Course Description
In this Course you will understand the importance of material in the overall cost of any product.
Material can be classified into two types. Direct Material and indirect Material. We should know how to value the Material Cost while arriving out the total cost of a product.
Material Control is another important topic which explains the need for maintaining adequate material at all intervals to have interruption free production.
You will understand how to value the materials. What are the items that should be included in the cost of the material and what are the items that should be excluded.
You will understand what are the store records that should be maintained.
You will understand the techniques of inventory Control like setting various stock levels, ABC Analysis, Economic Order Quantity, Perpetual Inventory, Control Ratios Etc,.
You will understand the treatment of Normal and Abnormal loss of materials, also the accounting and control of Waste, Scrap, Spoilage and defectives.
You will understand what is the Bill of Materials, Material Requisition Note, Material Issue Procedure, etc.
With this Course, you will gain insight into various aspects of material costing and it will be of great use while approaching for professional examinations and practical applications.
Material can be classified into two types. Direct Material and indirect Material. We should know how to value the Material Cost while arriving out the total cost of a product.
Material Control is another important topic which explains the need for maintaining adequate material at all intervals to have interruption free production.
You will understand how to value the materials. What are the items that should be included in the cost of the material and what are the items that should be excluded.
You will understand what are the store records that should be maintained.
You will understand the techniques of inventory Control like setting various stock levels, ABC Analysis, Economic Order Quantity, Perpetual Inventory, Control Ratios Etc,.
You will understand the treatment of Normal and Abnormal loss of materials, also the accounting and control of Waste, Scrap, Spoilage and defectives.
You will understand what is the Bill of Materials, Material Requisition Note, Material Issue Procedure, etc.
With this Course, you will gain insight into various aspects of material costing and it will be of great use while approaching for professional examinations and practical applications.
Course Details
1. Introduction to Material Costing10. Just in Time Purchases
11. ABC Analysis
12. Bonus Lecture - Discount Coupon Links for other Courses
2. objectives of material cost controlling
3. Requirements of Material cost control
4. elements of material cost control
5. techniques of material cost control
6. Decision making in material purchases
7. Material purchase procedure
8. supplier selection procedure
9. Supplier payment procedure
Section: 1 Introduction to Material Costing
LINK FOR THE FREE COURSE
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