Question: 1. Identify the two primary methods used to allocate joint costs. 2. Compare the advantages and disadvantages of the two primary methods used to allocate

1. Identify the two primary methods used to allocate joint costs.

2. Compare the advantages and disadvantages of the two primary methods used to allocate joint costs to joint products.

3. Explain how the choice of allocation method may affect the financial statements.

4. Understand how U.S. chicken producers used the method of allocating joint costs for chicken processing.

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