Information about financial, finance, business, accounting, payroll, inventory, investment, money, inventory control, stock trading, financial advisor, tax advisor, credit.
Main Page: credit, payroll, financial advisor, business, finance, money, stock trading, inventory,
Definition of Nonconforming material
Any inventory item that does not match its original design
Very early orders for materials before the completion
A listing of all the materials and quantities that go to make up a completed product.
a document that contains information about
An itemization of the parts and subassemblies required to create a
A listing of all parts and subassemblies required to produce one
A bill of material that accounts for the generation and
a readily identifiable part of a product; the cost of such a part
The cost of all materials used in a cost object, such as finished goods.
The variance between the budgeted and actual mixes of
Inventory that has been physically marked as being for a
A bill of material reporting format under which successively
(actual mix X actual quantity X standard price) - (standard mix X actual quantity X standardprice);
total actual cost of material purchased
(actual quantity X standard price) - (standard quantity allowed standard price);
A computerized system used to calculate material
Material requirements planning (MRP)
A computer-driven production methodology
material requisition form
a source document that indicates
Material review board
A company committee typically comprising members representing
material yield variance
(standard mix X actual quantity X standard price) - (standard mix X standard quantity X standard price);
The proportional size of a financial misstatement. It can be construed as
A characterization of the magnitude of a financial statement item's effect on a
Materials price variance
The difference between the actual and budgeted cost to
Materials quantity variance
The difference between the actual and budgeted quantities
Materials requirement planning
Computer-based systems that plan backward from the production schedule
materials requirements planning (MRP)
a computerbased information system that simulates the ordering and
A document listing the quantities of specific parts to be withdrawn
Matrix bill of material
A bill of materials chart listing the bills for similar products,
Modular bill of material
A bill of material format in which components and subassemblies
Multilevel bill of material
An itemization of all bill of material components, including
The waste materials resulting from a production process.
Phantom bill of material
A bill of materials for a subassembly that is not normally
Base-level items used by the manufacturing process to create either
Raw material supply agreement
As used in connection with project financing, an agreement to furnish a
Unprocessed goods bought for manufacture, part of inventory.
Raw materials inventory
The total cost of all component parts currently in stock that
Repair bill of material
A special bill itemizing changes needed to refurbish an
material that has been reworked and returned to stock.
material that has been reserved for a specific purpose.
Single-level bill of material
A list of all components used in a parent item.
Summarized bill of materials
A bill of materials format showing the grand total
Related to : financial, finance, business, accounting, payroll, inventory, investment, money, inventory control, stock trading, financial advisor, tax advisor, credit.