joint costs

joint costs

the COSTS involved in producing several products from the same process, for example petrol, diesel, tar, etc. which derive from a common oil-refining process. Joint costs such as oil-refinery running costs are difficult to allocate precisely between the different products in determining the exact cost of each. See COSTING, BY-PRODUCT.

joint costs

the COSTS involved in producing several products that are in JOINT SUPPLY, for example, petrol, diesel, tar, etc., produced from a common oil-refining process. Joint costs such as oil-refinery running costs are difficult to allocate precisely among the different products in determining the exact cost of each.
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