production budget formula

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5 Terms

1
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Sales budget

Quantity x Selling price

2
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Production budget

Budgeted sales units + closing stock finished goods - Opening stock finished goods

3
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Raw materials usage budget

Production budget x Materials required per product

4
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Raw materials purchases budget

R.M.U budget in units + Closing stock raw materials - Opening stock, raw materials x Price per Kg

5
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Direct labour budget

Production budget x Labour hours per unit x Labour rate per hour