9 11.12 points Skipped A dairy company processed raw milk for $64,500. This raw milk can be converted into the following types of milk with listed sales values. Joint Products Whole milk 2% milk Skim milk Total Sales Value $ 29,500 47,200 41,300 $ 118,000 Use the sales value basis to (1) allocate the total cost of the raw milk to each type of milk and (2) determine the gross profit for each type of milk. eBook Joint Products Sales Value Percent of Total Allocated Cost Gross Profit Hint Numerator Denominator % of Total Whole milk 0 2% milk 0 Print Skim milk 0 Totals $ 0 0 $ 0 $ References