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

Related Discussions:- Material costs, Assignment Help, Ask Question on Material costs, Get Answer, Expert's Help, Material costs Discussions

Write discussion on Material costs
Your posts are moderated
Related Questions
The Gladys Corporation buys office equipment costing $426,000 on May 12, 2013. In 2015, new and improved models of the equipment make it obsolete, and Gladys sells the old equipme

2. Blue-Jay Sporting Goods is a start-up company that expects to earn $3.00 per share next year. Since the firm currently retains 100 percent of earnings to finance future grow

As a potential investor, what is the problem with different countries having different accounting standards? As the president of a multinational company, what is the problem with

A company adds overhead costs to jobs at the rate of $8 per direct labor hour. It accumulates overhead costs in a seperate manufacturing overhead account and uses normal costing to

Mr. Marley is a wholesaler who buys and sells a wide range of products, one of which is the Laker. Mr. Marley sells 24,000 units of the Laker each year at a unit price $20. Sales o

All  transfer-pricing  methods  give  the  similar division  operating  income.  Do  you  agree? Describe.

Marvin's Motors Company (MMC) manufactures outboard motors for use on small to medium sized boats. MMC produces three models: the Standard, the Deluxe and the Performance. The comp

Development and Research Cost Budget These are costs that are discretional in nature such as they are determined on need basis via the managers concerned. Research cost is the