Name Course Professor Date Joint Production of a Common Raw Material Joint production is processing of two or more products of equal importance separated in the course of processing each having a seemingly high saleable value. For instance in the oil industry fuel oil lubricants coal tar and kerosene are all produced from crude oil. These are joint products that are produced together to save the time and cost of single production of a single product. There are other factors that result in the joint production of good and services. These factors include geological effects technological factors geopolitical effects environmental impact and social factors that affect production (Mancini Lorenzo and Serenella 11). These factors have allowed joint production to the answer to this economical global riddle. Most organizations prefer joint production it is economical due to adapted in cases where various products are obtained from a similar raw material. Therefore an organization decides to carry out a single process to obtain multiple products at different stages of production. This method of production had various effects which include cost reduction saving labor and energy reduced level of waste products as well as influencing the decisions taken in the organization. Work Cited Mancini Lucia Lorenzo Benini and Serenella Sala. "Characterization of raw materials based on supply risk indicators for Europe." The International Journal of Life Cycle Assessment (2016): 1-13. Smith B. Gail “Developing sustainable food supply chains.” Philosophical transactions of the royal society of London B: Biological sciences 363. 1492 (2008): 849-861. Wognum PM Nel et al. “Systems for sustainability and transparency of food supply chains- Current status and challenges.” Advanced Engineering Informatics 25.1 (2011): 65-76 [...]
Term Paper: A three page paper on a managerial accounting topic. The topic should be drawn from managerial topics introduced in the text. The three page paper must be typed, double-space. The paper must begin with a clearly defined introduction, followed by a discussion of the managerial topic based on the student's understanding of information from referenced article ( three article are required for reference). The discussion should include an analysis of the current and future impact on business or society. The paper must end with a clearly defined conclusion. A minimum three references must be identified in the reference section of the paper.