Answered: Cost of abnormal wastage is. a. Charged…

Cost of abnormal wastage is. a. Charged the costing profit and loss account b. Charged partly to the product and profit and loss account c. Charged to the product cost d. Not charged at all

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.

Question

19- Cost of abnormal wastage is. a. Charged the costing profit and loss account b. Charged partly to the product and profit and loss account c. Charged to the product cost d. Not charged at all

Definition Definition Amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item

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