Agnew Chemical Company makes three products, B7, K6, and X9, which are joint products from the same materials. In a standard batch of 150,000 pounds of raw materials, the company generates 35,000 pounds of B7, 75,000 pounds of K6, and 40,000 pounds of X9. A standard batch costs $600,000 to produce. The sales prices per pound are $6, $10, and $16 for B7, K6, and X9, respectively.
Complete chart. Allocate the joint product cost among the three final products using market value as the allocation base. (Round "Allocation rate" to 3 decimal places.)
Product Allocation Rate x Weight of Base = allocated cost
B7 ? x ? = ?
K6 ? x ? = ?
X9 ? x ? = ?
TOTAL ALLOCATED COST