Edward Company provided the following inventory data for the month of April 2021: Unit Unit Cost P520 Apr. 01 Balance 10 Purchase 600 1,600 450 550 580 28 Purchase The company applied periodic system and based on the additional information given, the ending inventory for the month was 850 units. Compute for the cost of ending inventory under FIFO method. a. P481,000 b. P480,250 c. P467,500 d. P493,000 Compute for the cost of ending inventory under weighted average method. a. P476,155.42 b. P472,822.02 c. P466,056.60 d. P460,010.23 Compute for the cost of goods sold under weighted average method. a. P984,019.20 b. P986,943.40 c. P980,910.30 d. P978,942.10

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A:

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A: a.

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A:

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Production Budget

A budget can be defined as a financial plan designed by an undertaking for a definite period in the future that can contribute towards enhancing the financial success of the business undertaking. It is used to estimate the revenue and expenses. The budget generally takes into account both current and future income and expenses.