Costs incurred in production process that yield range of products simultaneously are known as

A. separable costs

B. joint costs

C. main costs

D. split off costs

Answer: Option B

Solution(By Examveda Team)

Costs incurred in production process that yield range of products simultaneously are known as joint costs. Joint cost is the manufacturing cost incurred on a joint production process which takes common inputs but simultaneously produces multiple products called joint-products.