LS2531: (a) What is Production Budget? What factors are taken into consideration while preparing a Production Budget? Why are separate budgets prepared for each of the elements of production costs?

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Question: (a) What is Production Budget? What factors are taken into consideration while preparing a Production Budget? Why are separate budgets prepared for each of the elements of production costs?
Explain.

(b)What is a Rolling Budget? Why is it prepared? Explain the procedure of its preparation.

 


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