Learning Outcomes
Discuss what is a joint process, and the difference between a by-product and a main product.
Explain how joint costs are allocated.
Discuss what factors are considered in choosing a joint cost allocation method.
Discuss how budgets contribute to the strategic management process.
Discuss what are flexible budgets, and how can they be used for sensitivity analysis.
10.2 Action Required:Watch the short video in the following link:
Joint Cost
Static and Flexible Budgets
10.3 Test your Knowledge (Question):
Discuss the concept of Joint Product and By-Product Costing. Difference between a by-product and a main product.
Explain the significance of budget for an organization. Discuss the role of budgets in the strategic management process.
10.4 Instructions: Answer the above questions to test your knowledge.
Post your answer on the discussion board using the discussion link below (Week10:Interactive learning Discussion)
