Questions:
1. In making a product, a valuable by-product is made. This by-product can be sold in the form in which it is produced or can be subjected to further processing, after which it is saleable at a higher price. Explain how you would present information to management to show the best way of dealing with the by-product.
2. Discuss the methods used for apportioning the joint costs in case of joint products.
3. What do you understand by ‘split off point'? Explain with examples.