Joint costs are useful for a. setting the selling price of a product. b. determining inventory cost for accounting purposes. c. evaluating management by means of a responsibility reporting system. d. determining whether to continue producing an item.

B. Determining inventory cost for accounting purposes

Explanation:

Joint cost is the manufacturing cost incurred on a joint production process which takes common inputs but at the same time produces multiple products called joint-products e.g. processing of crude oil simultaneously yields gasoline, diesel, jet fuel, lubricants and other products.

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