If a company obtains two salable products from the refining of one ore,the refining process should be accounted for as a(n)
A)mixed cost process.
B)joint process.
C)extractive process.
D)reduction process.

Question

Quizplus · Accepted Answer

When a company obtains two or more salable products from the refining of one ore, the refining process is accounted for as a joint process. Joint products are two or more products that are produced during a common production process where the costs of the process cannot be attributed to individual products. Therefore, joint costs must be allocated among the joint products.

If a Company Obtains Two Salable Products from the Refining