A product passes through Process-I. Input raw material issued were 8,000 units. Normal loss anticipated was 10% of input with realisable value of 5…
CA Intermediate · Cost and Management Accounting · MTP · May 2024
A product passes through Process-I. Input raw material issued were 8,000 units. Normal loss anticipated was 10% of input with realisable value of 5 per unit. 7,600 units of output were produced and transferred to next process. If the total cost incurred under Process-I was - 40,000, then amount of abnormal gain/(loss) is:
Suggested Answer and Working Notes:
Correct Answer: Option (A)
₹ 2,000
Topics: Process & Operation Costing
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