Materials are physical substances used as inputs to
production or
manufacturing. Materials range from man made synthetics such as many plastics to natural materials such as
copper or
wood.
Raw materials, materials in their unaltered, natural state, are first extracted or harvested from the earth and divided into a form that can be easily transported and stored. The raw materials are then processed to produce "semi-finished materials". These can be input into a new cycle of production and
finishing processes to create "finished materials", ready for
distribution and
consumption.
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a classification of industrial goods that are basic materials which become part of a physical product in the manufacturing process.
unfinished goods consumed by a manufacturer in providing finished goods. Classified as inventory in the current assets section of a company's balance sheet.
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