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Decision making in Cost acounting: Joint products

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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):

Required:
Which products should be processed beyond the split-off point?

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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.

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Accounting for Decision Making Control

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Provide a short bullet (1 sentence if possible) explanation for the following accounting terms.

Decision making and control-
Design and use of cost systems-
Opportunity cost-
Cost variation-
Cost-volume- Profit Analysis-
Opportunity cost versus Accounting Cost-
Cost Estimation-

Opportunity Cost of Capital-
Interest Rate Fundamental-
Capital Budgeting-
Organization Architecture-

Responsibility Accounting-
Transfer Pricing-
Generic Budgeting Systems-
Decision ManagementControl Trade Offs-

Pervasiveness of Cost Allocations-
Cost Allocations-
Joint Cost-

Job Order Costing-
Cost Flows-
Volume Changes-
Process Costing-

Overproduction-
Variable Direct costing-
Product Costing-
Based Costing-

Standard Cost-
Direct Labor and Material Variances-

Overhead Variances-
Marketing Variances-
Integrated Framework-
Organization and Management Accounting-

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