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 $240,000, and the following quantities of product and sales revenues were produced.

Product     pounds    price per pound

milk          100,000       $.90

cheese     50,000         2.20

butter      20,000         1.00

Cream      10,000         3.00
   
How much of the $240,000 cost should be allocated to milk?