SOLUTION- JOINT AND BY-PRODUCT COSTING.pdf - JOINT PRODUCTS...

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JOINT PRODUCTS ANDBY-PRODUCTSDE LEON/ DE LEON/ DE LEON
JOINT PRODUCTIONIS APRODUCTIONPROCESS THAT YIELDS TWO OR MORE PRODUCTSSIMULTANEOUSLY FROM THE SAME RAW MATERIALS.CAN YIELD JOINT PRODUCTS AND BY-PRODUCTS.INCURS JOINT COST; CONSISTING OF DIRECT MATERIALS, DIRECTLABOR AND FACTORY OVERHEAD WHICH ISNOTSPECIFICALLYIDENTIFIABLE WITH ANY OF THE PRODUCTS BEING SIMULTANEOUSLYPRODUCED
JOINT PRODUCTS AND BY-PRODUCTSJOINT PRODUCTSThe products must be theprimary objective of themanufacturing operations.Sales value must be relativelyhigh if compared with theproducts resulting at the sametime period.BY PRODUCTSThe product is not the primaryobjective of the manufacturingoperations.Sales value of the by-product iscomparatively low as comparedwith the sales value of the mainproduct.
ACCOUNTING METHODS FORMAIN PRODUCTSPHYSICAL OUTPUT METHOD/ AVERAGE UNIT COST METHODMARKET VALUE AT SPLIT-OFF METHODNRV METHOD (APPROXIMATED MARKET VALUE AT SPLIT-OFF)
PROBLEM # 11.

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Term
Fall
Professor
EmilyBryan
Tags
Revenue, PROD Sales Value APC

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