美国版的本会计Chapter8.ppt

* Chapter (8) Allocation of Joint Costs and Accounting for By-Product/Scrap * Independent Multiple-Product Production Raw Material: Steel Processing Taurus Mustang Processing * Joint Production Process Raw Material: Hog Processing Hides Pork Meat Split-Off Point * Joint Production Process Raw Materials Joint Process Process (1) Product B Product A Split-Off Point Process (2) Process (3) Separable Cost: D. Materials Direct labor F.O.H. Joint Costs: D. Materials Direct labor F.O.H. * Joint Production Process Joint products are two or more products produced simultaneously by the same process up to a “split-off” point. The split-off point is the point at which the joint products become separate and identifiable. Separable costs are easily traced to individual products and offer no particular problem. * Characteristics By-Product Costs By-product resulting from scrap, trimmings, and so forth, of the main products in essentially nonjoint-product types of undertakings (e.g., fabric trimmings from clothing pieces). Scrap and other residue from essentially joint-product types of processes (e.g., fat trimmed from beef carcasses). A minor joint product situation (fruit skins and trimmings used as animal feed). * By-Products The distinction between joint and by-products rests solely on the relative importance of their sales value. Joint products are the primary outputs of a joint process, each of which has substantial revenue-generating ability. Joint products are also called primary products, main products, and co-products. by-product is a secondary product recovered in the course of manufacturing a primary product. * Methods Accounting For Joint Product Costs Benefits-Received Approaches Physical Units Method Weighted Average Method Allocation Based on Relative Market Value Sales-Value-at-Split-Off-Method Net Realizable Value at split off Method (Sales revenues at split off – separable disposal cost) Approximated Net Realizable Value at split off Method