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Rice company processes copper ore into two products, c and u. the ore costs $5...

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Accounting

Rice company processes copper ore into two products, c and u. the ore costs $5 per pound and conversion costs are $15 per pound. Rice company plans to produce 40,000 pounds of product c and 20,000 pounds of product u from 60,000 pounds of ore. product c sells for $30 per pound and product u sells for $40 per pound. assume the company uses the relative-sales-value method of allocating joint costs. what amount of joint costs is allocated to product c?

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