"What's the Big Fuss About Learning Three Different Methods of Cost

question 81

Essay

"What's the big fuss about learning three different methods of cost allocation for joint products? The total cost doesn't change, and the real question that needs answering is whether to further process joint products or sell right away.Besides, our firm uses JIT inventory, so there aren't any ending inventories to cost."
Required:
Comment on these ideas.

---

Definitions:

Selectivity

Refers to the process of choosing or making a choice when faced with several options, often used in the context of attention, perception, or consumer choices.

Selective Attention

Focusing on a specific aspect of experience that is relevant while ignoring others that are irrelevant.

Information-Processing Development

A framework describing how humans perceive, analyze, manipulate, use, and remember information.

Information-Processing Approach

A perspective in psychology that likens the mind to a computer, focusing on how people process, store, and retrieve information.