"Steel Rolling Corp. purchased a mine, which holds an estimated 39,000 tons of iron ore, on January 1, 2017, for $522,000. The mine is expected to have zero residual value. The business extracted and sold 17,500 tons of ore in 2017 and 15,800 tons of ore in 2018. What is the depletion expense for 2017?"

Solomon chemical company makes three products, b7, k6, and x9, which are joint products from the same materials. in a standard batch of 320,000 pounds of raw materials, the company generates 70,000 pounds of b7, 150,000 pounds of k6, and 100,000 pounds of x9. a standard batch costs $3,840,000 to produce. the sales prices per pound are $10, $14, and $20 for b7, k6, and x9, respectively. (a) allocate the joint product cost among the three final products using weight as the allocation base. (b) allocate the joint product cost among the three final products using market value as the allocation base. (c) allocate the joint product cost among the three final products using weight as the allocation base.