Assuming this is not homework... I'd do something like this:
Table: Products
Prodid (PK), Name
(I suppose some extra column would come handy... like... shelf-life? needs-special-storage?)
Table: Materials
Matid (PK), Name, unit-of-measure (is it in grams, kilos, meters, items...)
(Again, price? shelf-life?)
Table: ProdMat
PK: Prodit+MAtid, Prodit (FK), Matid (FK), Quantity.
So, going back to your example, let's see product Gizmo:
Products Table
Prodid | Name
00203 | Gizmo
It is made of 5 different "materials":
Table: ProdMat
Prodit | Matid | Qty
00203 | 0034 | 2
00203 | 0010 | 11
00203 | 0567 | 1
00203 | 0002 | 1
00203 | 0039 | 1.675
and these are:
Table: Materials
Matid | Name | u-o-m
0034 | Cogs, brass, diam.2" | Units
0010 | Spring, small | Units
0567 | Gizmo shell (lower) | Units
0002 | Gizmo shell (upper) | Units
0039 | Sand | Pounds
Now, if your problems includes sub-assemblies, or stuff that gets in as raw material and can undergo internal processing to become refined, or machined, or anyway transformed into one or more semi-processed materials/products than may become in turn parts of another Product... then things start getting interesting.