…………… is he grouping of material according to its nature.

Related MCQs

• Under……………… method of pricing issues, issues are valued at a price calculated by dividing the total cost of material in the stock by the total quantity of material in stock.
• …………………helps the management to eliminate inefficiencies caused by material wastage, use of obsolete machinery, improper planning etc.
• The cost of direct material is termed as…………..
• The total of direct material, direct labour and direct expenses is known as………..
• Material, Labour and Expenses are the three important…………. of cost.
• The aggregate of indirect material, indirect labour and indirect expenses in termed as…………….
• The overhead cost incurred from the stage of procurement of raw material till the stage of production of finished goods is known as…… .
• When material prices fluctuate widely the method of pricing that gives a best result in
• The term……………..is defined as a system that ensures the provision of the required quantity of material of the required quality at the required time with the minimum amount of capital.
• One of the objective of …………….is to avoid under and overstocking of material.