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Indicate Whether the Following Costs Would Be Treated as Joint-Product

Question 126

Matching

Indicate whether the following costs would be treated as joint-product costs or costs incurred after the split-off point.Use J for joint product costs and S for costs incurred after the split-off point.

Premises:

Responses:

Costs of chopping onions to be used in spaghetti sauce and soup in a food manufacturer

joint product costs

Cost of processing wood and sawdust into particle board in a sawmill

costs incurred after the split-off point

Costs of processing apples at a cider mill

Cost of processing rejected meat parts into hot dogs in a meat processing plant

Costs of processing pineapples into juice and sliced pineapples

Costs of refining gasoline in (d) above

Costs of running a fishing boat used to catch varieties of fish, lobsters, etc.

Labor costs, of “shucking” clams to produce clam chowder

Utility costs of processing timber for a lumber manufacturer

Cost of planting, growing and picking pineapples in a pineapple factory

Ingredients and packaging added to batches of spaghetti in (g) above

Processing of pulp into paperboard in a paper manufacturer

Depreciation on oil rigs for an oil producer

Premises:

Costs of chopping onions to be used in spaghetti sauce and soup in a food manufacturer

Cost of processing wood and sawdust into particle board in a sawmill

Costs of processing apples at a cider mill

Cost of processing rejected meat parts into hot dogs in a meat processing plant

Costs of processing pineapples into juice and sliced pineapples

Costs of refining gasoline in (d) above

Costs of running a fishing boat used to catch varieties of fish, lobsters, etc.

Labor costs, of “shucking” clams to produce clam chowder

Utility costs of processing timber for a lumber manufacturer

Cost of planting, growing and picking pineapples in a pineapple factory

Ingredients and packaging added to batches of spaghetti in (g) above

Processing of pulp into paperboard in a paper manufacturer

Depreciation on oil rigs for an oil producer

Responses:

joint product costs

costs incurred after the split-off point

Correct Answer:

Premises:

Responses:

Costs of chopping onions to be used in spaghetti sauce and soup in a food manufacturer

Cost of processing wood and sawdust into particle board in a sawmill

Costs of processing apples at a cider mill

Cost of processing rejected meat parts into hot dogs in a meat processing plant

Costs of processing pineapples into juice and sliced pineapples

Costs of refining gasoline in (d) above

Costs of running a fishing boat used to catch varieties of fish, lobsters, etc.

Labor costs, of “shucking” clams to produce clam chowder

Utility costs of processing timber for a lumber manufacturer

Cost of planting, growing and picking pineapples in a pineapple factory

Ingredients and packaging added to batches of spaghetti in (g) above

Processing of pulp into paperboard in a paper manufacturer

Depreciation on oil rigs for an oil producer

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