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Help please – Process costing

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA MA – FIA FMA › Help please – Process costing

  • This topic has 3 replies, 2 voices, and was last updated 6 years ago by John Moffat.
Viewing 4 posts - 1 through 4 (of 4 total)
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    Posts
  • November 13, 2016 at 6:33 am #348671
    fatimaltaf1
    Member
    • Topics: 5
    • Replies: 4
    • ☆

    Where is abnormal loss posted at the end of the period?

    A- DR process account
    B- DR statement of profit and loss
    C- CR process account
    D- CR statement of profit and loss

    I am confused!
    In the process account the abnormal loss is on the credit side and in the statement of profit and loss abnormal loss is on the debit side!

    Which one are they asking for?
    Please clear my doubt!

    November 13, 2016 at 9:46 am #348692
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 51555
    • ☆☆☆☆☆

    We credit the process account and debit the loss account with the abnormal loss.

    (It is the balance on the loss account, after bringing in any scrap proceeds that goes to the SOPL later).

    I do suggest you watch my free lectures on process costing. The lectures are a complete free course for Paper F2 and cover everything needed to be able to pass the exam well.

    November 13, 2016 at 9:55 am #348696
    fatimaltaf1
    Member
    • Topics: 5
    • Replies: 4
    • ☆

    So the answer is c?

    November 13, 2016 at 10:36 am #348702
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 51555
    • ☆☆☆☆☆

    That is what I have written!!

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