How are joint costs allocated? Explain and analyze using numerical example.

What are Joint Costs?

Using a physical measurement method, what amount is joint processing cost is allocated to product Wan? Using net realizable value at split-off, what amount of joint processing cost is allocated to product tri?

Of the various methods used to allocate joint costs, which makes the most sense to you?

Why might the number of products in a joint - cost situation differ from the number of outputs? Give an example.

Using the physical units method to allocate joint production cost would be?

Give two examples of industries in which joint costs are found.For each example , what are the individual products are at the splitoff point?