Economics · Process Costing
Information relating to two processes (F and G) is as follows: Process F: Normal loss = 8% of input; Input = 65,000 litres; Output = 58,900 litres. Process G: Normal loss = 5% of input; Input = 37,500 litres; Output = 35,700 litres. For each process, determine whether there was an abnormal loss or an abnormal gain.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Process F: Abnormal loss; Process G: Abnormal loss
- 2Process F: Abnormal gain; Process G: No abnormal loss/gain
- 3Process F: Abnormal gain; Process G: Abnormal loss
- 4Process F: Abnormal loss; Process G: Abnormal gain✓
Correct answer
Process F: Abnormal loss; Process G: Abnormal gain
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