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Explain term joint products in context of process costing

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Reference no: EM131626575

Question: (a) Explain briefly the term joint products in the context of process costing.

(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.)

(c) Explain briefly the concept of 'equivalent units' in process costing.

Reference no: EM131626575

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