The residual material which results from manufacturing products is called ___________?
Correct answer: D. scrap
- A. reduced work
- B. spoilage
- C. rework
- D. scrap
Explanation
Scrap is residual material left from manufacturing that generally has little value but may be sold or reused. Spoilage refers to defective units, while rework refers to units that can be corrected.
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About Cost Accounting
Cost accounting measures and analyses the cost of producing goods or providing services for planning, control and pricing decisions. It covers direct and indirect costs, fixed and variable costs, job and process costing, break-even analysis, marginal costing, overhead allocation, and the difference between product cost and period cost.
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More Cost Accounting questions
An amount of spoilage that is natural in any particular production process is classified as ___________?
If the units of normal spoilage are 150 and the total good units manufactured are 1500, then the normal spoilage rate would be __________?
If the beginning work in process inventory units are 2600, units started are 9000, ending work in process units are 2300 and the completed good units are 8000 then total spoilage will be ____________?
The normal spoilage is subtracted from total spoilage to calculate _____________?
The sum of beginning work in process inventory units and started units, is subtracted from the sum of ending work in process inventory units and transferred out units of goods, to calculate ____________?
The units of normal spoilage are divided to total completed units, rather than total actual produced units to calculate ____________?