Cost Accounting, 14e (Horngren/Datar/Rajan) Chapter 16 Cost Allocation: Joint Products and Byproducts
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Course
Cost accounting
Institution
Cost Accounting
Cost Accounting, 14e
(Horngren/Datar/Rajan)
Chapter 16 Cost Allocation: Joint Products and Byproducts
Objective 16.1
1) What type of cost is the result of an event that results in more than one product or ser
vice
simultaneously?
A) byproduct cost
B) joint cost
C) main cost ...
Chapter 16 Cost Allocation: Joint Products and Byproducts
Objective 16.1
1) What type of cost is the result of an event that results in more than one product or ser
vice
simultaneously?
A) byproduct cost
B) joint cost
C) main cost
D) separable cost
Answer: B
2) All costs incurred beyond the splitof point that are assignable to one or more individu
al products are
called:
A) byproduct costs
B) joint costs
C) main costs
D) separable costs
Answer: D
3) In joint costing:
A) costs are assigned to individual products as assembly of the product occurs
,B) costs are assigned to individual products as disassembly of the product occurs
C) a single production process yields two or more products
D) Both B and C are correct.
Answer: D
4) The ________ point is the juncture in a joint production process when two or more produ
cts become
separately identiiable.
A) splitof
B) joint product
C) process
D) end
Answer: A
5) The focus of joint costing is on allocating costs to individual products:
A) before the splitof point
B) after the splitof point
C) at the splitof point
D) at the end of production
Answer: C
6) When a single manufacturing process yields two products, one of which has a relativel
y high sales
value compared to the other, the two products are respectively known as:
A) joint products and byproducts
B) joint products and scrap
C) main products and byproducts
, D) main products and joint products
Answer: C
7) When a joint production process yields two or more products with high total sales valu
es, these
products are called:
A) main products
B) joint products
C) byproducts
D) scrap
Answer: B
8) Byproducts and main products are diferentiated by the:
A) number of units per processing period
B) weight or volume of outputs per period
C) amount of total sales value
D) None of these answers is correct.
Answer: C
9) All of the following changes may indicate a change in product classiication of a manufacturing pro
cess
which has a splitof point EXCEPT a:
A) byproduct increases in sales value due to a new application
B) main product becomes a joint product
C) main product becomes technologically obsolete
D) byproduct loses its market due to a new invention
Answer: B
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