Question
Rejected castings in a foundry are treated as spoilage. During the current period, 80 castings (costing...
Rejected castings in a foundry are treated as spoilage. During the current period, 80 castings (costing $200 each to produce) were spoiled and sold at a net realizable value of $25 each.
Calculate the cost of spoilage, assuming it is abnormal.
Cost for abnormal spoilage | $ |
Prepare the journal entry for normal spoilage.
Account Titles and Explanation | Debit | Credit |
Answers
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