Material Management
- Production Management
Bin Cards | Perpetual Inventory System | Material Transfer Note | Purchase Requisition
These four terms are common in materials management which we cannot ignore. (a) Bin cards. (b) Perpetual Inventory System, (c)…
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Advantages and Disadvantages of Last in First out (LIFO) Method
Last in-First-Out Method or Life Method is another inventory pricing method based on cost. As against the First in First…
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Advantages and Disadvantages of First in First out (FIFO) Method
Under First in First out Methods or FIFO Method method, material is first issued from the earliest consignment on hand…
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Market Price and Standard Price Method of Stock Valuation
Market Price Methods: Under market Price method, the raw material can either be charged on the replacement price or the…
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5 Factors of Successful Store Keeping
The success of store keeping can be judged by the smooth running of production department. The underlying factors of successful…
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The Principal Methods of Pricing of Materials taken out Store for Production
There are different methods of pricing of materials taken out of stores for production under discussion. When raw material is…
Read More » - Accounting
How to Determine The Time to Order of Materials?
The economic order formula answers rather acceptably the quantity problem of inventory control. However, the time to order question is…
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Difference Between Direct And Indirect Materials
Indirect Materials and Factory Supplies. Distinguishing incorrectly between direct and indirect materials (the latter being part of overhead) has the…
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