Normal Loss, Abnormal Loss and Abnormal Gain.
Q89. What is normal loss, abnormal loss and abnormal gain in process costing? Ans. Normal Loss: Loss of some quantity
Read moreQ89. What is normal loss, abnormal loss and abnormal gain in process costing? Ans. Normal Loss: Loss of some quantity
Read moreQ88. Write short notes on process costing. Ans. Process Costing Method is used where input goes into two or more
Read moreQ87. What is the treatment of By-Product? Ans. Treatment of By-Product is: When they are off small value: It may
Read moreQ86. What are various methods for valuation of By-Product? Ans. Methods for valuation of By-Product: Market value or realization value
Read moreQ85. What are the various methods for appointment of joint expenses between joint products? Ans. Physical Unit Method: In this
Read moreQ84. Differentiate between Joint Product and By-Product. Ans. Joint Product of equal importance where as By-Product are of small economic
Read moreQ83. What do you mean by Joint Product, Co- Product and By-Product? Ans. Joint Product: Joint Product represents two or
Read moreQ82. Write short notes on cost plus contract. Ans. Under cost plus contract, the contract price is ascertained by adding
Read moreQ81. Write short notes on Escalation Clause. Ans. If during the period of execution of contract, the price of material
Read moreQ80. Write short notes on Contract Costing? Ans. Contract costing method is adopted generally by building or construction contractors. Contract
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