JOINT COSTS Definition

Bookmark and Share

JOINT COSTS are costs incurred to produce a certain amount of two or more products where the cost of producing one product cannot be logically isolated and cost allocation is arbitrary. Simplified, they are the costs of a single production process that yields multiple products simultaneously.

Learn new Accounting Terms

CREDITORS are the entities to which a debt is owed by another entity.

MULTIPLE REGRESSION of approximating cost is a statistical method that can be used to estimate a cost function when there is more than one independent variable.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.