Budgeting assessment 1, task 3

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dumutroba
dumutroba Registered Posts: 262
in Management Accounting: Budgeting
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  • sophie_612
    sophie_612 Registered Posts: 136 Dedicated contributor 🦉
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    sophie_612 said:

    dumutroba said:

    Solution

    @dumutroba thank you so much for this.
    @dumutroba how do i work out the overtime part?
  • dumutroba
    dumutroba Registered Posts: 262
    edited April 2019
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    Produced units x times taken to produce one unit

    348000x5/60=29000h required

    29000h-26240=2760h will be overtime
    AAT Level 2. 2018 Distinction
    AAT Level 3. 2018 Distinction
    AAT Level 4. 2019 FSLC 100% MABU 93% MADC 82% PDSY 80%
    Xero Certified Advisor
  • sophie_612
    sophie_612 Registered Posts: 136 Dedicated contributor 🦉
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    i just need a little help with part b and c of this question, i've started filling it out but i don't get how the have worked out some of the answers @dumutroba
  • sophie_612
    sophie_612 Registered Posts: 136 Dedicated contributor 🦉
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    i just need a little help with part b and c of this question, i've started filling it out but i don't get how the have worked out some of the answers @dumutroba
  • sophie_612
    sophie_612 Registered Posts: 136 Dedicated contributor 🦉
    edited April 2019
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    i just need a little help with part b and c of this question, I've started filling it out but i don't get how the have worked out some of the answers @dumutroba i've posted images to your wall as it will not let me upload
  • sophie_612
    sophie_612 Registered Posts: 136 Dedicated contributor 🦉
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  • sophie_612
    sophie_612 Registered Posts: 136 Dedicated contributor 🦉
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  • dumutroba
    dumutroba Registered Posts: 262
    edited April 2019
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    Budgeted production cost per unit will be
    Budgeted production cost /number of units, or £97440/348000=£2.80

    Closing inventory is 34200 units, therefore £2.80x34200=£95760

    Cost of goods sold is opening inventory +production overheads - closing inventory

    The rest of it just follows
    AAT Level 2. 2018 Distinction
    AAT Level 3. 2018 Distinction
    AAT Level 4. 2019 FSLC 100% MABU 93% MADC 82% PDSY 80%
    Xero Certified Advisor
  • sophie_612
    sophie_612 Registered Posts: 136 Dedicated contributor 🦉
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    dumutroba said:

    Budgeted production cost per unit will be

    Budgeted production cost /number of units, or £97440/348000=£2.80



    Closing inventory is 34200 units, therefore £2.80x34200=£95760



    Cost of goods sold is opening inventory +production overheads - closing inventory



    The rest of it just follows

    @dumutroba where did you get the 97440, how do you work that figure out?
  • dumutroba
    dumutroba Registered Posts: 262
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    It should say 974,400, this is matrial, labour and production overhead costs combined
    AAT Level 2. 2018 Distinction
    AAT Level 3. 2018 Distinction
    AAT Level 4. 2019 FSLC 100% MABU 93% MADC 82% PDSY 80%
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