Costing
This query is : Resolved
25 July 2013
True or False with reason -:
Loss of material due to fire is treated as overheads and included for calculating cost of production.
Loss of material due to fire is treated as overheads and included for calculating cost of production.
25 July 2013
False.
It is an abnormal loss and therefore should not form part of Cost of Production.
It is an abnormal loss and therefore should not form part of Cost of Production.
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