Explain the difference between a joint product and a byproduct. Can a byproduct ever become a joint product? Also, can a joint product ever become a byproduct?
What will be an ideal response?
Answer: The differentiating factor between a joint product and a byproduct is the sales value at the splitoff point. Joint products have high total sales value at the splitoff point. A byproduct has a low total sales value at the splitoff point. Products can change from byproducts to joint products when their total sales values increase significantly. Also, products can change from joint products to by products when their total sales values decrease significantly.
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