GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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how much raw materials are NOT required
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how much raw materials are needed to reach maximum stock level
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how much raw materials are required
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how much raw materials before the business hits it minimum stock level
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Detailed explanation-1: -Key Takeaways Raw materials are the input goods or inventory that a company needs to manufacture its products. Examples of raw materials include steel, oil, corn, grain, gasoline, lumber, forest resources, plastic, natural gas, coal, and minerals.
Detailed explanation-2: -Days of raw material ratio reflects the number of days of Purchases the inventory represents, or viewed the other way round, the number of days necessary for raw material on the Balance sheet to be consumed. This ratio is obtained by dividing inventory of raw material by daily Purchases of raw material (VAT exclusive).
Detailed explanation-3: -Raw materials are not only essential for the production of a broad range of goods and services used in everyday life, but also for the development of emerging innovations, which are notably necessary for the development of more eco-efficient technologies and globally competitive products.
Detailed explanation-4: -Determine the time period. Discover the value of the starting raw materials inventory. Calculate the raw materials purchased. Subtract the cost of goods sold. Calculate the average raw materials inventory. Find the cost of goods sold. More items •03-Feb-2023