XYZ Company processes unprocessed milk to produce two products, Butter Cream and Condensed Milk. The following information was collected for the month of June: Direct Materials processed: 20,000 gallons (after shrinkage) The cost of purchasing the of unprocessed milk and processing it up to the split-off point to yield a total of 17,000 gallons of saleable product was $40,000. The company uses constant gross-margin percentage NRV method to allocate the joint costs of production. What is the allocated joint cost of Condensed Milk? (Round intermediary percentages to the nearest hundredth.) $30,400 $29,691 $31,258 $28,603