Cost System and Cost Accumulation - E

CHAPTER 4
COST SYSTEM & COST
ACCUMULATION
Learning Objectives
Present the flow of manufacturing costs
using general journal entries and T
accounts
Prepare financial statements and a
statement of COGS for a manufacturer
Name different kind of cost systems etc
Distinguish between job order and process
costing etc
FLOW OF COSTS IN
MANUFACTURING ENTERPRISE
Aliran biaya dalam perusahaan tidak menambah
siklus akuntansi dalam akuntansi keuangan.
Akuntansi biaya berkaitan dengan pencatatan
dan pengukuran elemen pada saat mengalir
melalui proses produksi.
General ledger untuk proses produksi adalah
Materials, Payroll, FOH control, Work in
Process, Finished Goods, COGS
a)
b)
c)
d)
e)
f)
g)
h)
i)
j)
k)
l)
m)
n)
o)
p)
q)
r)
Payments on account
Expenses paid in advance
Purchases and improvements of long-lived manufacturing assets
Various payments for resources
Payments of wages and salaries
Purchases of raw materials and factory supplies on credit
Recording payroll
Issuing factory supplies (indirect materials) to production
Incurring various indirect manufacturing costs on credit
Manufacturing portion of any prepayments that have expired
Manufacturing portion of depreciation
Manufacturing portion of various other resources used
Charging all types of indirect labor cost to production
Issuing direct materials to production
Charging manufacturing overhead costs to production
Charging direct labor cost to production
Charging cost of completed units to the finished goods account
Charging cost of sold units to the cost of goods sold account
Source Documents Involving
Manufacturing Costs
Cost
Examples of Source Documents
Materials
Purchase invoices, materials requisitions
Labor
Time tickets or time sheets, clock cards
Factory Overhead
Vendors’ invoices, utility bills, depreciation shedules
REPORTING THE RESULTS
OF OPERATIONS
Sebagaimana laporan keuangan konvensional
maka laporan keuangan perusahaan manufaktur
adalah:
1. Income Statement
2. Cost of Goods Sold Statement, schedule 1
3. Balance Sheet
4. Cash flow Statement
See : Exhibit 4-2, 4-3, 4-4 page 4-8, 4-9, 4-10
COGS STATEMENT
Manufactured cost = Direct Materials consumed
+ Direct Labor + FOH
FOH merupakan akun untuk menampung
semua Indirect Material/supplies Cost + Indirect
Labor Cost + Other FOH Cost yang berkaitan
dengan factory (pabrik)
Manufactured cost akan sama dengan COGM
dan COGS, jika tidak ada persediaan awal dan
akhir untuk WIP dan Finished Goods
COST SYSTEM
Macam-macam cost system :
1. Actual cost system atau Historical cost system
Cost dikumpulkan pada saat terjadinya,
namun pelaporannya ditunda pada akhir
periode akuntansi
2. Standard cost system
Standard cost digunakan berdasarkan biaya
yang ditetapkan terdahulu. Actual cost juga
dicatat dan variance dimasukan dalam akun
terpisah.
COST SYSTEM (continue)
3. Full Absorption Costing. Biaya produksi
dikumpulkan baik yang bersifat tetap maupun
variabel.
4. Direct Costing/Variable Costing. Biaya yang
termasuk biaya produksi hanya yang bersifat
variabel saja
see : figure 4-3, page 4-12
A Classification of Cost Systems
Manufacturing Cost Elements Allocated to Production →
Costs Measured at ↓
Historical Amounts
Historical Amounts for
Direct Material & Direct
Labor, Predetermined
Amount for Overhead
Predetermined
Amounts
Direct Material,
Direct Labor
Direct Material,
Direct Labor,
Variable Overhead
Direct Material,
Direct Labor,
Variable Overhead,
Fixed Overhead
(1)
Actual Prime
Costing
(4)
Actual Direct
Costing
(7)
Actual Absorption
Costing
(2)
Actual Prime
Costing
(5)
A Hybrid Direct
Costing
(8)
A Hybrid Absorption
Costing
(3)
Standard Prime
Costing
(6)
Standard Direct
Costing
(9)
Standard
Absorption Costing
COST ACCUMULATION
•
•
•
•
Ke 4 Cost System tersebut dapat digunakan
dalam CostAccumulation, yang meliputi :
1. JOB ORDER COSTING
Biaya diakumulasikan untuk setiap batch, lot,
job order
Produk bersifat heterogen
Akun WIP dibantu subsidiary ledger
Dapat ditentukan profit per job order
Cost Accumulation (continue)
2. PROCESS COSTING
. Biaya diakumulasi berdasarkan proses
produksi atau departemen.
. Produk bersifat homogen/uniform
. Biaya per unit dihitung dengan cara
membagikan antara jumlah biaya dengan
jumlah unit ekuivalen.
Cost accumulation (continue)
3. Blended Methods
Direct material cost diakumulasi
berdasarkan job order costing dan
convertion cost diakumulasikan
berdasarkan process costing.
Cost accumulation (continue)
4. Backflush Costing
Dalam kasus proses produksi yang sangat
cepat, yang mengakibatkan hasil produksi
mendahului pencatatan akuntansi maka
melakukan backflush dapat dijadikan
pilihan yang sangat penting. Backflushing
costing dianggap dapat menjawab
kekunoan kronologis pencatatan akuntansi
COMPARISON OFCOST
ACCUMULATION METHODS
1. Berbeda dengan metode Job Order,
Blended dan Process Costing, metode
Backflush tidak mengenal adanya
Work in Process.
2. Masing-masing metode menunjukkan
perbedaan objek biaya yang menjadi
tujuan penelusuran biaya.