Describe the three methods used to allocate joint costs

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Part 1: Allocating Joint Costs

Describe the three methods used to allocate joint costs. What are the advantages/disadvantages of each allocation method? Which method would you recommend? Why? Support your position with evidence from the text or external sources.

Part 2: Variable/Absorption Costing

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2 Required Resource
2.1 Text
2.2 Multimedia

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As you read in Chapter 8, there are arguments (for and against) variable costing and absorption costing. Select one of these costing methods and explore the various arguments.  Determine whether you are “for” or “against” this selected method. Provide evidence from the text to support your position.

Required Resource

Text

Schneider, A. (2017). Managerial Accounting: Decision making for the service and manufacturing sectors (2nd ed.) [Electronic version]. Retrieved from https://content.ashford.edu/

· Chapter 5: Joint Cost Allocation and Variable Costing

· Chapter 8: Cost Control Through Standard Costs

Recommended Resource

Multimedia

Crosson, S. (2007). PVA ABC JIT – 4 ABC example [Video File]. Retrieved from http://www.youtube.com/watch?v=eyH4l3VvOCU.