Quiz 8 Terms and Concepts Chapter 16 - ACCT 3270.003 March...

This preview shows page 1 - 2 out of 3 pages.

We have textbook solutions for you!
The document you are viewing contains questions related to this textbook.
Personal Financial Planning
The document you are viewing contains questions related to this textbook.
Chapter 5 / Exercise 5-11
Personal Financial Planning
Billingsley/Gitman
Expert Verified
ACCT 3270.003March 23rd, 2011Joint Cost AllocationQuiz 8 Terms and Concepts Chapter 16, March 23rd, pgs. 573-582Joint Cost BasicsJoint Cost– Costs of a production process that yields multiple products simultaneously Split-off Point– is the juncture in a point production process when two or more products become separately identifiable Separable Costs– are all costs(manufacturing, marketing, distribution, and so on) incurred beyond the splitoff point that are assignable to each of the specific products identified at the splitoff point. Joint Cost ProductsMain Product– Joint production process yields one product with a high total sales value, compared with total sales value of other products of the processJoint Product– Joint production process yields two or more products with high total sales values compared with the total sales values of other productsBy Product– Joint production process that have a low total sales value compared with the sales value of the main product or joint products. Cost Allocation using market-based approachSales Value at Split-off Method– allocates joint costs to joint products on the basis of the relative total sales value at the splitoff point of the total production of these products during the
We have textbook solutions for you!
The document you are viewing contains questions related to this textbook.
Personal Financial Planning
The document you are viewing contains questions related to this textbook.
Chapter 5 / Exercise 5-11
Personal Financial Planning
Billingsley/Gitman
Expert Verified

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture