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LECTURE 4 - MATERIAL, LABOUR AND EXPENSE COSTING (WIP (This stage is…
LECTURE 4 - MATERIAL, LABOUR AND EXPENSE COSTING
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WIP
This stage is between raw materials and finished, for sale products
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WASTAGE
- Output wastage:
_ Rejected output / Total output
- Input wastage:
_ Material wasted / Material used
- Rework:
_ Rework cost / Total production cost
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