An improved material handling bucket assembly is configured for construction or agricultural front loading or backhoe applications. Scraper and grader blades pivotally mounted relative to the bucket bottom cooperatively move to provide normal bucket operation, or scraping, or grading operations. A scraper blade selectively rotates between a first position closing an opening through the bottom wall of the bucket to a second position extending below the bucket for removing ground soil during a scraping operation and directing the removed soil into a collection chamber of the bucket. A single power source and linkage assembly controls movement of the scraper and grader blades, which also cooperatively move to change the size of the opening in the bottom wall during a scraping operation.