A company processed raw milk for $120,000. This raw milk can be converted into the following types of milk with listed sales values: Joint Products Sales Value Whole milk $ 50,000 2% milk 80,000 Skim milk 70,000 Total $ 200,000 Using the value basis, the total cost allocated to skim milk is:

Multiple Choice $48,000.

$42,000.

$30,000.

$35,000.

$54,000.