Process costing
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JoJo76
Registered Posts: 1
Can anyone assist with understanding of process costing especially where there are abnormal gains and normal losses with scrap value . I'm struggling to understand the transfer of abnormal gains to the normal losses account?
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Normal losses are what we expect to lose. The abnormal gain means that losses are less than we expected, less than the normal losses. That is why we need to Credit Scrap account to reduce the normal loss.0
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