Q717
Costs incurred in production process that yield range of products simultaneously are known as
A.
separable costs
B.
joint costs
AnswerC.
main costs
D.
split off costs
Answer: Option B
Solution
Answer: Option B
Solution:
Costs incurred in production process that yield range of products simultaneously are known as joint costs. Joint cost is the manufacturing cost incurred on a joint production process which takes common inputs but simultaneously produces multiple products called joint-products.