2. LEARNING OBJECTIVES:
LO 4: Compute the costs of production.
(TLE_AFFP7/8MC-IVe-4)
Follow the standard procedures in computing
for production costs
Validate the computed costs of production
according to enterprise production
requirements.
3. IMPORTANCE OF RECORDING AND DOCUMENTING
PRODUCTION INPUT
1. It gives us a reference data on the materials used
together with their correct magnitude.
2. It determines the economic viability of the product.
3. Records serve as a basis for planning.
4. Records greatly help in making right decisions.
4. Steps in recording and documenting
production input are as follows:
First, weigh all materials and ingredients
needed.
5. Second, make a necessary listing in your
notebook of all the materials and ingredients
used. It is important to note how much or
how many. This is what we call recording or
documentation.
Third, follow the correct format in
documenting and recording.