Material costs, Cost Accounting

Material Costs

Material refers to each physical input into the production procedure. They involve the giving as:

  • Raw material refers to bought in material that is used in the manufacture of the product. As per to the organization raw material may next be classified like steel, timber.
  • Subassemblies and Components that is bought in components and subassemblies that are incorporated in the product
  • Work in progress that is partly finished assemblies and products incorporating raw materials and or subassemblies
  • Consumable materials that is materials utilized in the operation of the factory and during production but do not appear in the product as like an example of detergents
  • Maintenance materials that is materials of all types utilized in keeping machinery, vehicles and buildings as like an example of spare parts, lubricating oil and grease
  • Office materials; materials utilized in operation of the office as like an example stationery
Posted Date: 2/5/2013 2:52:12 AM | Location : United States

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