Material Cost

Front 1

What is raw material

Back 1

Goods purchased for incorporation into product for sale

Front 2

When direct material can be treated as indirect material cost

Back 2

Sometimes small quantities of direct material used in the product like gums and threads are used in binding book may be categorized as indirect material cost

Front 3

What is inventory

Back 3

Inventory as tangible property held.finished good WIP RAW MATERIAL

Front 4

Need for inventory control

Back 4

So that man and machine don't have wait.

help in controlling the production cost.

To reduce purchasing and storing cost without affecting production or sale.

to keep the size of inventory optimum.

To reduce excessive consumption and wastage

Front 5

Dormant/non moving stock

Back 5

Items which are not moving temporarily but their movement expect shortly

Front 6

Slow moving stock

Back 6

Items which are moving at slow rate

Front 7

Feature of material cost control

Back 7

1. Optomise the cost and quality of raw material

2.timely procurement and avoid urgent purchase

3.over stockings should be avoided

4.wastage and looses should be avoided at every stage of operation

5.material should be classified and accounted

Front 8

Purchase and store routine

Back 8

1.material inspection note

2. Material transfer note

3. Bill of material

4.purchase requisition

5. Bin card

6.store ledger

Front 9

Bill of material vs material requisition note

Back 9

Front 10

Bin card vs ledger

Back 10