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Chapter 2 : Cost Term and Classification

This is accounting records of Surgicaal Products, Inc Raw Material Purchases production activities Direct Labor Indirect Labor Selling & Administrative salaries Building depreciation * Other selling & Administratives expenses Other factory costs Sales revenue ($260 per unit) $350.000 $508.000 $218.000 $266.000 $160.000 $380.000 $688.000 2.990.000

Note : * 75% of the companys building was devoted to production activities, the remaining 25% was used for selling & admininstrative functions. Januari 1 Desember 31

Inventory data Raw Material Work in process Finished goods*

$31.600 $71.400 $222.220

$36.400 $124.200 $195.800

Note : * January 1 & Desember 31 finished-goods inventory consisted of 1.350 units and 1.190 units, respectively. 1. Calculate Surgical Products` manufacturing overhead for the year Indirect labor. Building depreciation ($160,000 x 75%).. Other factory costs.. Total... $ 218,000 120,000 688,000 $1,026,000

2. Calculate Surgical Products` cost of goods manufactured Direct material: Raw-material inventory, Jan. 1 Add: Purchases of raw material.. Raw material available for use. Deduct: Raw-material inventory, Dec. 31. Raw material used.. Direct labor.. Manufacturing overhead.. Total manufacturing costs.. Add: Work-in-process inventory, Jan. 1. Subtotal.. Deduct: Work-in-process inventory, Dec. 31. Cost of goods manufactured.. Note : cost of goods manufactured = harga pokok produksi ketika menghitung cost of goods manufactured (harga pokok produksi) => hanya berbicara tentang raw material dan work in process $ 31,600 350,000 $381,600 36,400 $ 345,200 508,000 1,026,000 $1,879,200 71,400 $1,950,600 124,200 $1,826,400

3. Compute the company`s cost of gods sold Finished-goods inventory, Jan. 1.. Add: Cost of goods manufactured Cost of goods available for sale. Deduct: Finished-goods inventory, Dec. 31 Cost of goods sold. $ 222,200 1,826,400 $2,048,600 195,800 $1,852,800

Note : cost of goods sold = harga pokok penjualan ketika menghitung cost of goods sold (harga pokok penjualan) => hanya menghitung finished good (barang sudah jadi yang siap untuk dijual oleh karena tidak lagi menghitung raw material dan work in proses) saja

Chapter 3 : Job Order Costing


Estimates Biloxi Billiards Company current year budget. Total budgeted manufacturing overhead Total budgeted machine hours Actual manufacturing overhead $306.000 51.000 38.000

During January, the firm began the following production jobs MO7 T28 B19 1.200 machine hours 3.000 machine hours 1.800 machine hours

Note : On January, there was no balances in work in process and finished goods. During January, job number MO7 was sold, T28 was completed and B19 was work in process. 1. Compute the company predetermined overhead rate for the current year

Predetermined overhead rate

budgeted manufacturing overhead budgeted machine hours $306,000 $6 per machinehour 51,000

2. How much manufacturing overhead was applied to production during January Applied manufacturing overhead = machine hours used x predetermined overhead rate $36,000 = 6,000 hrs. x $6 per hr

Note : Applied manufacturing overhead = overhead yang dibebankan

3. Calculated the overhead overapplied or underapplied for January Actual manufaturing overhead = $ 38.000 Applied manufacturing overhead = $ 36.000 Applied manufacturing overhead < Actual mufacturing oeverhead ======= UNDERAPPLIED OVERHEAD $2.000 =========

Chapter 4 : Proses Costing


Jarvene Corporation uses FIFO method in its process costing system. Data for the Assembly Deparment for May appear below : Work in process Cost added during May Equivalent units of production Materials $20.000 193.320 27.000 Labor $ 6.000 62.000 25.000 Overhead $ 28.000 310.000 25.000

1. compute the total cost per equivalent unit for materials, labor and overhead Cost per equivalent unit Work in process, May 1 Cost added during May Total cost to be accounted for Equivalent unit of production Material $ 20.000 $ 193.320 $393.320 27.000 Labor $6.000 $ 62.000 $ 68.000 25.000 Overhead $ 28.000 $ 310.000 $ 590.000 25.000

Cost per equivalent unit

Cost per equivalent unit for material = Cost per equivalent unit for labor =

= $ 14,57 = $ 2,72 = $ 23,6

Cost per equivalent unit for overhead =

2. compute the total cost per equivalent whole unit Total cost per equivalent whole unit = Cost per equivalent unit for material + labor + overhead = $ 14,47 + $ 2,72 + $ 23,6 = $ 40,89

Chapter 5 : Cost Behaviour (tidak masuk UTS)

Chapter 6 : Cost Volume Profit


Lindon Company manufactures and sells a specialized cordless telephone for high electromagnetic radition environment. The company`s contribution format income statement for the most recent year is given below : Total Sales (20.000unit) Less variable expenses Contribution margin Less fixed expenses Net operating income $2.000.000 800.000 1.200.000 600.000 $ 600.000 Per unit $80 60 $20 Percent of sales 100% ? ?

Management is an axious to improve the company profit performance and has asked for an analysis of a number of items. 1. compute the company CM ratio and variable expense ratio contibution margin rasio = = = 25%

variable expenses rasio = = = 75%

2. compute the company break even point in both units and sales dollars Sales = variable expenses + fixed expences + profit $80Q = $60Q + $600.000 + $0 $20Q = $600.000 Q = Q = 30.000 unit (BEP in unit)

Price per unit = $80 (dari soal) BEP = Q x price per unit = 30.000 unit x $80 = $2.400.000 (BEP in dollars)

Chapter 7 : Variable Costing


Chuck Wagon Ltd manufactures and sells a single product. The following cost were incurred during the company first year of operation : Variable costs per unit: Manufacturing : Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs per year : Fixed manufacturing overhead Fixed selling and administrative

10 15 5 7 $ 200.000 $ 150.000

During the year, the company produced 30.000 units and sold 20.000 units. The selling price of the company`s product is $ 65 per unit. Assume that the company uses the variable costing method : a. compute the unit product cost The unit product cost under variable costing would be: Direct materials ........................... $ 10 Direct labor ................................. 15

Variable manufacturing overhead .. 5 Unit product cost ......................... $ 30

b. prepare an income statement for the year Sales (20,000 units $ 65 per unit)........................................ $1,300,000 Less variable expenses: Variable cost of goods sold: Beginning inventory .......................... $ Add variable manufacturing costs (30,000 units $ 30 per unit)....... 900,000 Goods available for sale........................900,000 Less ending inventory (10,000 units $ 30 per unit) .........300,000 Variable cost of goods sold....................600,000 Variable selling expense (20,000 units $ 7 per unit) ........... 140,000 740,000 0

Contribution margin ................................................................. 560,000 Less fixed expenses: Fixed manufacturing overhead .................. 200,000 Fixed selling and administrative expense ... 150,000 350,000

Net operating income.............................................................$ 210,000

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