Accounting · Cost Accounting - By-products
Which of the following is NOT an acceptable method of accounting for by-products?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1By-product income less post-separation costs is credited to the profit and loss account or main product sales
- 2Sales value of the by-product is deducted from the cost of the main product
- 3Pre-separation joint costs are apportioned to the by-product to calculate its independent profit✓
- 4Net realizable value of the by-product is deducted from the cost of the main product
Correct answer
Pre-separation joint costs are apportioned to the by-product to calculate its independent profit
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