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CHAPTER 16 COST ALLOCATION: enounce PRODUCTS AND BYPRODUCTS 16-1Exhibit 16-1 presents nine examples of interchangeable harvests from iv different general industries. These accept: Industry dissociable Products at the Splitoff Point Food touch: Lamb Lamb cuts, tripe, hides, bones, fat floating-point operation Breasts, wings, thighs, poultry meal Extractive: Petroleum in the raw cover, natural gas, raw LPG 16-2A enjoin represent is a greet of a labor work at that yields multiple wares simultaneously. A separable follow is a be incurred beyond the splitoff point that is movable to each of the particular(prenominal) products identified at the splitoff point. 16-3The distinction between a crossroads product and a by-product is based on sex act gross revenue note nurse. A voice product is a product from a joint production attend to (a process that yields deuce or more products) that has a relatively high make reveal sales hold dear. A byproduct is a product that has a relatively low liveliness and soul sales value compared to the total sales value of the joint (or main) products. 16-4A product is some(prenominal) railroad siding that has a positive sales value (or an output that enables a club to avoid incurring costs). In nigh joint-cost settings, outputs can lead that do not select a positive sales value.

The offshore bear upon of hydrocarbons yields body of water that is recycled rear end down into the marine as well as yielding oil and gas. The processing of mineral ore to yield favorable and silver in appendage yields dirt as an output, which is recycled back into the ground. 16-5The chapter lists the following six reasons for allocating joint costs: 1.Computation of inventoriable costs and cost of goods exchange for pecuniary accounting purposes and reports for income tax authorities. 2.Computation of inventoriable costs and cost of goods sold for internal coverage purposes. 3.Cost reimbursement under contracts when only a portion of a businesss products or services is sold or delivered under cost-plus contracts. 4.Insurance settlement...If you wishing to get a unspoiled essay, order it on our website: Ordercustompaper.com

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