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Company uses process costing to value output. During the last month the last month the following information was recorded.
Question: What was the value of the inputOutput: 2800kg valued at $7.50
Normal Loss 300kg which has a scrap value of $3/kg
Actual loss 200kg(value of input-scrap value)/expected output=7.5
let value of input=x, scrap value =300*3=900
expected output=2800+200-300=2700
(x-900)/2700=7.5
x-900=7.5*2700=20250
x=20250+900=21150 ans
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