A dairy company processed raw milk for $69,000. This raw milk can be converted into the following types of milk with listed sales values. Joint Products: Whole milk 2% milk Sales Value $ 34,000 54,400 Skim milk Ok Total 47,600 $136,000 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. t ences Joint Products Sales Value Numerator Percent of Total Denominator Allocated Cost Gross Profit % of Total Whole milk 2% milk Skim milk Totals 10 5 points Exercise 22-20 (Algo) Casn conversion cycie LO A4 A manufacturer reports the data below. Accounts payable Accounts receivable Inventory Net sales Cost of goods sold Current Year $ 8,503 Prior Year $ 12,448 28,585 18,396 10,804 10,255 168,000 116,000 82,000 117,000 eBook Hint Print References (1) Compute the number of days in the cash conversion cycle for each year. (2) Did the company manage cash more effectively in the current year? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the number of days in the cash conversion cycle for each year. (Use 365 days in a year. Round calculations to the nearest whole day.) Mc Current year Prior year Cash conversion cycle days days 5 10 points Exercise 22-20 (Aigo) Casn conversion cycie LU A4 A manufacturer reports the data below. Accounts payable Accounts receivable Inventory Net sales Cost of goods sold Current Year $ 8,503 28,585 10, 004 Prior Year $ 12,448 168,000 82,000 18;396 10,255 116,000 117,000 eBook Hint Print (1) Compute the number of days in the cash conversion cycle for each year. (2) Did the company manage cash more effectively in the current year? Complete this question by entering your answers in the tabs below. References Required 1 Required 2 Did the company manage cash more effectively in the current year? Did the company manage cash more effectively in the current year? < Required 1 Required 2 >