Product and Material Losses in Job Order Costing

[@kensheereiramirez8750]

Shrinkage, flaws, and spoiling are the 3 main types of product losses that I learned about from this video lecture. I was also able to find out whether these losses are normal or abnormal, as well as how to treat them. A loss is considered normal if it falls within the production tolerance level that is anticipated; a loss is considered abnormal if it is outside of the established expectation level. Thank you for this, Sir A!

[@jovelynvillaalonzo8718]

In this video course, I learned about the three main types of product losses: inherent or natural shrinkage, defects, and spoiling. I also gained knowledge on the therapies for these losses and if they are common or pathological. The distinction between normal and abnormal loss was another thing I learned. Normal loss is any loss that falls within the production tolerance level, whereas abnormal loss is any loss that exceeds the predetermined expectation level. Thank you, Sir A!

[@micaellaramos5008]

This video lesson taught me that three different kinds of losses could occur in a product: shrinkage, which occurs naturally; defects, which result from production errors but can be fixed; and spoilage, which occurs when there is a problem with the product that cannot be fixed. Additionally, the appropriate journal entries for loss were anticipated and expressly identified under normal loss in addition to the journal entry concerning abnormal loss. Thank you, Sir A!

[@triciamaepalazo2661]

I discovered the three main categories of product losses in this video lecture: inherent or natural shrinkage, flaws, and spoiling. I also learned about these losses' treatments and whether they are typical or pathological. I also learned the difference between normal and abnormal loss, with normal loss being within the production tolerance level while abnormal loss is any loss that exceeds the predetermined expectation level. Sir A, thank you for this video lesson.

[@Angelica-dk8mp]

In this video, I learned about shrinkage, defects, and spoilage, which are three types of production losses that can occur during the manufacturing process. Defects and spoilage are errors that can be caused by either human or machine factors, while shrinkage is a loss that is inherent in the manufacturing process. Depending on their impact on production, these losses can be classified as normal, which falls within an acceptable tolerance level, or abnormal, which is any loss that exceeds this level. Abnormal losses are considered avoidable and can be prevented in the future. Through this video, I gained a better understanding of these three types of losses and how to classify them as normal or abnormal, as well as the importance of addressing abnormal losses in order to improve production efficiency. Thank you so much, Sir A!

[@aikakoshimae3009]

In this video lecture, I learned about the types of losses in production. These are (1) shrinkage which is something natural and couldn't be controlled or reworked, (2) defects, and (3) spoilage which are both errors made by a worker or a machine but the difference between the two is that defects could be reworked and sold (but would incur rework cost) while spoilage couldn't be reworked but may still be sold. I also learned about the way of journalizing losses. Thank you for this informative and concise lecture, Sir!

[@isabelleornieta7062]

Through this video lecture, I learned to differentiate the different kinds of losses in a product, which are shrinkage, defects, and spoilage. In regards to that, if units do not meet quality specifications, the product may be reworked or sold as irregulars. I also learned about the accounting treatment for lost units. In a job order situation, it depends if it is a loss generally incurred for most jobs or if it identifies with a particular one and if that loss is considered normal or abnormal. I appreciate the journal entries of the provided examples, and I will definitely rewatch this video. Thank you for this discussion, sir!

[@cristinemaearcenio3683]

With the help of this video, I now differentiate the three types of of losses that can occur in a product; shrinkage, defects, and spoilage. The defects and spoilage are both production process errors but defects can reworked and sold while spoilage cannot be performed a rework process. I also learned whether theses losses are normal or abnormal. Normal loss arising in rework cost if it is product cost; abnormal loss if it is period cost, capitalized and written off. Thank you, Sir A!

[@eryka_]

This video lecture taught me the three types of production losses: shrinkage, defects and spoilage. In shrinkage, it comes naturally. In defects, it results from production errors but can be fixed. And in spoilage, it happens with products that cannot be fixed. I also learned what cause these losses and it can be normal or abnormal. Thank you, Sir A!

[@emmadelossantos9909]

After watching this video, I learned that in job order costing, product and material losses are accounted for as separate costs and are included in the cost of the job or batch, with the actual loss quantities and costs being recorded on the job cost sheet and factored into the unit cost of the job, which helps to ensure that the cost of the job reflects the true cost of producing the product. Thank you, Sir A!!!

[@angelinepascual4635]

Rewatching the video lecture made me recap my learnings about the accounting treatment for losses in a job order costing system. Thank you po.

[@merantejudilyna.8641]

Through this video lecture, I discovered that shrinkage, flaws, and spoiling are the three main types of product losses. Shrinkage are losses that come with manufacturing, defects are production mistakes that can be fixed, and spoilage are mistakes that can't be fixed. Depending on whether the rework relates to defective production that is regarded as normal or abnormal, the rework cost is either a product cost or a period cost. In addition, I learned the distinction between normal and abnormal loss, defining abnormal loss as any loss that exceeds the predetermined expectation level and normal loss as any loss that falls within the tolerance level that is anticipated throughout production. Thank you, Sir A.

[@abegielkayeacademia721]

In this video lecture, I learned about the types of losses in a product and the material involved in Job Order Costing. These are shrinkage, defects, and spoilage that treat these losses differently. I also learned whether these losses are normal (falls in the tolerance level of loss) or abnormal (falls in excess of the expected loss level). In addition, it was also discussed in the lecture on treatments under a normal and abnormal loss that when calculating the predefined overhead rate, the net of loss should be included if a normal loss is anticipated. In the case of an abnormal loss, the loss should be written off and recognized as a period cost. Thanks, Sir A!

[@jessaherrera762]

I learned from this topic shrinkage, defects, and spoilage. I learned about the topic of losses in production. Thank you, sir!

[@jennethtimario8048]

With this video, I have learned the three types of losses in a product, these are the: shrinkage, defects, and spoiling. I was able to learn whether these losses are normal or abnormal, also the accounting treatment for them. Thank you for this lesson, Sir A.

[@faith_cmprn]

I learned in this video lecture the three losses of product and material in production: shrinkage, defects, and spoilage. Where shrinkage is losses inherent in the manufacturing process such as evaporation, leakage, or oxidation; whereas defects and spoilage are production process errors whether made by human or machine in which defects can still be repaired and sold meanwhile when spoilage are products than cannot be repaired and sold. I also learned that the treatment for these losses depends on whether it is normal or abnormal losses. Thank you, Sir A!

[@nicoledelarosa1249]

Rewatching this video for our deptals. Thank you for making this lecture video sir A!

[@bambycabauatan7799]

I learned from this video lecture, the three basic types of losses-shrinkage, defects, and spoilage. Shrinkage was rather different from the other two types because, it is made up of natural losses, whereas the other two types are somewhat similar to one another but differ in important ways for their functions, such as defects being reworkable and spoilage being unfit for rework. Also, both under normal loss and under the journal entry concerning abnormal loss, the appropriate journal entries for loss are typically expected and carefully identified. Thank you so much for another great video lecture Sir. A!

[@venicejanetajadao7091]

Finished watching this multiple times but forgot to leave a comment. Thank you so much, Sir!

[@erainjoven4438]

Done watching this video last year. Very helpful po, sir. Salamat.

[@gra.cie27]

I learned about the new topic which is the Product and Matereial Losses in Job Order Costing. The Shrinkage is a losses that are inherent or comes naturally that we can not avoid in the manufacturing process such as evaporation, leakage, or oxidation. While the Defects and Spoilage have the similarities with each other which is the production process errors made by human or machine that causes loss of units through rejection at inspection, but their differences are, the defects can be reworked and sold while the spoilage can be sold at a lower price but can not be reworked. Thank you for this informative video lecture, sir A. The presentations and the given examples are such a help.

[@joannaibatuan3907]

I learned from watching this video lecture the three distinct types of product losses. These include inherent or natural shrinkage, defects, and spoilage. I was also able to gain knowledge regarding the treatment for these losses and whether or not they are Normal or Abnormal. There are two Normal loss treatments, depending on whether the normal loss is anticipated for all jobs or is job-specific. If anticipated, the loss is factored into the calculation for the OH rate. Alternatively, if it is job-specific, we simply exclude it from the OH rate calculation and directly credit its WIP inventory if a disposable value is specified. If there is no value that can be discarded, the loss will remain in the WIP inventory. As for abnormal losses, we account for them as period expenses by debiting the Loss account from the Abnormal Spoilage account. Thank you, sir!

[@maryperzlentereso2088]

In this lecture video, I learned about the losses considered in the production process. Shrinkage are losses which are innate to the material or product being processed while defects and spoilage are caused by mistakes in the manufacturing process. The difference is that spoilage cannot be repaired whereas defects may be reworked and the cost for rework may be a product cost if it is a normal loss, or it may be part of the period cost if it is considered as an abnormal loss. Normal loss is the expected tolerance level in the production set by the company and any excess in that range is treated as an abnormal loss. Thank you for another informative lecture video, Sir A!

[@amai.a]

This lecture video provides us information about product and material losses in job order costing, which are normal in the production. I learned about shrinkage (inherent), defects (can be reworked and sold economically), and spoilage (cannot perform rework). I also learned about rework cost, which is an added cost, and could be product or period cost depending if the rework is related to defective production considered as normal or abnormal loss. The accounting treatment for lost units are also discussed with topics, which I appreciate since I was able to understand more on how to get estimate OH rate and its journal entries. Thank you for this lecture video, Sir A!

[@ignaciojohnpaulcruz2447]

In this video lecture, I learned the three main types of losses in a product: shrinkage (inherent or natural), defects, and spoilage. Also, I learned about the treatment for these losses and whether these losses are normal or abnormal. Additionally, I learned if it is normal or abnormal loss, in which normal loss falls within the tolerance level that is expected during production while abnormal loss is any loss in excess of the set expectation level. Thank you, Sir A, for this video lesson.

[@karylleromero5731]

Done watching this video a couple of months ago but re-watching for our incoming finals. Very informative. Thank you so much po, Sir!

[@vhenicemarcelino7990]

There are instances that an employee or the machine can make mistakes in the production process that will result in imperfect products. Some of the terms for defective products are mentioned in this video lecture such as shrinkage, defects, and spoilage. However, some products can be reworked to finally meet the quality specifications, and for that reason, it will incur a cost called rework cost. Rework cost can be a normal loss or an abnormal loss, both have different accounting treatments. And through this lecture, I have learned how normal and abnormal loss differ when it comes to journalizing. Thank you for this comprehensive discussion, Sir A!

[@junairamaeramizares7162]

After watching the video lecture, I learned that there are three distinct types of losses that is unavoidable in producing a product: (1) shrinkage - it happens on its own accord, (2) defects - production error that can be fixed, and (3) spoilage - cannot be fixed. These losses can be classified as normal or abnormal loss. Normal loss if the loss falls within the expected tolerance level during the production and Abnormal loss if it exceeds the expected tolerance level during the production. Thank you Sir A for a well explained lecture!

[@krinkyyy]

Had a rewatching marathon of your lectures since yesterday for finals.

[@lisingmariellar.7595]

Because I had forgotten about this, I decided it would be better to watch it again. After watching the video lecture, I have a greater understanding of the three categories - of product loss. To be more exact, they are natural or inherent shrinkage, defects, and spoilage. I was able to find out whether or not such losses are normal, as well as the accounting treatment that should be followed for them. I have also gained knowledge about the rework cost, as well as the normal and abnormal amounts of loss. Thank you, Sir A!

[@julyannaklarissecamacho133]

Thank you po Sir! Rewatching all the videos po since yesterday for the finals. Helps me a lot po

[@jenzelanncoronado5463]

Thank you so much, Sir! super helpful po ng examples para mas maintindihan namin!

[@ma.jenellestarita7734]

In this video lecture, I learned the product and Material Losses in Job Order Costing that will never vanish and is difficult to avoid when you enter the business, such as shrinkage, defects, and spoilage. Also, if the loss is a normal or abnormal loss and what to do or how to handle those losses. Thank you, Sir A!

[@markanthonymanapol6567]

After watching the video, I learned the product and material losses in job order costing. The shrinkage is losses that are inherent in the manufacturing process. Defects and spoilage are production losses that are caused by errors made by humans or machines, the units failed to meet the quality standards or specifications, however, defects can be economically reworked and sold whilst spoilage cannot perform rework. I also learned about normal loss and abnormal loss and their journal entries. Normal loss is included in the estimation of the overhead rate while abnormal loss is not included. Thank you, Sir A.

[@anneclareesepagsanjan6531]

Rewatched this last night. Very helpful po, Sir!

[@earljimbelara7299]

shrinkage, defects, and spoilage are those type of losses in a product. I've also learned in this video the difference between the normal and abnormal loss. thank you for this lecture sir!

[@templonuevoangelica3383]

Done watching sir! I have learned things this product and material losses in job order costing. Job costing has created a system wherein rework and spoilage costs are allocated to the respective job where the loss is supposed to have occurred. This helps the company find out the types of jobs it is efficient. Normal losses are part of the cost of the job. Abnormal losses are written off as a period cost. Thank you sir.

[@jennicaduenas999]

Done watching for the second time to compare losses and spoilage in job order costing to process costing. Thank you, sir!

[@jclrcmrls]

As I watched the video lecture, I regain my knowledge of this topic. Product and Material Losses in Job order costing has five types and these are normal in manufacturing companies because it is fortuitous events that are unforeseeable. These are classified as shrinkage, defects, spoilage, normal, and abnormal loss. Thus, they can be avoided by monitoring and checking the machines for possible issues from time to time. Thank you again for the knowledge, sir. A!

[@voncrisshaneescalona3368]

I've learned about the three different types of losses that can occur to a product in this video lecture: shrinkage (natural or inherent), defects, and spoilage. Whether it is normal or abnormal to rework defective manufacturing depends in part on the cost of doing so. Additionally, I learned the difference between normal and abnormal loss, with normal loss falling within the tolerance level that is anticipated during production and abnormal loss being any loss that exceeds the predetermined expectation level. Thanks Sir A!

[@luigiepetalio2808]

In this video lecture, I've learned about the three types of losses in a product. They are shrinkage (natural or inherent), flaws, and spoiling. I also learned about the treatment for these losses and whether they are typical or abnormal. Thank you Sir

[@ivygellinejimenez1010]

Shrinkage (natural or inherent), flaws, and spoilage are the three basic types of product losses. I also learned the cause of these losses, whether they are normal or abnormal, and how to treat them. Depending on whether the normal loss is anticipated across all occupations or is exclusive to a position, there are two remedies used under the regular loss category. Thank you po, sir A!

[@adeleinebuenaventura]

In this video, it tackles product and material losses applied in job order costing namely shrinkage, defects, and spoilage. I learned how they should be treated whether they are normal or abnormal losses. With the normal loss, the treatment varies if the normal loss is anticipated for all jobs or for a specific job only. If this is anticipated for all jobs, we include the loss in the computation for the overhead rate. On the contrary, if it is anticipated for a specific job, we exclude the loss from the computation, and if there is a disposable value mentioned we just credit it to the WIP inventory. If there is no disposable value given, the loss will be absorbed by WIP inventory. Also, as for abnormal losses, we treat them as period costs. Thank you, Sir A!

[@dynmariemiras2473]

Watched this before the midterm exam. Thank you Sir!

[@samanthanicolejavellana7942]

After watching this video, I was able to learn more about the different losses in job order costing. Shrinkage, defects, and spoilage were the three types of losses discussed. If the units can be reworked, companies also incur rework costs due to these losses, and depending on the severity of the loss, the company may classify it as either a normal loss or an abnormal loss. Finally, expected losses can be applied to all jobs or just a specific job. Thank you po, Sir A!

[@olayvarjanella]

This video lesson taught me about three forms of manufacturing losses: shrinkage, defects, and spoilage. Defects and spoilage are both problems with production, no matter if they are caused by people or machines. On the other hand, shrinkage is a loss that happens naturally during the manufacturing process. Thank you po!

[@charlesdulce4485]

Finished watching the video lecture. Thank your a clear and concise discussion po sir.

[@genesismeneses3776]

Wow. Nice Lecture. Reviewing my knowledge this academic break!

[@estrellaeulahjoycepadura2964]

The three types of product losses I learned about are inherent shrinkage, repairable defects, and irreparable spoilage. Reworking damaged manufactured goods is either regular or abnormal depending on the cost of the rework. I also learned the difference between normal and abnormal loss, with normal loss being within the production tolerance level while abnormal loss is any loss that exceeds the predetermined expectation level. Furthermore, a unit loss that falls within the expected tolerance range for production is considered to be a normal loss. Regular losses are factored into the cost of the job whereas unexpected losses are written off as time. Thank you for this informative video lecture, sir.

[@iligpaulinejoye.]

As I watched the video, I learned that while exceptional losses are written off as a period cost, regular losses are included in the cost of the job. A loss of units during production that exceeds normal loss levels is referred to as an “abnormal loss.” While exceptional losses are written off as a period cost, regular losses are included in the cost of the job. The following are examples of production losses in a job order cost system: Materials Scrap. Reworking defective goods and spoiled goods. Thank you, Sir A!

[@cedrixdequilla2934]

I learned about shrinkage, flaws, and spoilage from this video lesson. As a result of a manufacturing process where evaporation, leakage, or oxidation may take place, shrinkage is an unavoidable loss. Errors in the production process such as defects and spoilage may result in losses because they fall short of the required quality standards or specified product requirements. Products with flaws can be fixed, but rotting cannot. Depending on whether it refers to a normal or atypical loss, rework expenses can be either a period cost or a product cost. In contrast to abnormal loss, which is considered a period expense, the normal loss is treated as a product cost. Losses that fall within a tolerance range that is anticipated during production are considered normal losses. Losses that are abnormally high or low are losses that exceed expectations. Thank you, sir A.

[@perpusejennyirene5277]

After this video lecture, I have learned about the three types of losses in the production which are shrinkage, defects, and spoilage. There are unavoidable circumstances in production where there will be losses. While defects and spoilage are brought on by human or mechanical mistake, shrinkage is a sort of loss that is inherent or unavoidable because it is a natural occurrence with products. The net loss, which equals estimated spoilage cost less any estimated disposal value, should be included on the predetermined OH rate if the normal loss is anticipated on all jobs. The estimated cost is not taken into account when determining the predetermined OH rate if the losses are not anticipated. If the spoilage is abnormal, the cost is written off as a period cost during the time that it occurs. Thank you, Sir A!

[@angelineguimba8675]

Done watching Sir A! This video lesson taught me that in various production processes, there is always a potential of loss. Errors in production lead to losses, which are why they are termed "losses." Both normal loss which is expected and accepted as a cost of doing business and abnormal loss are capitalized and written off at the end of each accounting period. Thank you Sir.

[@alvarezsteveaustin1859]

After watching the video, I learned that the recorded lecture video is mainly focused on Products and Materials Losses, based on the given definitions and given problems. Along with the problems, I learned what to recognize and what not to recognize in dealing with normal loss and abnormal loss. Normal loss is the level of expected loss during production; anticipated loss. Wherein abnormal loss is the excess of the anticipated loss that we will consider as expense. Also, I learned the three types of losses, which are the shrinkage, defects, and spoilage, their definitions and differences. Thank you po, sir A!

[@rochellerodriguez6039]

I learned that in production there are unavoidable circumstances when there will be a losses in production. Shrinkage are type of losses that are inherent, or unavoidable as it is in the nature on the product while the defects and spoilage are caused by errors either manually by human, or machine errors. If the normal loss is anticipated on all jobs, the net loss should be included on the predetermined OH rate which is equals estimated spoilage cost minus any estimated disposal value. If the losses is not anticipated, the estimated cost is not included in setting the predetermined OH rate. If it is abnormal spoilage, the cost is written off as period cost in the period they are incurred. Thank you for this video lecture, sir A!

[@martincruz5756]

Done watching the video lecture, sir. I learned in this video the different kinds of losses such as shrinkage, defects, and spoilage. while watching we were given the idea in the video that loss of product and materials is inevitable and is always determined by the overhead rates. Thank you Sir A.

[@ricajoyespigol7083]

In a manufacturing company, there will be times that the business may incur losses, and it is normal for everyone as some losses are unavoidable. One example of this is the oxidation of materials, which is classified as shrinkage or losses that are innate in the production process. Moreover, there are also losses that we refer to as defects and spoilage, wherein they are caused either by human or machine error inside the said production setting. However, defects can be reworked and sold, while the rework in spoilage can no longer be performed. I also learned about the rework cost-a product or period cost of reworking the defective production; normal loss-the expected amount of losses; and abnormal loss-any excessive loss. Lastly, I was also able to grasp the journal entries needed when the loss is generally anticipated on all jobs, if it's specifically identified with a particular job, or if there's an abnormal spoilage. Thank you for this, Sir A!

[@ysra_23]

I have learned about the different types of product losses namely; a. shrinkage, b. defects, and c. spoilage. Shrinkage is inherent loss while both defects and spoilage are process errors either by humans or machines. Hence, their difference from each other is that defects can be reworked while the other cannot. I also learned that there are different types of losses which are normal loss which falls in tolerance level and abnormal loss which is excess of the set expectation level. There is also abnormal spoilage that emphasizes the different characteristics of spoilage. Thank you, Sir A!

[@justinepaulpatulay2528]

Thank you for this, Sir A! Rewatching for the exams.

[@lyrrajorramier.grageda1988]

Already finished watching this video lecture Sir. Thank you po!

[@jacobieeee]

Shrinkage (inherent or natural), flaws, and spoilage are the three basic types of product losses. In addition, I learned whether these losses are normal or abnormal, as well as how to treat them. In the normal loss category, two treatments are utilized, depending on whether the usual loss is expected for all jobs or is exclusive to a job. Thank you for the lecture Sir A!

[@jhoebrobertgrabillo7634]

What I have learned from viewing this video are the three main types of losses in a product. Specifically, they are defects, spoilage, and shrinkage (natural or intrinsic). I was able to discover the cause of these losses, whether they are normal or abnormal, and how to address them. Depending on whether the normal loss is anticipated across all occupations or is exclusive to a position, there are two remedies used under the regular loss category. Thanks sir A!

[@beamariebuiza3008]

Finished watching this vid already few weeks ago, rewatched it too for review. Thank you for this, sir!

[@ericamaye2947]

Thank you sir A for this video lecture, I was able to learn the production process and the material losses, and the losses were always natural. thank you, sir A.

[@claricemontallana806]

Rewatching this as a review for my upcoming finals examination. Thank you po for this video, Sir!

[@annedaniseroberto1840]

Finished watching this vidlec probably 2 months ago. I got my notes with me attached on my screenshots of attendances. Thanks for this vidlec about losses, Sir A!

[@pattreshiabongares9667]

Already done watching this months ago. Thank you po sir for this informative and concise video lecture!

[@grezeljoydeniseaglibot4877]

Finished watching this video po last November and before taking our midterms po. Thank you po sir for this video lecture!💚

[@vivanazareno9033]

Rewatching this lecture for upcoming Long quiz on friday! Thank you Sir!

[@cjaldrincastillo4516]

The three product and material losses in Job order costing are shrinkage (inevitable in certain products), defects (can still be sold or reworked), and spoilage (cannot be reworked). Normal losses are losses that are expected losses during production, while abnormal losses are the excess from the expected loss during production. The records of these losses are different from one another. To record the loss generally anticipated on all jobs, the loss will be close to manufacturing overhead. In specifically identified loss in a particular job, the WIP Inventory will be closed to disposal value at its amount. While the record to abnormal loss, it will be written off as a period cost. Only the excess from the expected normal loss is recorded as loss from abnormal spoilage. Thank you, Sir A, for the brief and informative video!

[@grezeljoydeniseaglibot4877]

Already watched this video po last month and currently rewatching it tonight sir. Thank you po for this lecture!

[@arboledaandriajean]

As I watched this lecture video, I realized that losses are inevitable in production, and these losses in production are categorized as Shrinkage, Defects, and Shortage. Shrinkage is inherent in manufacturing process, while both Defects and shortage are production process errors. Also, I learned the difference in recording journal entries depending on the losses (Normal or Abnormal loss). Thank for this discussion, sir A!

[@lotogaileangelicah.4650]

In Job Order Costing, there are three primary types of product and material losses: shrinkage, defects, and spoilage. Shrinkage refers to the unavoidable loss that occurs during production. Defective products can be reworked and sold, whereas spoiled items can be reworked but cannot be managed to sell. In addition, I learned whether these losses are normal or abnormal and how to handle them. Abnormal Loss is any loss that surpasses the predefined level established for production, whereas Normal Loss remains within the tolerance level. In Normal Loss, product costs are inventoriable, whereas, in Abnormal Loss, they are an outright expense. Sir A, we really appreciate the lecture video. Thank you!

[@monicavenicego6922]

After re-watching the video, it has reviewed the knowledge I had when I first watched it; it is somehow clearer as I can easily understand what is being said since I had already learned about the kinds of material losses that occur in a production such as shrinkage, defect, and spoilage; and how this can be handled, if it can be reworked and be sold or not.

[@reginepatena1012]

after watching this video lecture I understand these three different forms of losses in a product shrinking, flaws, and spoilage helped me better understand how product and material losses are considered into work order costing.

[@ariellaespina2757]

Thank you for this informative video lecture, Sir!

[@jazellhulleza4023]

Finished watching this one long after you posted this on our channel sir. Thank you so much!

[@rachelgaspar3925]

Through this video, I've learned all about the three types of product losses; shrinkage, defects and spoilage. Normal loss is considered as product cost while abnormal loss is considered as period cost or outright expense. Normal loss could be generally anticipated or specifically identified, if its generally anticipated we should include the cost of defective spoiled works minus any estimated disposal value in computing for the predetermined OH rate. If its specifically identified, the estimated cost of defective spoiled works should not be included in computing the predetermined OH rate. Disposal value of defective works is treated as an inventory. Thank you sir A!

[@eunieviaamantoy9730]

In this lecture, I learned about the types of losses in production: shrinkage, defects, and spoilage. thankyou sir A 💜

[@reizzyalainavios9750]

I learned about the three types of product losses. These are shrinkage (inherent), defects (production error that can be reworked), and spoilage (production error that can’t be reworked). The cost of rework influences whether it is normal or abnormal to rework defective manufacturing. Additionally, I discovered the difference between normal and abnormal loss, with normal loss being within the tolerance level that is anticipated throughout production and abnormal loss being any loss that exceeds the set expectation level. Thank you, Sir A.

[@juliannamaefernandez9903]

I agree to Sir A that in a production, it is inevitable to have defects or leakage which are called losses. There are different losses like shrinkage, defects and spoilage. I have also learned about the rework cost and of course, the normal and abnormal loss. Thank you again Sir A for a very informative video lecture.

[@karentolentino9046]

As I have noted in this video lecture, there are three types of product losses which are shrinkage (inherent), defects (production error that can be reworked), and spoilage (production error that can’t be reworked). Reworking defective manufacturing is either regular or abnormal depending on the cost of the rework. In addition, I learned the distinction between normal and abnormal loss, defining abnormal loss as any loss that exceeds the predetermined expectation level and normal loss as any loss that falls within the tolerance level that is anticipated throughout production. Thank you, Sir A!

[@katherinevaliente5350]

Watched it already. Thank you po for the video lecture Sir A!

[@veronicaescarmosa8821]

Thank you, Sir, for discussing with us the product and material losses in job order costing, including the shrinkage, defects, and spoilage. I learned that in job order costing, the treatment for lost units depends on two issues: is a loss generally incurred for most jobs? Is it specifically identified with a particular job? Or if the loss can be classified as normal or abnormal. Through this video lecture, I've learned how to estimate predetermined overhead rates if the job order situations are loss generally anticipated of all jobs, specifically identified with a particular job and abnormal spoilage. With that knowledge, I've also learned the correct journal entries for these losses. Thank you po for the well-explained video.

[@grejenplata3248]

Thank you for this video lecture, Sir A! In this video lecture, I have learned about the three types of losses in the production which are shrinkage, defects, and spoilage. Shrinkage are losses that are inherent in the manufacturing process such as evaporation, leakage, or oxidation. Defects and spoilage are production process errors, either by human or machine, that causes loss of ynits through rejection at inspection for failure to meet appropriate quality standards or designated product specifications but the defects production process errors are units that can be economically reworked and sold while spoilage production process errors, rework cannot be performed.

[@jessireewines2553]

Done watching po! Rewatching it as a review for the upcoming exam. Thank you for the comprehensive discussion, Sir!

[@elivermatthewgabrielo.8632]

Done watching this months ago. Thanks again sir!

[@venturarosemariemae1901]

Upon watching the video lecture., I have acquired a knowledge of the three forms of product losses: Shrinkage - inherent, Defect and Spoilage - production process error. The difference between Defects and Spoilage are in Defects, the units can be reworked while in Spoilage, the rework cannot be performed. The Rework cost can either be a product cost - inventoriable and normal loss or period cost - expense outright and abnormal loss. Thank you, Sir A, for this informative video.

[@juliemaycacalda2362]

great video lecture, thank you Sir A

[@gaspemarielles.1010]

In this video, I've learned about unavoidable instances that we currently consider to be production losses, such as inherent shrinkage, defects, and spoilage that do not satisfy the quality standard and specifications required. In relation to this, I've also learned about normal loss, which emphasizes that the predetermined OH rate should include the net loss of rework, however, if it is expressly specified in a given job, it should not be included in POHR and will not utilize the Manufacturing OH Control account. Another lesson learned is that abnormal losses should be written off as period costs because they are not required to generate good units. Each of these losses had detailed journal entries. Thank you po for this lecture!

[@sanjuanfrancesb.2178]

Done watching this last time before finals. Thank you Sir!

[@janetadjas3427]

Finished watching to this well explained vidlec, Thank you po Sir A!🌹

[@sharmaineallanabigaw7599]

finished watching this lecture, thank you sir!

[@glyzademanuel7131]

Thank you for the illustrations and explanations, Sir. Done watching the video.

[@acunaterencelordy3189]

Good Day, Sir A! I learned in this video lecture the 3 main types of losses specifically the shrinkage, defects and spoilage. As shrinkage is somewhat different from the other two types because according to the video is that shrinkage is composed of losses in nature, while the two other types are somewhat similar to each other but their differences plays an important role for their functions as defects can be rework and spoilage can't perform rework. And also, the proper journal entries for loss are generally anticipated and specifically identified under normal loss as well as the journal entry about abnormal loss. Thank you po!

[@pinedareneekyrstel7259]

I learned that there are product and material losses on job order costing, including shrinkage or losses that are inherent in the manufacturing process, and production process errors that can either defects or spoilage. Defects can be reworked and sold, while spoilage cannot be reworked. Also, a loss can be generally anticipated on all jobs wherein the loss should be included in the predetermined OH rate or a specifically identified particular job where the losses should not be included in the predetermined OH rate. Lastly, abnormal spoilage should be written off as a period cost. And the management of the company is the one who must determine if a loss is considered a normal or abnormal loss. Thank you, Sir A!

[@joreenramos1871]

In this video lecture, I have learned that there are unavoidable instances in production such as shrinkage, defects, and spoilage that represent the product and material losses in job order costing. However, these instances can be reworked to meet the specifications of the goods in a normal or abnormal losses. Normal loss is within the expected tolerance level during production while Abnormal loss is any excess from it. I have also learned how to compute the losses and how to record it in the journal. Thank you po, Sir A!

[@ma.cassandranicolecenido2946]

With the help of this video, I now understand the three sorts of losses that can occur to a product: shrinkage, flaws, and spoilage. To fulfill the requirements of the items in a normal or abnormal loss, these situations can be modified. However, damaged goods cannot be repaired.

[@annamariasengco4321]

In this video lecture, I learned about shrinkage, defects, and spoilage that are a product and material losses. Additionally, some products that are deformed can still be sold at a lower price or as irregulars. Thank you, sir.

[@markleomacdon1031]

In this video lecture, I learned about product and material losses in job order costing, which are shrinkage, defects, and spoilage. Shrinkage losses are caused by the nature of the product, whereas defects and spoilage are caused by human or machine errors in the manufacturing process. However, defects can be fixed while spoilage cannot. In addition, we need to rework the product if the quality does not meet our standards, and the added cost of that rework is called the rework cost. Rework depends on whether it is normal losses(product cost) or abnormal losses(period cost). Normal loss is divided into two, which is based on loss on all jobs and loss on a particular job. Moreover, the cost of abnormal losses (spoilage) should be written off as a period cost. Lastly, I also learned how to journal an entry regarding if it is a normal loss or an abnormal loss. Thank you, Sir!