O'Reilly logo

Cost Accounting by V. Rajasekaran, R. Lalitha

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

2

Direct Materials

LEARNING OBJECTIVES

After studying this chapter you should be able to:

  1. Understand and explain direct materials and indirect materials.

  2. Appraise the objectives of purchase department and responsibilities of purchase department.

  3. Distinguish between centralized and decentralized purchasing.

  4. Explain the various stages involved in purchase procedure.

  5. Know the various documents used in purchase procedure, their specimens, their significance etc.

  6. Ascertain direct material cost.

  7. Understand the duties and functions of a store keeper.

  8. Know the meaning of inventory control and apply the techniques of inventory control.

  9. Fix various stock levels.

  10. Understand the perpetual inventory system and the periodic inventory system and the differences ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required