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Q. In some cases, a company might have to pay to dispose of losses in a process. The cost of disposal represents an additional cost to the process. To reflect this in the process account the normal loss is measured at zero but the expected costs of disposal are debited to the process account.

Q. If normal loss has a scrap value the company is able to recover some of the input costs to the process. The scrap value reduces the cost of the process.

Q. The usual method of fixing prices in a jobbing concern is cost plus pricing.

Q. An equivalent unit means ‘equal to one finished unit of output’.

Q. If beginning work in process equivalent units are 2500 units, work done in current period equivalent units are 3800 units and ending work in process equivalent units are 5000, then complete equivalent units in current period are

Q. If the normal loss has no scrap value it is given a nil value.

Q. Which of the following statement is correct?

Q. All such expenses which are incurred for creating and enhancing the demands for the products are

Q. Identify the types of specific order costing.

Q. Batch costing is similar to job costing in that each batch of similar articles is separately identifiable.