Budgeting Level 4 Practice Assessment 1, Task 3(b)
dalmatian
Registered Posts: 37 New contributor 🐸
I'm stuck at this point of the Operating Budget:
Closing inventory of finished goods (In the assessment performance feedback it says that this is valued at budgeted production cost per unit) but how do I find this value??? The answer is 8825 but I cannot work out how it is calculated, can anybody help?
Closing inventory of finished goods (In the assessment performance feedback it says that this is valued at budgeted production cost per unit) but how do I find this value??? The answer is 8825 but I cannot work out how it is calculated, can anybody help?
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Comments
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Sorry this is from the Osbourne Book "Preparing and Using Budgets"0
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Hi d.
1000 from closing inventory of finished goods * 8.825 =8825
8.825 will come from total of raw materials+direct Labour+production overheads divide 28000 which is production....
So...140000+51100+56000=247100/28000=8.825*1000=8825
Hope this helpsBelieve you can and you're halfway there...0 -
Yes, it does. Many thanks!
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