A micro brewery has provided the following information for last month.The inputs into Process 1 last month were:MaterialsLabour and OverheadThe normal lossLosses are sold for € 0.50 per kg.Actual output1,650 kgWhich accounting entry is correct? (round calculations to two decimal places)Select one:O a.2,000 kgs @ €1.60 per kg€ 80010%.Dr Abnormal Loss Account € 250.00Cr Profit and Loss Account€250.00O b. Dr Profit and Loss Account € 250.00Cr Abnormal Loss Account€250.00Dr Abnormal Loss Account €325.00Cr Profit and Loss Account€ 325.00d.Dr Profit and Loss Account € 325.00Cr Abnormal Loss Account€325.00

Abnormal loss is the actual loss in excess of the normal loss during a process. It is quite normal…

A micro brewery has provided the following information for last month. The inputs into Process 1 last month were: Materials Labour and Overhead The normal loss Losses are sold for € 0.50 per kg. Actual output 1,650 kg Which accounting entry is correct? (round calculations to two decimal places) 2,000 kgs @ €1.60 per kg € 800 10%.

A micro brewery has provided the following information for last month. The inputs into Process 1 last month were: Materials Labour and Overhead The normal loss Losses are sold for € 0.50 per kg. Actual output 1,650 kg Which accounting entry is correct? (round calculations to two decimal places) 2,000 kgs @ €1.60 per kg € 800 10%.

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 22E: Ellerson Company provided the following information for the last calendar year: During the year,...

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