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
Using the  information provided prepare  the four financial  statements  for inclusion in Plantagenet Ltd's Annual Report dated at its balance date of 30th June 2011. The statement

L ABOUR VARIANCES Labour Cost Variance (LCV) Described by the ICMA, London, 'Labour cost variance is the variation between the standard direct wages specified for the pro

Principles of Marginal Costing The principles of marginal costing are as given: 1. Period fixed costs are similar, for any volume of sales and production provided suc

What depreciation method does Amazon use for property and equipment? What is the range of useful lives for buildings and for fixtures and equipment? Do these useful lives make sens

Allocation of Service Department Costs Allocation of Service Department Costs to Production departments ,Service departments are those departments that provide support to prod

a company wants to buy a new machine to replace on which is having frequent breakdown.............. .......... c-the models suitable for different levels for demand of product?

On January 1, 2012, a machine was purchased for $197,100. The machine has an estimated salvage value of $13,140 and an estimated useful life of 5 years. The machine can operate for

sabonis consmetics co. purchased machinery on december 31,2011, paying $50,000 down and agreeing to pay the balance in four equal installments of $40,000 payable each dec 31. an as

BEP- Break Event Point: It shows no Loss and no Profit The level of activity at which, total revenues equivalent total costs. A point at which there is no profit and no loss.

#question.discuss the importance of cost classification to a business organisation?