QUESTION 22 30 points Save Answer Dolly Dairy makes a variety of dairy products. During December, 100,000 gallons of raw milk was processed at a joint cost of $120,000. This produced 90,000 gallons of skim milk and 10,000 gallons of cream. The cream could be processed further into butter and the skim milk could be processed further into farmer's cheese. Information on these follows: Sales Value at Split Off point Estimated further processing cost Sales Value after processing Skim Milk $135,000 $40,000 $185,000 Cream $45,000 $25,000 $60,000 a. Assume that the joint cost is allocated to the products based on the physical quantity of output (gallons) of each product. How much joint cost should be assigned to each product? b. Assume that the joint cost is assigned using relative sales value at split-off. How much joint cost should be assigned to each product? c. Which products should be processed further? For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac)