TAILIEUCHUNG - Lecture Cost management: Measuring, monitoring, and motivating performance (3rd edition) – Chapter 9

Chapter 9 - Joint product and by-product costing. In this chapter students will be able to: Describe a joint process, and explain the difference between a by-product and a main product; allocate joint costs; explain the factors that are considered in choosing a joint cost allocation method; . | Lecture Cost management Measuring monitoring and motivating performance 3rd edition Chapter 9 COST MANAGEMENT Measuring Monitoring and Motivating Performance Third Canadian Edition ELDENBURG WOLCOTT CHEN COOK Chapter 9 Joint Product and By-product Costing Learning Objectives LO1 Describe a joint process and explain the difference between a by-product and a main product LO2 Allocate joint costs LO3 Explain the factors that are considered in choosing a joint cost allocation method LO4 Identify the relevant information for deciding whether to process a joint product beyond the split-off point LO5 Apply the methods that are used to account for the sale of by-products LO6 Explain how a sales mix affects joint cost allocation LO7 Evaluate the uses and limitations of joint cost information LO1 Describe a joint process and explain the difference between a by-product and a main product Joint Processes and Costs A process that yields one or more products is called a joint process. The products are called joint products The costs of the process are called joint costs A main product has high sales value compared to the other joint products. Joint products that have minimal sales value compared to the main product are called by-products The split-off point is the stage in the joint process where the separate products become identifiable. Joints costs are incurred prior to the split-off point. Costs incurred past split-off are separable costs Joint Processes and Costs If sawdust sells for a relatively minimal amount it Sawdust is a byproduct. The costs of processing planks further are separable Bark costs. Planks Wall Joint costs include DM DL paneling amp Overhead. Joint products LO2 Allocate joint costs Methods of Allocating Joint Costs Physical output methods The physical output method allocates joint costs using the relative proportion of physical output for each main product. This method is used only when output for all main products can be expressed using the same .

• Quản trị kinh doanh
• Cost management
• Quản lý chi phí
• Lecture Cost management
• Strategic management
• Decision making
• Joint product
• Management control systems
• Cost accounting
• Fundamentals of cost accounting
• Cost analysis
• Cost management systems
• Cost systems
• Strategic performance measurement
• Cost management information
• Financial reporting
• Operational performance measurement
• Resource capacity management
• Indirect cost variances
• Cost allocation
• Cost allocation bases
• Cost estimation
• Cost estimation methods
• Ebook Management and cost accounting
• Management and cost accounting
• Management accounting
• Cost assignment
• Process costing
• Cost volume profit analysis
• Project management
• Lecture Project management in practice
• Project cost management
• Project perspective
• Cost management plan
• Cost versus expenses
• Cost volume profit
• Short term profit planning
• Cost planning
• Product life cycle
• Direct cost variances
• Nonfinancial performance measures
• Cost centers
• Profit centers