Question

Joint costs are Select one: A. costs incurred prior to the split-off point when producing products that appear simultaneously. B. most often found in companies that further process the final output of other manufacturing firms. C. relevant to decisions to sell joint products or to process them further. D. separately identifiable at the split-off point.

Answer 1

Answer:

A. costs incurred prior to the split-off point when producing products that appear simultaneously.

Explanation:

Joint costs are costs incurred prior to the split-off point when producing products that appear simultaneously.

In cost and manufacturing accounting, a joint cost is a cost incurred in a joint process or during a joint production of more than one output and may include direct material, direct labor, and overhead costs incurred before the split-off point.