TAILIEUCHUNG - Lecture Budgeting - Chapter 6: Master budget for manufacturing organisations

In this chapter we will consider master budget for manufacturing organisations. This chapter presents the following content: Cost classifications, product costs, manufacturing process, cost of production requires the preparation of the following budgets, factory overhead application rate,.and other contents. | Chapter 6 Master budget for manufacturing organisations 6- Cost classifications Product costs are the costs of converting raw materials into a finished product. 1. Raw materials 2. Direct labour 3. Factory overhead Period costs are all other costs associated with the business. 1. Marketing expenses 2. General and administration expenses 3. Financial expenses 6- Product costs Direct costs: major items of cost that can be relatively easily traced to the product, such as raw materials and direct labour. Raw materials and direct labour Prime cost Indirect costs: cannot not be easily traced directly to the product. All factory overhead. Factory overhead: all indirect costs of running a factory. Examples: indirect materials, indirect labour, factory insurance. 6- Manufacturing process input process output Direct materials Direct labour & factory overhead Finished goods 6- Cost of production requires the preparation of the following budgets Sales Production Direct .

• Kế toán - Kiểm toán
• Lecture Budgeting
• Budgeting fundamentals
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• Master budget
• Product costs
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• Behavioral aspects of budgeting
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