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Material Control

Material control is very small term of cost accounting but its deepness can only guesstimate when a cost accountant does this function practically  with co-operation of other employees.

In this content, you can read FAQ relating to material control.

Q: - 1. What is material control?

Ans. Material control is control over materials. With this, we have to save every loss of money which will be invested in material. Not only save overstocking and under-stocking problem, but to check every miss-management of material. { More detail of inventory management at here.}

Q: - 2. What are the benefits of material control?

Ans. It will reduce the total cost of production and provide high return on each unit of output.

Q: - 3. How can scientific material purchasing be helpful to control material?

Ans. Scientific purchasing is done by purchase department but all other department like finance, research, production and marketing also have to participate in this function indirectly. Because

a) Production department will provide correct demand of material for production.

b) Finance department will disclose the minimum money resources for fulfilling that demand.

c) Store department will tell what quantity of material already in store.

d) Purchase department will search same goods in market.

e) Purchase department will finally order for purchasing.

f) Receiving department will receive the material and make  receiving of material note.

g) Again finance and accounting department will pay the money of purchased goods.

If above process will be done under proper way, cost of material can be controlled by stopping purchase of inferior quality material at higher price.

Q:-4. How to control the material issued by store department?

Ans. Store keeper must record quantity of every received and issued material stock. He must maintain store ledger. He also issues the material after receiving the requisition form by any other department. With this record, he can control

a) Misuse of material

b) If goods are issued on the basis of bill of material, there will be minimum mistake of issuing wrong stock because of mentioning all engineering design and technical detail on bill of material.

c) For fast transferring of material, classification and codification will also save the time of labor for searching material in store. Save the time means save the cost of labor.

Q: - 5. What is importance of Bin Cards in material control?

Ans. Bin cards are used to records and control the quantity of material when store keeper receives and issues the material. Bin- card is kept in each cabinet or tray of material.

Q:- 6. Why is Internal Check System used for material control?

Ans.  Internal check system is useful to check  misappropriation of material. For reducing it, work duties  are changed with in store, production and purchase departments.

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Accounting Education: Material Control
Material Control
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