Material losses due to abnormal reasons should be transferred to…………………

Related MCQs

• An input of 5000kg of material introduced into the process and the expected loss is 8% and if the actual output from the process is 4300, the abnormal loss is …………kg
• …………..process loss should be transferred to costing profit & loss account.
• Abnormal cost is …………………..
• When actual loss is ………..than the estimated loss, the difference between the two is considered to be abnormal gain
• When actual loss is ………………than the estimated loss, the difference between the two is considered to be abnormal loss.
• In process costing, the abnormal loss is treated as ……….cost and written off to profit & loss account.
• PP Ltd is preparing the production and material purchase budgets for one of their products, The SUPERX for the forthcoming year. The following information is available: Sales demand (units) 30000 Material usage per unit 7 kgs Estimated opening inventory 3500 units Required closing inventory 35% higher than opening inventory How many units of the SUPERX will need to be produced?
• …………………represents that quantity of material which is normally ordered when a particular material reaches reordering level.
• Material Usage Variance=Material Mix Variance +…………..
• A material loss during production or storage due to evaporation or shrinkage is called: