Answer true or false to the following statements: lop7 By-products are always insignificant and should never have the main products’ production cost allocated to them.

When joint products are proportionately fixed, the production decision is based on which product obtains the most profit.

Joint product and by-product costing are used for income and inventory determinations.

The complexities affecting the production of joint products are not reflected in the weighted average output method.

Scrap has greater sales value than by-products but never undergoes further processing after split-off.

Decision making involves output decisions, further-processing decisions, and pricing decisions.

The total joint costs influence the decision of whether to sell at the split-off point or manufacture the product further.