Hello,

Can you explain the concepts for Joint cost, variable and absorption cost. I have to answer the discussion questions and I am trying to have a better understand of the concepts. With Joint cost I need to understand how different methods ( Physical Measure of output, relative sales value, net realizable value and byproducts and scrap) are allocated in joint cost...

Any help would be greatly appreciated!

Thanks

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. Your initial post should be 200-250 words. Guided Response: Review several of your classmates' postings. Respond to at least two of your classmates by asking a question to challenge their recommended allocation method. Support your question and/or comments with evidence from the text or external sources. Carefully review the Discussion Forum Grading Rubrics for the criteria that will be used to evaluate this Discussion Thread. Variable/Absorption Costing 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. Your initial post should be 200-250 words