Page 41 - P1 Integrated Workbook STUDENT 2018
P. 41
Other elements of cost accounting systems
Joint product costing
1.1 Why it is necessary
Joint Further
product A processing
Labour and
overheads
Common Joint Further
process product B processing
Raw
materials
Proceeds from the
A by-product is By sale of a by-
output of some product C product may be
value produced treated as pure
incidentally in profit, or may be
manufacturing used to reduce the
something else cost of the
(main product). common process.
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