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• W45923224 abstract "Joint product costing (JPC) is an integral component of undergraduate and graduate cost and managerial accounting courses. Students often have difficulty grasping the complexities of cost allocation among products because joint product costing can be a complex and daunting undertaking. Its practical and conceptual intricacies can be confusing, particularly if professors use traditional learning methods, such as textbooks and lectures, to teach the concepts. We propose using the JPC Simulator, a Flash-based simulation featuring interactive, graphical depictions, to teach the basic concepts of joint product costing. Through technologically based simulations, professors can supplement and enhance conventional instructional delivery methods. Our simulation provides a framework and technological means to teach joint product costing at diverse levels within the accounting curriculum. We will walk you through all the activities involved in navigating a computer-based joint product costing simulation. To do so, we will present a simulation of a chemicals company that permits users to manipulate cost and production data among several chemical products. The simulation allows for the efficient understanding of the accounting complexities of joint products and byproducts. Our simulation restricts joint cost assignment to products to the net realizable value (NRV) basis. We also use alternative criteria, including physical attributes such as weight and volume. NAVIGATING THE SIMULATOR As we step through the activities, you will become familiar with the chemical plant layout and products. In the first stage of interaction, you will be processing various chemical products from a single chemical compound commercially known as RHO. Initially, the RHO tank is empty. The plant consists of a series of holding tanks and processors connected together by pipes. To begin, let's examine the layout through the joint product split-off of RHO into Alpha and Beta (Figure 1). Later, the screen (i.e., stage of production) will make room for all of the products. Before enabling any interfaces, you assemble the entire plant. [FIGURE 1 OMITTED] The valve to the left of the RHO tank initiates processing by allowing the tank to fill with 100 gallons of RHO. Once the tank is full, a processor (i.e., the component with the gauge attachment) is enabled that, when activated, breaks down the RHO into two products: Alpha and Beta. An adjustable slide bar allows you to dictate how much of the RHO is processed into Alpha versus how much is processed into Beta. You can adjust the slide bar at any time, even after processing is done. (In fact, you can dynamically update at any time, thus allowing for subsequent complex sensitivity analysis.) After the system creates the Alpha and Beta batches, it activates additional processors to convert Alpha and Beta into still more products. Figure 2 features the Alpha side. [FIGURE 2 OMITTED] The plant can process Alpha further into Super Alpha, which yields a byproduct known as Zeta. This results in 88% of Alpha's volume being converted into Super Alpha and 12% into Zeta. After the processor produces Super Alpha, another processor converts Super Alpha into Ultra Alpha. There is no change in volume between Super Alpha and Ultra Alpha. The processing associated with the subsequent processing of the other split-off main product, Beta, is considerably more complex and more realistic (see Figure 3). [FIGURE 3 OMITTED] The plant can process Beta into Super Beta. Observe that a slider is present (default value of 10%) that allows for recognizing a volume loss from Beta into Super Beta. Finally, you can create Ultra Beta by combining Super Beta with a compound called Omega. The volume of Ultra Beta depends on the mix ratio, which you can adjust at any time using the slide bar. (The default value is a 1:1 ratio.) Figure 4 depicts the entire manufacturing system. …" @default.
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• W45923224 date "2009-09-22" @default.
• W45923224 modified "2023-09-26" @default.
• W45923224 title "Using Technology to Teach Joint Product Costing" @default.
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