When an electrical circuit is capable of conducting current.
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<u>Solution and Explanation:</u>
The Journal Entries in the books of Brock's water enterprise is as follows :-
Date Particulars and details Debit($) Credit($)
Jan 5, 2018 Intangible Assets - Lease 905861
Lease Payable 905861
(Being Record the Lease)
Jan 5, 2018 Lease Payable 125000
Cash 125000
(Being Record Down Payment)
Dec 31, 2018 Amortization Expenses ($905861divide 10) 90586
Accumulated Amortization 90586
(Being Record the amortization)
Jan 5, 2019 Lease Payable 62531
Interest Expenses 62469
Cash 125000
(Being Record the Second Lease Payment)
Production budgets are used by manufacturers to determine the quantity of product units that will be produced. Based on the predicted sales, the production budget is chosen.
Regarding projected inventory levels, it is modified in accordance with the company's inventory policy. A manufacturer creates cost budgets for the direct materials, direct labour, and overhead expenses needed for manufacturing based on the production budget.
The company's inventory policy should be kept in mind while creating a production budget. The production budget is built on the sales budget, with changes made for starting and ending inventories.
The company's inventory management strategy affects the production budget as well. Depending on the company's strategic outlook, inventories may be increased or decreased.
For the given question, the production budget is prepared and attached in the form of an image.
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