Allocation of joint costs, Cost Accounting

Allocation of Joint Costs

Whereas two or more products of relatively high value emerge simultaneously from a single process, they are named as joint products.  The processes such provide rise to these products is named as a joint process and the costs included are referred to as joint product costs.  Joint products are not separately identifiable like individual products till their split off point. Split-off point is the point at that joint products become separate entities or are individually identifiable. Allocations of joint costs contain assigning the costs of the joint process to the products emerging at the split off point. Any type of costs beyond the split off point is referred to as separable costs.

Posted Date: 2/7/2013 2:59:09 AM | Location : United States







Related Discussions:- Allocation of joint costs, Assignment Help, Ask Question on Allocation of joint costs, Get Answer, Expert's Help, Allocation of joint costs Discussions

Write discussion on Allocation of joint costs
Your posts are moderated
Related Questions
Sales: $168,042 Variable Costs: $63,987 Total fixed expenses:$ 75,794 Number units sold per year: 6367 1. What is the contribution margin per unit of your product or service? 2.

What are the benefitss and drawbacks of standard costing?


Identify and explain many classification of costs for planning, control, performance evaluation and decision making.

Cowboy Constructions employs a full-time driver and incurs costs for a vehicle to deliver paperwork between each of their building sites. Select Couriers has offered to carry out t

A 1- year Canadian bond with a face value of 5000 can be purchased at 4800. a) Calculate the nominal interest rate in Canada. b) if the Canadian dollar is expected to depreci


Organization of Budgetary Control Budgetary control ideally includes the given steps as: 1. The creation of budget centres. 2. The introduction of sufficient

Match the items below by entering the appropriate code letter A. Controller B. Deficit C. Payout Ratio D. Stock Dividend E. Declaration Date F. Preemptive right G. Par Value H. L