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The meat production process of Konyana products follows a joint process, and therefore, joint costing is used to cost the lamb meat products. The products
The meat production process of Konyana products follows a joint process, and therefore,
joint costing is used to cost the lamb meat products. The products undergo further
processing after a splitoff point. The joint costs are allocated using the physical measures
method. The lamb meat products are the Forequarter, Hindquarter, and Loin. The
Forequarter: the neck, shoulder, front legs, and the ribs up to the shoulder blade. The
Hindquarter: the rear legs and hip. The Loin: part between hipbone and last rib.
The financial information for the month of August is as follows:
Joint Products:
In August, the products were manufactured at a total joint cost of R
Further processing of joint products:
Sales neither opening nor closing inventory is kept:
ByProduct:
The residual products, namely the hide, intestines, and wool are the byproducts. These
products have a regular market. For the month of August, the net realisable value of these
byproducts was R
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