unit-15-manufacturing-account

Unit-15 Manufacturing Account

This unit discusses how to ascertain the cost of goods produced and how to prepare the Manufacturing and Trading Accounts.

What is Scrap?




< Back To All Answers

Answer

{{currentAnswer.user.userName}}

Written on {{ansDate()}}

{{trustHtmlContent(currentAnswer.answerContent)}}

Learning Pundits Content Team

Written on Jun 26, 2019 11:59:59 AM

Scrap is waste material coming out of the manufacturing processes. For example, cuttings of cloth in ready-made garment factory, metal cuttings in engineering factories, etc. Any amount realized from its sale should be treated as income and adjusted in the cost of goods produced.



Weekly Contests Leaderboard


Rank - {{getRank($index,weeklyWinner)}}: {{weeklyWinner.userName}}

Loading...

« Previous Next »

Subscribe to our RSS Feed