The production budgets are used to prepare which of the following budgets? opera

Question

The production budgets are used to prepare which of the following budgets? operating expenses sales in units direct materials purchases, direct labor cost, and factory overhead cost sales in dollars The budgeted finished goods inventory and cost of goods sold for a manufacturing company for the year are as follows: January 1 finished goods, $765,000; December 31 fished goods, $540.000; and cost of goods sold for the year, $2,560,000 The budgeted costs of goods manufacture for the year is $2.785.000 $2,335,000 $1.255.000 $3,100,000

Explanation / Answer

After Production budget the direct material, Direct Labor. Overheads etc budgerts are prepared The correct option is C. Direct Material Purchases. Direct Labor Cost, and Factory Overhead Cost 2 Cost of goods manufactured = Cost of Goods sold+ Closing- Opening 2560000+540000-765000 Cost of Goods Manufactured 2335000 The correct option is B. $ 2335000

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