Question 1
Which of the following factors would guide you in classifying a product as a main product or byproduct?
◦ Number of units per processing period
◦ Weight or volume of outputs per period
◦ Percentage of total sales value
◦ Joint costs incurred up to the split-off point
Question 2
Which of the following statements best define joint products?
◦ When one product has a high total sales value compared with the total sales value of other products of the process, that product is called a joint product.
◦ Product of a joint production process that have the same sales value compared with the total sales value of the by products is called a joint product.
◦ When one product has a low total sales value compared with the total sales value of other products of the process, that product is called a joint product.
◦ When a joint production process yields two or more products with high total sales values relative to the total sales values of other products, those products are called joint products.
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