Accounting technicians scheme west africa
Download 3.37 Mb. View original pdf
|
- Navigate this page:
- Production supplies
| C.6.2 Industrial products Industrial products maybe classified as raw materials, installations, accessories, components and supplies. a) Raw materials refer to unprocessed industrial goods that are used to produce other goods. Raw materials consist of farm products (wheat, cotton, livestock, fruits, vegetables) and natural products (fish, lumber, crude petroleum, iron ore. bi Installations include fixed assets or expensive major goods that do not form part of the finished product but are expended or subjected to wear and tearing during the period of utilization. Examples of installation are factory buildings, large plants and equipment. c) Accessories: are industrial products used to aid production operations of an organisation but which do not have any significant effect on its scale of production. Accessories like installations do not form part of the final product but they are not as costly as the latter. Examples of accessories include office equipment such as computers, typewriters, portable tree-cutting machines, forklift trucks and factory hand tools. d) Office Supplies These do not become part of the finished product, but are depleted during production. These include products used for business/office services such office consumables- paper, ink, marker, toner, stationery, etc maintenance and repair services window cleaning, computer repair) and business advisory services (legal, management consulting, and advertising. Such services are usually supplied under contract. e) Production supplies: These include operating supplies (lubricants, coal, paper, pencils) and repair and maintenance items (paint, nails, brooms. Supplies are the convenience products of the industrial field because they are usually purchased with a minimum of effort or comparison. f) Components: are industrial products that become part of the finished product. Component parts require no processing again before they are assembled in the finished product. Examples include spare parts of vehicles, tyres, buttons, bolts and nuts. |