Budgeting long q Flashcards
1
Q
What value is any non-cash mvmt given?
A
0
2
Q
How are materials payments worked out?
A
Current month units x unit cost
(Don’t be fooled by the jargon)
3
Q
When are labour costs charged to?
A
Month of production
4
Q
How is the closing balance calculated?
A
Net surplus/deficit + opening inventory
5
Q
How is the net surplus/deficit calculated?
A
Receipts - payments
