The Kenton 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: | 22,500 gallons (after shrinkage) |
| Production: | Butter Cream | 12,000 | gallons |
| | Condensed Milk | 10,500 | gallons |
| Sales: | Butter Cream | 11,500 | gallons |
| | Condensed Milk | 10,000 | gallons |
| Sales Price: | Butter Cream | $3.50 | per gallon |
| | Condensed Milk | $9.00 | per gallon |
| Separable costs in total: | Butter Cream | $15,000 | |
| | Condensed Milk | $35,800 | |
The cost of purchasing the of unprocessed milk and processing it up to the split-off point to yield a total of 22,500 gallons of saleable product was $51,000.
The company uses constant gross-margin percentage NRV method to allocate the joint costs of production. What is the allocated joint costs of Condensed Milk? (Round intermediary percentages to the nearest hundredth.)
◦ $34,678
◦ $16,324
◦ $15,000
◦ $35,800
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