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 input
Output: 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