Coca-Cola Company produces soda and juice using the same process. In September 2038, the company incurs the following costs:

• Total Joint Costs: $20,000,000
• Soda Units Produced: 2,000,000 liters
• Juice Units Produced: 1,000,000 liters

Requirements:

• Allocate joint costs using the sales value at split-off method.
• Calculate the cost per liter for soda and juice.
• Prepare a joint cost allocation report.
• Analyze the profitability of each product.
• Recommend strategies to optimize the production process.