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The American Produce Company purchased a truckload of cantaloupes (weighing 4000 pounds) for $800. American Produce separated the cantaloupes into two grades: Superior and economy. The superior grade cantaloupes had a total weight of 3,200 pounds, and the economy grade cantaloupes totaled 800 pounds. American produce sells the superior grade cantaloupes at $0.35 per pound and the economy grade ones at $0.15 per pound.

Required:

Allocate the $800 cost of the truckload to the superior grade and economy grade cantaloupes using the physical quantity method and the relative sales value method.

Basic Finance, Finance

  • Category:- Basic Finance
  • Reference No.:- M944907

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