2.A: TRUE/FALSE Over issuance of material to production department is one of the reasons of stock discrepancy.Invoice is an authorized document sent to the supplier to order specific materials which contain all necessary details such as quantity, unit price, delivery date and method of shipment.From a procurement point of view, material control system is a system that ensures the right quantity of material is provided efficiently when it is required to be used in the production process.Among the material cost incurred in manufacturing leather shoes are leather cost, glue cost and wages paid to shoemaker.

Solution: 1. False, Over issuance of material to production department is not a the reason of stock…

Answered: 2.A: TRUE/FALSE Over issuance of…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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2.A: TRUE/FALSE

Over issuance of material to production department is one of the reasons of stock discrepancy.
Invoice is an authorized document sent to the supplier to order specific materials which contain all necessary details such as quantity, unit price, delivery date and method of shipment.
From a procurement point of view, material control system is a system that ensures the right quantity of material is provided efficiently when it is required to be used in the production process.
Among the material cost incurred in manufacturing leather shoes are leather cost, glue cost and wages paid to shoemaker.

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