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plz, solve these questions I have 4 minutes only to submit it The loss occurred due to an accident in the factory is known as
plz, solve these questions I have 4 minutes only to submit it
The loss occurred due to an accident in the factory is known as a. Process loss b. Abnormal gain c. Normal loss d. Abnormal loss Which of the following items are to be debited in a process account? Choose the correct combination. a. Normal loss, abnormal loss and abnormal gain b. Normal loss, abnormal loss and output transferred out O c. Material, Normal loss, labour and abnormal loss d. Material, labour and abnormal gain For a company, the applied overhead for a period was OMR 1,800 and the Actual overhead incurred was OMR 1,650. What is the journal entry to adjust under/applied overhead? a. Factory overhead Dr OMR 150 and Cost of goods sold Dr OMR 150 b. Factory overhead Dr OMR 1,650 and Cost of goods sold Dr OMR 1,650 C. Cost of goods sold Dr OMR 1,650 and Factory overhead Cr OMR 1,650 O d. Cost of goods sold Dr OMR 150 and Factory overhead Cr OMR 150 The input given to a process is 1,500 units at a cost of OMR 16,000. Normal loss expected is 5% of input. Material cost is OMR 6,000. Other direct expenses are OMR 5,000. The output of the process is 1,425 units. The lost units have a scrap value of OMR 1 per unit. Determine the cost finished output? a. OMR 27,075 b. OMR 27,000 O c. OMR 26,925 d. OMR 28,500Step by Step Solution
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