Production Budgets
Attempt the ten questions below and then click 'Submit'.

Q1. Sales are expected to be 11,000 units. Opening Stock is 3,000 units, Closing Stock needs to be 2,000 units. How many products will we produce? *
10 points
Q2. We are producing 4,500 units of Product Y, which requires 4kg of Material 1 (at €3.50 per kg) and 6kg of Material 2 (at €4.25 per kg). If Opening Stock of Material 1 is 2,000kg and Opening Stock of Material 2 is 3,000kg, how much will we spend buying Raw Materials (no Closing Stock is required)? *
10 points
Q3. In calculating the total Cost of Production, how do we deal with the Stock of Raw Materials? *
10 points
Q4. We are producing 7,000 products. The Skilled Labour Rate is €6 per hour and each product takes 4.5 hours to make. The total charge for Skilled Labour will be... *
10 points
Q5. A Production Budget shows us... *
10 points
Q6. To calculate our Sales figure for the Trading Account, we need to... *
10 points
Q7. Opening Stocks of Products 1&2 were 5,000 units and 8,000 units respectively. If all stocks are to be increased by 20% from their opening levels by the end of the year, what will our Closing Stock in units be? *
10 points
Q8. If our stock is valued using the 'FIFO' method, what does this stand for? *
10 points
Q9. Which of the following factors would a business have given most consideration to, before arriving at their predicted sales figure for the year? *
10 points