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A dairy operation processes raw milk into two main products: skim milk and cream. Both of these products are salable at the end of the
A dairy operation processes raw milk into two main products: skim milk and cream. Both of these products are salable at the end of the joint process, worth $ and $ respectively. The skim milk can be further processed at a cost of $ in order to yield sweetened condensed milk. This final product can be sold for $ The cream can also be processed further, at a cost of $ in order to generate butter, which is worth $ If the joint process costs are $ how much of the joint cost will be allocated to each product under the NRV method? Round proportion to decimal places, eg and final answers to decimal places, eg
tableSkim Milk,,CreamAllocated joint costs,$$
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