A dairy company processed raw milk for $62,000. This raw milk can be converted into the following types of milk with listed sales values.

Joint Products	Sales Value
Whole milk	$ 27,000
2% milk	43,200
Skim milk	37,800
Total	$ 108,000

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.