Joint Product Cost Definition: A joint cost may be defined as that cost which arises from the common processing or manufacturing of products produced from a common raw material. Whenever two or more different products are created from a single cost factor, a joint
Define Joint Product Cost
Joint Product Cost is costs of two or more products that come from the same developing process that have no way to differentiate the cost of producing each good. Costs are then divided up based on the selling price of each individual product.