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BEC Operations Management > Joint Product Costing and By-Product Costing > Flashcards

Joint Product Costing and By-Product Costing Flashcards

1
Q

Joint product costing

A

two or more products are produced from the same common raw material

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2
Q

By-Products

A

Represent minor value incidental to manufacturing process

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3
Q

Accounting for By-Products

A

1) Reduce joint costs by product revenue

2) Miscellaneous Income on Income Statement

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BEC Operations Management (13 decks)

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