The point at which joint products and by-products become separately identifiable is known as:

Related MCQs

• Specific order costing methods are appropriate for organizations which produce cost units which are separately identifiable from one another.
• Batch costing is similar to job costing in that each batch of similar articles is separately identifiable.
• In Units basis, Common costs are apportioned between joint products on the basis of the total number of units produced. The cost per unit is the same for all the joint products. (This is also described as the physical quantities basis).
• Joint Cost are ………………to individual joint products.
• In order to calculate a cost for each joint product, the common costs must be ________ between the joint products.
• Joint products are two or more products generated simultaneously, by a single manufacturing process using common input, and being substantially equal in value.
• By products are outputs from a joint process that are relatively minor in quantity and/or value.
• Which of the methods of apportionment is normally used for apportioning common costs between joint products?
• The relative sales value method is the most widely used method of apportioning joint costs because (ignoring the effect of further processing costs) it assumes that all products achieve the same profit margin.
• The stage of production at which separate products are identified is known as _______________: