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IN PROCESS ACCOUNTING, HOW ABNORMAL LOSS & ABNORMAL LOSS
IS TREATED?
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Answer Posted / lokesh
for normal loss ,The Value of the goods is same but quantity
will be less from total quantity)
And Abnormal loss The Value of the goods will be less from
total value of assests, andt quantity will be less from
total quantity.
Ex. 50 Fans @ RS. 100 Each, Total RS. 50*100=5000
Normal loss 2 Fans, than Total Cost of the Fans 48 Fans @rs.
5000, and one fan cost is 5000/48=104.16
In the Case of Abnormal Loss
Total Abnormal Loss 3 Fans
Than We have only 47 fans @rs. 100 Each Total Cost is 4700
| Is This Answer Correct ? | 17 Yes | 5 No |
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