Reference no: EM131604261

Question - Pirate Seafood Company purchases lobsters and processes them into tats and flakes It sells the lobster tails for $19.50 per pound and the flakes for $14.80 per pound. On average, 100 pounds of lobster are processed into 55 pounds of tails and 29 pounds of flakes, with 16 pounds of waste. Assume that the company purchased 3,800 pounds of lobster for $4 per pound and processed the lobsters with an additional labor cost of $4,600 No materials or labor costs are assigned to the waste. If 1,947 pounds of tails and 1,022 pounds of flakes are sold, calculate the allocated cost of the sold items and the allocated cost of the ending inventory. The company allocates joint costs on a value basis (Round your answers to nearest whole number.