Difference Between Joint Product and By-Product

When the production of two or more products of similar value, are made together with same input and process, is called joint product. The term by-product means a product which is incidentally produced, during the processing operation of another product. Joint products have same economic value.

1. What is an example of a by-product?
2. What is joint product example?
3. What are products and byproducts?
4. What does a by-product mean?
5. What is the brand name of a product?
6. What is another word for by product?
7. What are the features of joint products?
8. What will justify the treatment of a product as joint product?
9. What cost means?
10. Are eggs an animal by-product?
11. Is milk a by-product?
12. What is a side product?

What is an example of a by-product?

byproduct Add to list Share. When the process of making one thing results in a second product as well, that second thing is called a byproduct. Molasses, for example, is a byproduct of refining sugar. ... Sawdust is a byproduct of the lumber industry, and feathers are a byproduct of poultry processing.

What is joint product example?

Joint products are two or more products that are generated within a single production process; they cannot be produced separately and incur undifferentiated joint costs. ... Examples of join products include: Milk – butter, cream, cheese. Crude oil – fuel, gas, kerosene.

What are products and byproducts?

A by-product or byproduct is a secondary product derived from a production process, manufacturing process or chemical reaction; it is not the primary product or service being produced.

What does a by-product mean?

1 : something produced in a usually industrial or biological process in addition to the principal product Sulfured molasses is a by-product of sugar refining.—

What is the brand name of a product?

Brand name is one of the brand elements which helps the customers to identify and differentiate one product from another. It should be chosen very carefully as it captures the key theme of a product in an efficient and economical manner.

What is another word for by product?

by-product

• derivate,
• derivation,
• derivative,
• offshoot,
• outgrowth,
• spin-off.

What are the features of joint products?

Following are the characteristics of joint products:

• The value of all the joint products is more or less the same.
• Such products don't necessarily require processing after a point of separation. ...
• Such products need simultaneous standard processing.
• The raw material or materials they use are the same.

What will justify the treatment of a product as joint product?

Justification of the treatment of joint product as by-product: A joint product is normally treated as a by-product if its sales value is relatively minor compared to other joint products.

What cost means?

Definition: In business and accounting, cost is the monetary value that has been spent by a company in order to produce something. ... This is the amount charged for a product by the seller, and it includes both the cost to make the product and the mark-up cost added by the seller to produce a profit.

Are eggs an animal by-product?

An animal product, also known as lacticinia, is any material derived from the body of an animal. Examples are fat, flesh, blood, milk, eggs, and lesser known products, such as isinglass and rennet. Animal by-products, as defined by the USDA, are products harvested or manufactured from livestock other than muscle meat.

Is milk a by-product?

However, most milk is manufactured into more stable dairy products of worldwide commerce, such as butter, cheese, dried milks, ice cream, and condensed milk.
...
Nutrient composition.

What is a side product?

Side products are impurities which appear during the reaction as a result of (1) side reactions that can be alternative reaction pathways or (2) further reaction/degradation of the desired product after it has formed.