What is a production cost budget?

What is a production cost budget?
Businesses that produce goods, regardless of type, need to make a production cost statement for use in determining the finished production cost of each accounting period. In this article, we will talk about the loss of the production cost budget.
production cost budget or in English, use the word Manufacturing Cost Statement
Is the name used to refer to the budget that is intended to cover the cost of the tree that has been paid in the production of all products. and what should be known later as a component of production costs, which are
Direct Material
Of course, in the production of products, there must be main raw materials to produce products. But it's not all raw materials in the production process. will be costly raw materials And it is only important that it is counted as direct raw material. The price ratio of this section is high.
Direct Labor
In the production process, labor is required to create this part, so it is a direct expense in the production of finished goods that the entity pays directly to the employees in the process. But it will not be included in wages that do not produce the product directly.
Overhead production costs
It is the cost of using other parts in the production process besides direct raw materials. direct labor that the business has to pay, such as indirect materials Miscellaneous expenses in the factory, etc.
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