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Crane produces two joint products, Coconut Milk and Coconut Meat. The company uses the leftover Coconut Skin as a by - product. All three are

Crane produces two joint products, Coconut Milk and Coconut Meat. The company uses the leftover Coconut Skin as a by-product. All three are produced from joint costs of $87700 : direct materials amounting to $53400 and another $34300 for direct labor and manufacturing overhead. Beginning inventory for all three products is zero. Information for production of the product is as follows: \table[[Product,\table[[Units],[Produced],[in lbs]],\table[[Units Sold],[in lbs]],\table[[Sale Price],[per lb]]],[Coconut Milk,24700,20200, $1.30

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