Professional Documents
Culture Documents
Process Cost Accounting Additional Procedures: Accounting For Joint Products and By-Products
Process Cost Accounting Additional Procedures: Accounting For Joint Products and By-Products
The manufacturing
process originates
with one or more raw
materials started in
process and two or
more primary
products are derived.
Common Bases for
Allocation of Joint Costs
1. Relative sales value
2. Physical unit of measure
3. Chemical, engineering, or other types of
analyses
Product A
Joint Processing
Product B
Split-off Point
By-Products