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Determine the cost according to normality
According to normality: under this category cost may be categorized as follows:
Normal cost: it is the cost which is normally incurred at a given level of the output in the condition in which that level of the output is attained. It is charged to costing profit and loss account.
Abnormal cost: it is the cost which is not normally incurred at a given level of the output in the condition in which that level of the output is attained. It is charged to costing profit and loss account.
Interest coverage ratio (or debt service ratio) Meaning: this ratio establishes a relationship among net profits before interest and taxes and interest on long debt. Obj
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Exercise 12-7 sell or process further
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