Which one of the following journal entries is correct to for the issuance of direct materials to production in a job order costing system? Select one: . Materials (debit). Accounts payable (credit) O b. Work in progress (debit). Accounts payabie (credit) Oc Materials (debit), Accounts payable (credit) Od. Work in progress (debit). Materiais (credit)

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Q: The components of the conceptual framework ?

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.