Intermediate (a) Explain briefly the term joint products in the context of process costing. (2 marks) (b)
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Intermediate
(a) Explain briefly the term ‘joint products’ in the context of process costing. (2 marks)
(b) Discuss whether, and if so how, joint process costs should be shared amongst joint products. (Assume that no further processing is required after the split-off point.)
(11 marks)
(c)Explain briefly the concept of ‘equivalent units’ in process costing.
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