(a) What are the essential features of a good Cost Accounting System? (b) Steel Heart Pvt....
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(a) What are the essential features of a good Cost Accounting System? (b) Steel Heart Pvt. Ltd. is manufacturing TMT bars from MS Ingots and MS Billets. After production of TMT bars, sorting is carried out to find any defects or units do not match with standard specification. The products which do not match with the standard product specification are treated as scrap. You are required to state the treatment of the products which do not match with the product specifications in Cost Accounts. (c) What are the essential pre-requisites of integrated accounting system? (a) What are the essential features of a good Cost Accounting System? (b) Steel Heart Pvt. Ltd. is manufacturing TMT bars from MS Ingots and MS Billets. After production of TMT bars, sorting is carried out to find any defects or units do not match with standard specification. The products which do not match with the standard product specification are treated as scrap. You are required to state the treatment of the products which do not match with the product specifications in Cost Accounts. (c) What are the essential pre-requisites of integrated accounting system?
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Answer rating: 100% (QA)
A B Scrap is described as waste from some forms of manufacturing that is recoverable without further processing and is usually of small quantity and low value Scrap can be accounted for in a variety o... View the full answer
Related Book For
Fundamental Accounting Principles
ISBN: 978-0077862275
22nd edition
Authors: John Wild, Ken Shaw, Barbara Chiappetta
Posted Date:
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