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.

by using  production possibilities graph.  opportunity costs are key expenses in financial matters and are utilized as a part of registering money saving advantage investigation of a venture. such expenses, be that as it may, are not recorded in the record books but rather are perceived in basic leadership by processing the money costs and their subsequent benefit or misfortune.