A bulldozer was bought for P 0.50M and have an estimated useful life of 10 years after which it will have a scrap value of PO.05M. Repair and maintenance is placed at P 35T annually, while cost for fuel, oil, lubricant and operator plus helper will be P 12T monthly. Determine the following: What is the annual cost using the straight line method for computing depreciation when the minimum attractive rate of return is 8%?

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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.