Thanks for being interested in ATUM Product Levels.
Let me explain to you how the plugin works first.
With ATUM Product Levels you can create a bill of materials (BOMS), in order to create final products. So in your case, you have to create the raw materials, for example:
RAW MATERIAL 1 - sugar - 100 gr
RAW MATERIAL 2 - chocolate - 200 gr
RAW MATERIAL 3 - flour - 300 gr
Note that you cannot add units of measure, but if you use grams for all your products, for example, you will not have any problem. The gr above are the total stock you have of each raw material.
Then you have to create the final product, let's say is a cake. You have to link it to the raw materials. Imagine that you need 20 gr of sugar, 40 gr of chocolate and 350 gr of flour to make 1 unit of cake. As you lack amount of flour to make a unit of a cake, the product will be displayed out of stock. And in the backend you will be able to see which raw materials are out of stock, of course.
In any case I leave you here the documentation of the add-on where you will find useful info about how it works: https://forum.stockmanagementlabs.com/t/product-levels-documentation
And the link to the demo site in case you want to try the free trial: https://stockmanagementlabs.com/addons/atum-product-levels/
Hope this helps,