1.

Traditional cost systems tend to over-cost standard stanchions which result in?

Reporting higher profit margins for a product

Reporting lower profit margins for a product

Reporting only the break-even margins for a product

Reporting only the negative profit margins for a product

2.

My company uses the same blue wool thread to make sweaters, gloves and hats. While they are still in the process of being completed, they would be an example of which of the below?

Stand-alone products

Split-off products

Finishing products

Joint products

please explain and provide correct answer