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What is the difference between Issue & Sell / sale?

Answers were Sorted based on User's Feedback



What is the difference between Issue & Sell / sale?..

Answer / kavita

When party not make the bill of material than it called
issue of material ,in issue of the material there is no
price of material.

And when party make bill of material than it called sell.

Is This Answer Correct ?    4 Yes 1 No

What is the difference between Issue & Sell / sale?..

Answer / syed muntazir afaque

Issues that mean party are issue material to debtor with
material quantity only.
And party has received that material and creditor are ready
to make invoice for sale. Which will be in credit or cash?
than it called sell

Is This Answer Correct ?    2 Yes 0 No

What is the difference between Issue & Sell / sale?..

Answer / ravi ranjan vishwakarma

when party not make the bill of material that it called
issue of material,in issue of the of the material there is
no price of material.

and wnen party make bill of material than it called sell.

Is This Answer Correct ?    1 Yes 0 No

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1. During the current period, ABC Ltd sold 60,000 units of product at Rs. 30 per unit. At the beginning for the period, there were 10,000 units in inventory and ABC Ltd manufactured 50,000 units during the period. The manufacturing costs and selling and administrative expenses were as follows: Total cost Number of units Unit cost Rs. Rs. Beginning inventory: Direct materials 67,000 10,000 6.70 Direct labour 1,55,000 10,000 15.50 Variable factory overhead 18,000 10,000 1.80 Fixed factory overhead 20,000 10,000 2.00 Total 2,60,000 26.00 Current period costs: Direct materials 3,50,000 50,000 7.00 Direct labour 8,10,000 50,000 16.20 Variable factory overhead 90,000 50,000 1.80 Fixed factory overhead 1,00,000 50,000 2.00 Total 13,50,000 27.00 Selling and administrative expenses: Variable 65,000 Fixed 45,000 Total 1,10,000 Instructions: 1. Prepare an income statement based on the variable costing concept. 2. Prepare an income statement based on the absorption costing concept. 3. Give the reason for the difference in the amount of income from operations in 1 and 2.

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