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Q. If it is assumed that all losses in process occur at the end of the process, units of abnormal loss are costed in exactly the same way in the as units of finished output.

Q. . Cost apportionment involves:

Q. If the normal loss has no scrap value it is given a nil value.

Q. Retention money serves as a ………with the contractee.

Q. Wages paid to a labour who was engaged in production activities can be termed as.

Q. The cost per unit manufactured in a batch is the total batch cost divided by the number of units in the batch.

Q. Allocation is where overheads are allocated to cost centres. If a cost centre is responsible for the entire cost of an item of expenditure, the entire cost is charged directly to the cost centre.

Q. Indirect expenses are also known as overheads.

Q. Normal loss is usually expressed as a percentage of the input units of materials.

Q. In a costing system, a job account is similar to a work in progress account, except that it is for one job only. In a company that specialises in jobbing work, the work in progress account is the total of all the individual job accounts.