Asked by
Misael Barron
on Oct 23, 2024Verified
A joint product with very little value relative to other joint products is termed a:
A) negligible product.
B) accounted loss.
C) by-product.
D) scrap.
By-Product
A secondary product derived from the manufacturing process or chemical reaction that is incidental to the main product.
Joint Products
Products that are produced together from the same process or raw materials but are sold as separate items.
- Distinguish between joint products and by-products, and comprehend the costing and decision-making methodologies pertinent to each.
Verified Answer
BV
Learning Objectives
- Distinguish between joint products and by-products, and comprehend the costing and decision-making methodologies pertinent to each.