Cost of Materials Budget
jewels.p
Registered Posts: 1,774 Beyond epic contributor ๐งโโ๏ธ
I am trying to do a question and it asks you to calculate the Materials Purchase Budget and then also the Cost of Materials Budget. I have calculated the Materials Purchase Budget do I just multiply it by the cost per kg to get the Cost of Materials Budget or do I have to do more than that? 
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If I remember correct that's about it. But I am not 100% sure on it and am at work at the moment, so I can't look it up to check either.0
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I hate this subject so could be completly wrong, but do you need to watch for stock? As you wouldn't need to buy that.0
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Do you think there is anybody who liked this subject? Aaaagh it just gets worse :mad:0
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Look out for opening and closing stocks and if any wastage incurred, also say for instance you are given kgs and grammes i.e
cost of materials is ยฃ2 per kilo and you use50 grammes of material per unit you have to convert
so you 50/1000 = 0.05 x 2 = 10 pence per unit then times it by the amount of units
so say production is 5000 units the materials used is 0.05 x 5000 = 250 kgs and the cost would be 0.10 x 5000 = ยฃ500
(double check 250kgs used x ยฃ2 per kg = ยฃ500)
Sorry woffled a bit there0 -
Look out for opening and closing stocks and if any wastage incurred, also say for instance you are given kgs and grammes i.e
cost of materials is ยฃ2 per kilo and you use50 grammes of material per unit you have to convert
so you 50/1000 = 0.05 x 2 = 10 pence per unit then times it by the amount of units
so say production is 5000 units the materials used is 0.05 x 5000 = 250 kgs and the cost would be 0.10 x 5000 = ยฃ500
(double check 250kgs used x ยฃ2 per kg = ยฃ500)
Sorry woffled a bit there
Bloomin heck Vic now you have made it even worse! The price is in kg and I used kgs that's enough for now. Don't confuse me even further by having to convert gm to kg! lol
You're more advanced on this than me remember! lol0 -
its just there is 1000 grammes to a kilo.
But i will now go hide in a dark corner somewhere
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its just there is 1000 grammes to a kilo.
But i will now go hide in a dark corner somewhere
That is one thing I do know that there is 1000g in a kg I aint being funny but is there really people that dont know that?
If I get that wrong in an exam it will only be because I never read the question properly not because I didnt know that. Was there a big issue on here about that before something rings a bell?0 -
Yep there was a big discussion on it as it was in an exam and people were complaining they didn't know there were 1000g in a kg.
Think the discussion was mentioned again in Chat a few months ago and someone posted a link to the original thread.0 -
Look out for opening and closing stocks and if any wastage incurred, also say for instance you are given kgs and grammes i.e
But if you are talking about the materials purchasing budget, you already calculated all the stock and wastage calculations in your materials usage budget?
Hence I thought it was just a simple yes.0 -
That is one thing I do know that there is 1000g in a kg I aint being funny but is there really people that dont know that?
If I get that wrong in an exam it will only be because I never read the question properly not because I didnt know that. Was there a big issue on here about that before something rings a bell?
i wasnt been smart about that i just struggle explaning what i mean so i broke it down, if it was taken the wrong way i apologise0 -
I didnt think you were being smart you silly sausage I thought it was quite funny actually! :laugh:0
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Fook me, 1000gs in a KG? 0
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Hey nobody else has answered my ORIGINAL query on this thread yet!
Why oh why does these threads never stay on topic............................ah I remember Vic's here!
This thread is now restarting as F.A.O SANDY!0 -
O dear, would that help?Hey nobody else has answered my ORIGINAL query on this thread yet!
Why oh why does these threads never stay on topic............................ah I remember Vic's here!
This thread is now restarting as F.A.O SANDY!
I thought A-Vic did answer the original question though.0 -
i love this unit! NOT!!!
anyone one the past exams yet?
i still haven't finished my workbook! ;-(0 -
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O dear, would that help?
I thought A-Vic did answer the original question though.
Vic gave me the EXTREME answer (and I am grateful to you Vic dont think I amnt!
I didnt think I had to do all those workings out as I had already done the Production Budget workings so am still not sure??0 -
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I thought you were on the past papers. I amnt even gonna bother trying them yet as I know I wouldn't get past the first question!
i finished my dfs workbook, but didn't attempt on the practice exams as i have not have the answers for it, i am on charpter 10 of my MAC workbook, need to finish asap, but i find it very hard to continue.....0
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