joint costs
nounUK /dʒɔɪnt kɒsts/
US /dʒɔɪnt kɔsts/
Joint costs are the money a company spends to make several products at the same time.
The joint costs of raising sheep include feeding and caring for them, which gives both wool and meat.
RELATED WORDS
OTHER MEANINGS
2. Expenses that benefit more than one department or activity and are shared among them.
Rent for the building is a joint cost shared by all the teams.
3. Costs incurred before products can be separated in a production process.
The joint costs of refining crude oil cover everything up to the point where gasoline and diesel are separated.
4. In everyday use, expenses that two or more people pay for together.
The roommates split the joint costs of electricity and internet.