Forms of Material Losses: 3 Forms | Cost Accounting
Following are the forms of material losses: 1. Waste or Wastage 2. Scrap 3. Spoilage. Form # 1. Waste or Wastage: Waste is that portion of a basic raw material lost in processing, having no recovery value. So waste is a type of material loss which arises in the course of production and has no value. It may be visible [...]