The stage of production at which separate product are identified is known as
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The answer is split off stage, in which the joint products are separated as distinct products and can be sold or process further.
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The stage of production at which separate product are identified is known as Process costing.
Explanation:
Process costing is a method of costing used mainly in manufacturing where units are continuously mass-produced through one or more processes.
5 Steps for Process Costing
- Analyze inventory flow.
- Convert in-process inventory to equivalent units.
- Compute all applicable costs.
- Calculate the cost per unit of finished and in-process inventory.
- Allocate costs to units of finished and in-process inventory.
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