Process costing讲义参考.ppt

Answer Answer Distinguish between by-products and joint products Joint products are “two or more products separated in processing , each having a sufficiently high saleable value to merit recognition as a main product”. A by-product , like a joint product is the result of the main production activity. However, by-products are produced in comparatively less volume. By-products are generally formed in continuous process industries. Industries producing joint products and industries producing by-products differ only in degree and not in kind. It is the relative sales value of the output that dete