Question
Asked Dec 17, 2019
1 views

“Normal spoilage is planned spoilage.”Discuss.

check_circle

Expert Answer

Step 1
help_outline

Image Transcriptionclose

Spoilage: Spoilage is the defective item at intermediate or final stage. The spoilage goods cannot be modify and hence as it is sold in the market at less prices. Basically it is loss to the company even if it sells in the market the cost price will not recovered from that.

fullscreen

Want to see the full answer?

See Solution

Check out a sample Q&A here.

Want to see this answer and more?

Solutions are written by subject experts who are available 24/7. Questions are typically answered within 1 hour.*

See Solution
*Response times may vary by subject and question.
Tagged in

Business

Accounting

Cost Accounting

Related Accounting Q&A

Find answers to questions asked by student like you
Show more Q&A
add
question_answer

Q: MGM Resorts International owns and operates hotels and casinos including the MGM Grand and the Bella...

A: Allowance method: It is a method for accounting bad debt expense, where amount of uncollectible acco...

question_answer

Q: An accounting clerk for Chesner Co. prepared the following bank reconciliation: Chesner Co. Bank Rec...

A: a.

question_answer

Q: The beginning inventory at Midnight Supplies and data on purchases and sales for a three-month perio...

A: “Hey, since there are multiple questions posted, we will answer first three question. If you want an...

question_answer

Q: What are the steps used when analyzing a business transaction?

A: Click to see the answer

question_answer

Q: Journalizing adjusting entries Consider the following situations: The business receives $3,200 on J...

A: Adjusting entries: Adjusting entries are those entries which are recorded at the end of the year, to...

question_answer

Q: How does retained earnings increase? What are the two ways that retained earnings decrease?

A: Retained earnings get increased if company generates net income.Retained earnings get decrease if th...

question_answer

Q: “ Managers must decide whether a product should be sold at splitoff or processed furthur.The sales v...

A: No, any method that is used to assign costs to individual products that is applied to the problem of...

question_answer

Q: What is the relevant range? What role does the relevant range concept play in explaining how costs b...

A: Relevant range refers to the level of the activity which represents the maximum and minimum limits o...

question_answer

Q: Generally Accepted Accounting Principles (GAAP) are currently formulated by the< Financial Accou...

A: Find the board that is responsible for creation and governance of GAAP.