American produce sells the superior grade at 0.45 per pound, Ask an Expert

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American Produce Company purchased a truckload of cantaloupes weighing 4,000 pounds for $1,200. 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 at $0.45 per pound and the economy grade at $0.25 per pound. How much of the $1,200 cost of the truckload will be allocated to the superior grade cantaloupes using the physical quantity method?

A. $1,500

B. $1,054

C. $960

D. $771

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M943084

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