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

CONTROLLABILITY, COST is the financial policy of controlling, limiting or curbing the cost of materials, labor, and overhead.

INTEREST PAYABLE see PAYABLE.

Suggest a Term

Enter Search Term

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