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Where the Cost of labour, Material used and sales scrap (if
sales given)get effect in balance sheet

Question Posted / savithri


Where the Cost of labour, Material used and sales scrap (if sales given)get effect in balance shee..

Answer / Ravi Ratnakar Choudhary

Cost of labor, materials, and sales scrap are all expenses that impact a company's balance sheet. Labor costs are recorded under 'Wages Expense', material costs are recorded under 'Materials Expense', and sales scrap is recorded as 'Cost of Goods Sold'. These amounts reduce the company's gross profit, which is calculated by subtracting total expenses from total sales.

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