I'd recommend taking look at ASME Y14.34 (Associated Lists) for BOM structures and ASME Y14.100 (Engineering Drawing Practices).
I haven't seen a requirement in any industry standard for the material to be listed on a machinement drawing.
I have seen many prints for parts machined from castings and I can remember them falling into one of three categories.
1) Prints that have a parts list where the casting part number is referenced as a required item with no reference to what type of material the casting is.This is the most common i've seen and these drawings have the material defined on the casting drawing.
2) Prints that have a parts list where the casting part number is referenced as a required item with the casting material as a reference.
3) Prints that have all of the casting data and machining data on one drawing. All of the prints I've seen like this have been decades old.
Looking at Genium's manual, this is addressed in section 4.4 paragraph 3.2.1
Specifying Material, Finish, or Process - The material, applied finish, or process for a particular item shall be specified only on the drawing on which the part is described. It shall not be repeated on any other drawing or parts list.
I've always assumed that the material callout was akin to a tolerance and applies similarly (like the genium manual states), but I can't find confirmation of this in the ASME standards.
Have you seen prints that call out the raw material like a356 and then don't callout the cast configuration part number and then control the order of operations for cast to rough and then final on a top assembly indented BOM?
Does ASME consider that prints are manufacturing prints? I always thought that there was some debate between drawings being inspection prints vs.actual process drawings between ASME and ISO.