Question

1. Material can be put in the following categories:
(A) Purchased materials
(B) in-process materials
(C) Finished goods
(D) All of these
2. Material management is defined as a function that integrates.
(A) Purchasing
(B) Inventory control
(C) Either A or B
(D) Both A and B
3. The average material cost in a manufacturing setup is around.......
(A) 40-60%
(B) 70-80%
(C) 50-70%
(D) None of these
4. Material management has to do activities related to
(A) Planning
(B) accusation
.
(C) utilization of materials
(D) All of these

Answer 1

Answer:

sorry I didn't no answer

Answer 2

Following are the correct answers to these questions:

1. (D) All of these

2. (B) Inventory control

3. (A) 40-60%

4. (C) Utilization of material.

Explanation:

• A material, or for this matter can be classified into a variety of classes. As the nature of the material is not provided, it could be any or all of the given options. It may be a purchased, in-process, or finished good.

• Material management is primarily concerned with proper utilization and control of the inventory. It is also related to various other activities that are typically related to inventory control.

• The average material cost refers to the capital required just for incurring the materials required to make a finished good. This cost lies somewhere between 40-60%.

• Material management is the act of maintaining the material available to the organization. Proper utilization of material is the same as managing them efficiently.