Which of the following industries would most likely have joint costs in production?

Question

Quizplus · Accepted Answer

All of these industries involve the extraction and processing of raw materials or the use of raw materials in manufacturing, which often results in multiple products being produced simultaneously from a single production process. These separate products share common costs, such as the cost of raw materials and the cost of the production process itself, leading to joint costs. As a result, companies in these industries must allocate joint costs among the various products they produce in order to determine the profitability of each product.

Which of the Following Industries Would Most Likely Have Joint