Cost Accounting

Which of the following cannot be rectified and brought back to normal specification even after incurring additional rectification cost.

• scrap

• defective

• waste

• spoilage

Which of the following could be rectified and can be sold as normal unit.

• scrap

• defective

• waste

• spoilage

Which of the following have no recovery value?

• scrap

• defective

• waste

• spoilage

In case of normal waste:

    Choose the correct option

• Cost will be absorbed by good unit

• Cost will be charged to costing P&L

• Cost will be considered as factory overhead

• None of the above

Which of the following arise due to inefficiency in operations, bad luck, mischief etc

• Normal loss

• Abnormal loss

• Material loss

• All the above

Which of the following is usually occurs in small amount and low value that is recoverable without further processing

• scrap

• defective

• waste

• spoilage