How to Allocate Joint Costs using the Relative Sales Value Method
Share your inquiries now with community members Click Here
Sign up Now
Lessons List | 9 Lesson
Comments
Related Courses in Business
Course Description
A joint cost is a cost that benefits more than one product, while a by-product is a product that is a minor result of a production process and which has minor sales.Are joint costs allocated to by products?
Joint Cost Allocation
Allocate joint costs to the primary output products of the joint process, not the incidental byproducts or scrap. Allocate them using a physical measure or a monetary measure.What are examples of joint products?
Examples. The processing of crude oil can result in the joint products naphtha, gasoline, jet fuel, kerosene, diesel, heavy fuel oil and asphalt, as well as other petrochemical derivatives. The refinery process has variable proportions depending on the distilling temperatures and cracking intensity.What is joint cost example?
A joint cost is a kind of common cost that occurs after a raw product, such as a sunflower crop, undergoes two separate production processes. For example, the cost of fertilizing and harvesting sunflowers qualifies as a common cost. ... Another example of joint costing is feeding both sheep and cattle.
Trends
Python programming language
Network Theory basics for Beginners
RPA Robotic Process Automation
Excel Course Basic to Advanced
Learning English Speaking
Human Psychology
Digital Marketing Hacks for beginner
MS Excel
Operating Systems
communication skill
Communication Skills
Operating Systems Fundamentals
Artificial Intelligence
English Speaking
Behavioural Psychology Fundamentals
Personality Development
Technical Analysis for Beginners
UI UX Design Full Course with Figma more
Time Management and Goal Setting
Python Random module essentials
Recent
Digital Marketing Hacks for beginner
Human Psychology
Bitcoin Cryptocurrency Knowledge
Technical Analysis for Beginners
Motivational Speech 2024
Talent platform operation guide
Artificial Intelligence AI new
Artificial Intelligence AI Arabic
Cloud Computing Arabic Course
Routing Switching
Security Course Revision
Access Network Arabic
Security Arabic
Routing Switching Arabic
iTB 3rd Annual Conference
Taking Exam Process 2023
AMAZON BOOK PUBLISHING MASTERY
ONLINE BUSINESS MASTERY
MOTIVATION INSPIRATION
MONEY INVESTING MASTERY