Solution-Which costs of abnormal spoilage are usually

Which costs of abnormal spoilage are usually accounted for

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Reference no: EM132742258

Problem 1: Costs of abnormal spoilage are usually accounted for as

a. part of the cost of goods sold.

b. part of the cost of goods manufactured.

c. a separate line item in the income statement.

d. an asset in the balance sheet

Problem 2: In a process cost system, the cost of spoilage due to an internal production failure should be recorded as:

a. dr. Work in Process; cr. Finished Goods

b. dr. Work in Process; cr. Factory Overhead Control

c. dr. Factory Overhead Control; cr. Work in Process

d. dr. Materials; cr. Factory Overhead

e. dr. Finished Goods; cr. Work in Process

Reference no: EM132742258

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Which costs of abnormal spoilage are usually accounted for

Reference no: EM132742258

Reference no: EM132742258

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