How should this be accounted for before the period

Reference no: EM133424678

Question 1: What is normal spoilage?

How is the amount determined?

How SHOULD THIS BE accounted for before the period? Let's say we anticipated normal spoilage of $100,000 - what would we do with it.

How SHOULD it be accounted for during the period? (this is what the book shows you)

What if they didn't do what you said above but instead, stuck all the cost in the WIP for the job. What has to be done now in order to correct it?

Reference no: EM133424678

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