State whether the statement is True or False:
‘Wage abstract is not prepared in case of batch costing.’
‘Wage abstract is not prepared in case of batch costing.’
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Solution and Explanation
It helps allocate direct labour cost correctly to each cost unit or cost center.
In batch costing, it is very important to prepare a wage abstract to know the total direct labour cost incurred for each batch.
Without this, accurate costing of each batch is not possible.
Therefore, the statement is False — a wage abstract is indeed prepared in batch costing.
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