Learning Unit 9 - Joint and product costing Flashcards
1
Q
What are joint products?
A
Joint products are two or more products produced simultaneously during the joint process which are distinguishable from each other only at the end of the joint process.
2
Q
What is the split-off point?
A
The point at which joint products are distinguishable.
3
Q
What are by-products?
A
By-products are products during the processing stage and have a minor sales value in relation to the joint products.
