A by-product is a product that is an additional part of the primary production process. Any proceeds from the sale of a by-product are typically offset against the cost of the primary product, or recorded as miscellaneous revenue. It has a small resale value in comparison to the value of the primary product being manufactured.
By Products and Joint Products: After studying this chapter you should be able to: Many industrial concerns are confronted with the difficult and often rather complicated problem of assigning costs to their by-products and joint products. Chemical companies, coke manufacturers, refineries, flour mills, coal
By-Products and Main Products: Learning Objectives: Define and explain By-Products. Definition and Explanation of By Products: The term “by product” is generally used to denote one or more products of relatively small total value that are produced simultaneously with a product of greater total