Costs that are shard in the manufacturing and marketing of several products in a product line are called joint costs.

Question

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Joint costs refer to the costs that are incurred in the manufacturing and marketing of several products in a product line, which cannot be easily allocated to specific products. These costs are considered shared costs as they are incurred jointly and cannot be directly attributed to a particular product within the product line.

Costs That Are Shard in the Manufacturing and Marketing of Several