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Unformatted text preview: sales value. Joint products have the highest value followed by by-products. Usually, the classification of output is determined before production. Management decides whether a joint process output is a joint product, a by-product, or scrap based on judgment. Output from a joint process is subjectively classified according to management's assessment of the relative sales value of each type. The classification of outputs of a joint process is usually decided before the process is undertaken. However, in unusual cases, the actual outputs of the joint process may not result as planned. In these types of situations, management may classify them differently than originally intended. Jack Cost Accounting. Foundation and Evolutions. Michael R. Kinney and Cecily A. Raiborn...
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This note was uploaded on 07/16/2011 for the course COST ACCOU 410 taught by Professor David during the Fall '10 term at Kaplan University.
- Fall '10