculations.)

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Anshuyadav Anshuyadav · Answer 1 · 2022-12-27T07:30:10+01:00

As per the shipment logs, the cost to be allocated to type 1 and type 2 lumber, respectively, if the value basis is used is $12,000 and $24,000

The term shipment in business refers the act of sending goods from one place to another, especially by ship.

Here we have given that a lumber mill bought a shipment of logs for $41,000. when cut, the logs produced 1,200,000 board feet of lumber in the following grades.

And we need to identify the cost to be allocated to type 1 and type 2 lumber, respectively, if the value basis is used.

While we looking into the given question, the following details are given that, a lumber mill bought a shipment of logs for $41,000

Then the Type Per Feet is calculated as

=> Total % Allocated

=> For the value of 400,000$0.12/ft.= $48,00060%= $24,000

=> 400,000$0.06/ft.= 24,000 30%= 12,000

=> 200,000 $0.04/ft.= 8,000 10% =4,000

Therefore, the total is calculated as,

=> $80,000 100% $40,000

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