Assume that ABC Company recently hired you as its plant production manager. The VP of manufacturing...
Assume that ABC Company recently hired you as its plant production manager. The VP of manufacturing has asked you to provide a budget for the next quarter production for prime costs. What information will you need from accounting to assist in building this report?
Homework Answers
In order to build a budget related to prime cost we needs all the informations which is related to direct labor and direct materials.
It requires all the details of payments made to labour in the quarter and details of all cash and credit purchases of materials in the Same period. Payroll documents will support the payments made to labour.
Prime cost is the total amount of direct materials and labourers to the production.
Collection of all the information related to labour and materials will help to make the quarterly budget of prime cost.
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