A dairy company processed raw milk for $$61,500.$ This raw milk can be converted into the following types of milk with listed sales values.

Joint Products Sales Value

Whole milk $ $26,500$

$2\%$ milk $42,400$

Skim milk $37,100$

Total $ $106,000$

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.A dairy company processed raw milk for $$61,500.$ This raw milk can be converted into the following types of milk with listed sales values