Where the scrap possesses a saleable value as a waste product or as a raw material for another product, the value there is :

CS Executive · Cost and Management Accounting · PYQS · December 2019
Where the scrap possesses a saleable value as a waste product or as a raw material for another product, the value there is :
(A) Credited to the Process A/c
(B) Debited to the Process A/c
(C) Credited to Costing P&L A/c
(D) Credited to Cash or Bank A/c

Answer & Explanation:

Correct Answer: Option (A)

Official answer key: (A).

Topics: Process Costing

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