—+ CHAPTER- : ACCOUNTING FOR MATERIALS
—T & MATERIAL CONTROL af
Material / Processing Finished
Raw Material [Factory] Product
a
Meaning of Material:
Material means all commodities / articles which are
used in the factory to manufacture Goods or to
render services.
Types of Material:
Normally there are 2 types of material-
1) Direct Material
2) Indirect Material 1) Direct Material:
Direct material means materials which can be easily
identified with and can be directly allocated with
the product.
Example:
- Milk in Ice-Cream
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