Joint products and by$-$products are produced simultaneously by a single process or series of processes and:

Multiple Choice

all by$-$products must be allocated some portion of joint costs.

the revenue from by$-$products may be recognized at the time of production.

joint products are salable at the split$-$off point, but by$-$products are not.

by$-$products are salable at the split$-$off point, but joint products are not.