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COST ACCOUNTING SYSTEMS
Cost accounting involves The measuring The recording, and The reporting of product costs
Consists of the various manufacturing costs that are fully integrated into the general ledger system.
An important feature is the use of a perpetual inventory system to provide
immediate, up-to-date information on the cost of a product.
a. Job order cost system
Provides a separate record for the cost of each quantity of product that passes through the factory
b. Process cost system
System in which costs are accumulated for each of the departments or processes within the factory
Costs are assigned to each job or batch
A job may be for a specific order or
inventory
A key feature:
Each job or batch has its own distinguishing characteristics
The objective: to compute the cost per job
Measures costs for each job completed - not for set time periods
Job Order Cost System
Process Cost SystemUsed when a large volume of similar
products are manufactured. Cereal Automobiles Compact Discs Paint
Cost are accumulated for a specific time period (a week or a month)
Costs are assigned to departments or processes for a set period of time.
JOB ORDER COST FLOWS
The cost flow parallels the physical flow of the materials as they are converted into finished goods.
Manufacturing costs are assigned to Work in Process.
Cost of completed jobs is transferred to Finished Goods Inventory.
When units are sold, the cost is transferred to Cost of Goods Sold.
Overview of Job Order CostingOverview of Job Order Costing
Product Costs
Costs & Costs & ExpensesExpenses Balance
Sheet
DirectLabor
DirectLaborDirectLabor
DirectLabor
Factory Overhead
Factory OverheadFactory Overhea
d
Factory Overhea
d FinishedGoods
Inventory
FinishedGoods
Inventory
Cost of goods manufactured
Work inProcessInventor
y
Work inProcessInventor
y
Materials
Inventory
Materials
Inventory
Materials
Purchases
Materials
Purchases
Cost of
Goods Sold
Cost ofGoods Sold
Product Costs
Period Costs
Costs & Costs & ExpensesExpenses Balance
Sheet
DirectLabor
DirectLaborDirectLabor
DirectLabor
Factory Overhead
Factory OverheadFactory Overhea
d
Factory Overhea
d FinishedGoods
Inventory
FinishedGoods
Inventory
Work inProcessInventor
y
Work inProcessInventor
yIncome Statement
Selling andAdministrati
ve
Selling andAdministrati
ve
Selling andAdministrati
ve
Selling andAdministrati
ve
Period costs flow directly to
the income statement
Period costs flow directly to
the income statement
Overview of Job Order CostingOverview of Job Order Costing
Materials
Inventory
Materials
Inventory
Materials
Purchases
Materials
Purchases
CHARACTERISTICS of PROCESS COSTING
• Homogeneous units pass through a series of similar processes.
• Each unit in each process receives a similar dose of manufacturing costs.
• Manufacturing costs are accumulated for a process for a given period of time
CHARACTERISTICS of PROCESS COSTING (continued)
• There is a work in process account for each process.
• Manufacturing cost flows and the associated journal entries are generally similar to job-order costing.
• The departmental production report is the key document for tracking manufacturing activity and costs.
• Unit costs are computed by dividing the departmental costs of the period by the output for the period.
PROCESS COSTING COST FLOW
Direct MaterialsDirect Labor
Applied Overhead
Picking Encapsulating Bottling
Finished Goods
COMPARISON of JOB-ORDER andPROCESS COSTING
Job-Order Costing Process Costing1. Wide variety of distinct 1. Homogeneous products
products
2. Cost accumulated by job2. Costs accumulated byprocess or department
3. Unit cost computed by 3. Unit cost computed bydividing total job costs dividing
process costs of by units produced on that the period by the units
job produced in the period
BASICS of OPERATION COSTING
Operation costing is a blend of job and process costing procedures applied to batches of homogeneous products. This costing system uses job-order procedures to assign materials costs to batches and process procedures to assign conversion costs.Work orders are used to collect production costs for each batch.
METODE PENENTUAN BIAYA PRODUKSI
FULL COSTINGMerupakan metode penentuan kos produksi yang memperhitungkan semua unsur biaya produksi ke dalam kos produksi ditambah biaya non produksi
BBB + BTKL + BOP Fix + BOP Var
Kos ProduksiB. Adm Umum + B. Pemasaran
+Kos Non Produksi
VARIABLE COSTING Merupakan metode penentuan kos produksi yang hanya memperhitungkan biaya produksi yang berperilaku variabel kedalam kos produksi
BBB
BTKL
BOP VAR
B. AD UMVAR
B. MARKVAR
BOP FIX
B. AD UMFIX
B. MARKFIX
METODE PENENTUAN BIAYA PRODUKSI
Contoh Isi Laporan Kos Produksi
Sediaan tegel dalam proses, 1 JanuariPemakaian semen dan pasir: Sediaan semen dan pasir, 1 Januari Pembelian semen dan pasir Bahan baku tersedia diproses Sediaan semen dan pasir, 31 Desember Bahan baku yg dipakaiTenaga kerja langsungOverhead pabrikGaji pengawas produksiDepresiasi bangungan-PabrikDepresiasi mesin cetak dan presPemakaian bahan penolongListrik dan airAsuransi-Pabrik Kos produksi masuk prosesSediaan tegel dalam proses, 31 Desember Kos barang manufakturan
Rp 4.200.00013.400.000
Rp17.600.0003.800.000
Rp 2.140.000850.000
1.500.000840.000357.000152.000235.000
Rp 2.450.000
13.800.0007.490.000
6.074.000Rp29.814.000
2.100.000Rp27.714.000
Perusahaan Tegel Cap GAJAHLampiran A: Laporan Kos Produksi
untuk tahun berakhir 31 Desember 2001
FINANCIAL STATEMENTS for MANUFACTURING COMPANIES
MaterialsInventory
FinishedGoods
Inventory
Sales Revenue
Cost ofGoods Sold
INCOME STATEMENT
Operating Expenses
InventoriableCosts
BALANCE SHEET
equals Operating Income
whensalesoccur
deduct
equals Gross Margindeduct
Work inProcess
Inventory
PeriodCosts
INCOME STATEMENT
The income statement for a manufacturer is similar to that of a
merchandiser except for the cost of goods sold section.
Manufacturing Company Example
The data of Kendall Manufacturing Company:
• Beginning and ending work-in-process inventories were $20,000 and $18,000.
• Direct materials used were $70,000.• Direct labor was $100,000.• Manufacturing overhead incurred was
$150,000.
• What is the cost of goods manufactured?
Beginning work in process $ 20,000Direct labor $100,000Direct materials 70,000Mfg. overhead 150,000 320,000Ending work in process (18,000)Cost of goods manufactured $322,000
Manufacturing Company Example
• Kendall Manufacturing Company’s beginning finished goods inventory was $60,000 and its ending finished goods inventory was $55,000.–How much is the cost of goods sold?
Manufacturing Company Example
Beg. finished goods inventory $ 60,000+ Cost of goods manufactured 322,000= Cost of goods available for sale$382,000– Ending finished goods 55,000= Cost of goods sold$327,000
Manufacturing Company Example
Manufacturing Company Example
• Kendall Manufacturing Company had sales of $627,000 for the period.–How much is the gross margin?
Sales $627,000– Cost of goods sold 327,000= Gross margin $300,000
Manufacturing Company Example
• Kendall Manufacturing Company had operating expenses as follows:
• $80,000 Sales salaries 10,000 Delivery expense
30,000 Administrative expenses $120,000 Total–What is Kendall’s operating income?
Manufacturing Company Example
Gross margin$300,000– Operating expenses 120,000= Operating income$180,000