Benjamin Company produces products C, J, and R from a joint production process. Each product may be sold at the split-off point or processed further. Joint production costs of $95,000 per year are allocated to the products based on the relative number of units produced. Data for Benjamin's operations for last year follow (THIS IS PRESENTED IN THE ATTACHED WORD DOCUMENT):
Which products should be processed beyond the split-off point?
The solution provides a simple and easy way of understanding how to ...
The solution deals with making decisions on maximizing profits from products.
The objective is to determine whether it is more profitable to sell a product without further processing.
Accounting for Decision Making Control
See attached file.
Provide a short bullet (1 sentence if possible) explanation for the following accounting terms.
Decision making and control-
Design and use of cost systems-
Cost-volume- Profit Analysis-
Opportunity cost versus Accounting Cost-
Opportunity Cost of Capital-
Interest Rate Fundamental-
Generic Budgeting Systems-
Decision ManagementControl Trade Offs-
Pervasiveness of Cost Allocations-
Job Order Costing-
Variable Direct costing-
Direct Labor and Material Variances-
Organization and Management Accounting-