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The production budget shows both unit production data and unit cost datais this trueexplain?
Wiki User
∙ 15y ago
The production budget shows both unit production data and unit cost detais this true explain?
Wiki User
∙ 15y ago
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The use of a direct materials budget?
The direct materials budget shows the quantity and cost of direct materials to be purchased. The budgeted cost of direct materials to be purchased is then computed by multiplying the rquired units of direct materials by the anticipated cost per unit. Inadequate inventories could result in a temporary shutdown of production.
What is the difference between a budget and a financial report?
The main difference is, budget is a planned activity to meet the targets whereas financial report is the one which shows the health/wealth of the organization.
Law of increasing opportunity costs reflected in a PPC is concave to the origin?
The Law of Increasing Opportunity Cost that is shown in a Production Possibilities Curve is concave to the origin. This is because it shows the maximum gain of two products used in production.
What is the importance of spending time on a budget?
The importance of a budget cannot be stressed enough not only for the value of doing a budget and sticking to a it but because this culture does stress the opposite to the value of it. Spending time on a budget with all the stakeholders allows everyone to have an input and take ownership in it and the results that come from it. I don't mean that the "budget meeting" is one where one person presents the budget as set in stone and the other people are simply an audience. These "meetings" are for feedback and exchange and coming to consensus about how the money will be used to support the household. Everyone gets a vote! Spending time on a budget shows maturity, respect, and shared goals. For the adults in the discussion (whether they earn the money or not) this gets everyone on the same page and buy-in to the process. This is not a dictatorship but a mutual goal. But a budget is worthless if after the meeting every goes their own way and spends whatever they want afterwards. The budget - a good budget - is a living document - a map to the goals you want to attain to be followed by everyone without exception!
Why is it important for a business to prepare a cash budget and a capital budget?
In planning, management must set specific odjectives for each section of the entity. Plans shiuld be drawn up with a view to both the short and the long term, and must be based on forecastes regarding demand, sopply and expected techonological improvements. Therfore, a cash budget shows the expected flow of cash. Cash flow is crucial to any entity and therefore the cash budget is very important to any business entity as it involves planning, control, coordination, ect.
If the sales budget shows a sharp increases in a particular months than in order to meet sales forecast the production budget must call increased production in the month?
Same Month
What is The Amazing Race production budget?
There is no fee to apply to be on 'The Amazing Race'. The only costs to applywould be in making the video and sending it into the production team. There is not any public information on the production costs of "The Amazing Race". In contrast to other competition shows, there are additional costs of international travel, the exotic challenges, pit stops and airfare.
What line that shows different production possibilities for an economy?
production possibilities frontier
The use of a direct materials budget?
The direct materials budget shows the quantity and cost of direct materials to be purchased. The budgeted cost of direct materials to be purchased is then computed by multiplying the rquired units of direct materials by the anticipated cost per unit. Inadequate inventories could result in a temporary shutdown of production.
Where is tempest bledsoe from the Cosby show?
In Production of shows
What is the difference between a balance sheet and a budget variance?
A budget is all expenses of the performances which has done by actual forecasting in front of the income and sources but balance sheet is a sheet that we appear what we have and both sides of balance should be equal and shows the situation of a company but budget shows the estimation of the costs!
When does Coronation Street film?
Coronation Street has about 5 shows a week. To keep up this amount of shows, the show is in constant production, so it is being filmed almost daily throughout the year.Coronation Street has about 5 shows a week. To keep up this amount of shows, the show is in constant production, so it is being filmed almost daily throughout the year.Coronation Street has about 5 shows a week. To keep up this amount of shows, the show is in constant production, so it is being filmed almost daily throughout the year.Coronation Street has about 5 shows a week. To keep up this amount of shows, the show is in constant production, so it is being filmed almost daily throughout the year.Coronation Street has about 5 shows a week. To keep up this amount of shows, the show is in constant production, so it is being filmed almost daily throughout the year.Coronation Street has about 5 shows a week. To keep up this amount of shows, the show is in constant production, so it is being filmed almost daily throughout the year.Coronation Street has about 5 shows a week. To keep up this amount of shows, the show is in constant production, so it is being filmed almost daily throughout the year.Coronation Street has about 5 shows a week. To keep up this amount of shows, the show is in constant production, so it is being filmed almost daily throughout the year.Coronation Street has about 5 shows a week. To keep up this amount of shows, the show is in constant production, so it is being filmed almost daily throughout the year.Coronation Street has about 5 shows a week. To keep up this amount of shows, the show is in constant production, so it is being filmed almost daily throughout the year.Coronation Street has about 5 shows a week. To keep up this amount of shows, the show is in constant production, so it is being filmed almost daily throughout the year.
Classification of budgets?
Master Budget The master budget is also known as The master budget is also known as the financial plan.. Master budgets form the basis of the control systems form the basis of the control systems in organizations. The master budget in organizations. The master budget may take the form of a profit and loss account and form of a profit and loss account and a balance sheet at the end of the a balance sheet at the end of the budget period. It shows the gross budget period. It shows the gross and the net profits and the important and the net profits and the important accounting ratios. Sometimes more accounting ratios.The master budget has two components: the operating has two components: the operating budget and the financial budget. The budget and the financial budget. The operating budget includes the sales operating budget includes the sales budget, cash collections from budget, cash collections from customers, purchases budget, customers, purchases budget, disbursements for purchases, disbursements for purchases, o p eratin g ex p ense bud g ets. operating expense budgets. . ‡FIXED BUDGET: Thisis defined as a budget which is designed to remain unchanged irrespective of the volume of output or turnover attained. This budget will, therefore, be useful only when the actual level of activity corresponds to the budgeted level of activity. 7  SALES BUDGET: Sales budget is the most important budget based on which all the other budgets are built up. This budget is a forecast of quantities and values of sales to be achieved in a budget period. ‡ PRODUCTION BUDGET: Production budget involves planning the level of production which in turn involves the answer to the following questions: a.What is to be produced? b.When is it to be produced? c.How is it to be produced? d.Where is it to be produced? ‡FLEXIBLE BUDGET: CIMA defines this budget as one ³ which, by recognizing the difference in behavior between fixed and variable costs in relation to fluctuations in output, turnover or other variable factors such as number of employees, is designed to change appropriately with such fluctuations´. ‡PERFORMANCE BUDGETING: These days budgets are established in such a way so that each item of expenditure is related to specific responsibility centre and is closely linked with the performance of that standard. ‡CAPITAL EXPENDITURE BUDGET: This is an important budget providing for acquisition of assetsnecessitated by the following factors: a. Replacement of existing assets. b. Purchase of additional assets to meet increased production c. Installation of improved type of machinery to reduce costs. ‡CASH BUDGET: This budget gives an estimate of the anticipated receipts and payments of cash during the budget period. Cash budget makes the provision for minimum cash balance to be maintained at all times. ‡PERSONNEL BUDGET: This budget gives an estimate of the requirements of direct labor essential to meet the production target. This budget may be classified into ± a.Labor requirement budget b.Labor recruitment budget ‡RESEARCH AND DEVELOPMENT BUDGET: This budget provides an estimate of expenditure to beincurred on R & D during the budget period. AR&D budget is prepared taking into consideration the research projects in hand and new R & D projects to be taken up. ‡ZERO BASE BUDGETING: The zero basebudgeting is not based on the incremental approach and previous figures are not adopted as the base. Zero is taken as the base and a budget is developed on the basis of likely activities for the future perio
Characteristics of production possibility curve?
It slopes downward towards right:this shows that we will have to reduce the production of one commodity to increase the production of the another commodity.
What is a production possibilities graph?
production possibilities graph is a graph that shows alternative ways to use an economy's resources.
A production possibilities curve shows the relationship between the production of which two items?
any two categories of goods
What is difference between indifference curve and budget line?
budget line shows purchasing power of an consumer but indifference curve show willingness of consumer for two commodities.
