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Systems Design: Job-Order Costing 2/16/04

Chapter 3. Systems Design: Job-Order Costing 2/16/04. Types of Costing Systems Used to Determine Product Costs. Process Costing. Job-order Costing. Chapter 4. Banyak produk yang berbeda dalam tiap periode . Produk dibuat berdasarkan pesanan .

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Systems Design: Job-Order Costing 2/16/04

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  1. Chapter 3 Systems Design: Job-Order Costing2/16/04

  2. Types of Costing Systems Used to Determine Product Costs ProcessCosting Job-orderCosting Chapter 4 • Banyakproduk yang berbedadalamtiapperiode. • Produkdibuatberdasarkanpesanan. • Biayadilacakataudialokasikanketiappesanan. • Catatanbiayaharusdibuatdenganbaikuntuktiapprodukataupekerjaan.

  3. Job Order Costing System ProcessCosting Job-orderCosting • Typical job order cost applications: • Special-order printing • Building construction • Also used in the service industry • Hospitals • Law firms

  4. Process Cost System • Perusahaan membuat banyak unit yang sama dalam periode yang panjang • Examples: orange juice concentrate, paper, mixing and bottling beverages, gasoline. • Biaya diakumulasikan ke tiap departemen • Total biaya dibagi dengan jumlah unit yang diproduksi untuk memperoleh biaya per unit

  5. Quick Check  Which of the following companies would be likely to use job-order costing rather than process costing? a. Scott Paper Company for Kleenex. b. Architects. c. Heinz for ketchup. d. Caterer for a wedding reception. e. Builder of commercial fishing vessels.

  6. Directmaterial Traced directly to each job Traced directly to each job Direct labor Job-Order Costing Manufacturingoverhead (OH) Applied to eachjob using apredeterminedrate The Job

  7. Sequence of Events in a Job-Order Costing System Membebankanbiayabahanbakudantenagakerjaketiapperkerjaan yang dilakukan. Direct Materials Job No. 1 Direct Labor Job No. 2 Manufacturing Overhead Job No. 3

  8. Sequence of Events in a Job-Order Costing System Direct Materials Tetapkannilai overhead denganpredeter-mined rate. Job No. 1 Direct Labor Job No. 2 Manufacturing Overhead Job No. 3

  9. Let’s investigate Job-Order Cost Accounting The primary document for tracking the costs associated with a given job is the job cost sheet.

  10. PearCo Job Cost Sheet Job Number A - 143 Date Initiated 3-4-01 Date Completed Department B3 Units Completed Item Wooden cargo crate Direct Materials Direct Labor Manufacturing Overhead Req. No. Amount Ticket Hours Amount Hours Rate Amount Cost Summary Units Shipped Direct Materials Date Number Balance Direct Labor Manufacturing Overhead Total Cost Unit Product Cost Job-Order Cost Accounting

  11. PearCo Job Cost Sheet Job Number A - 143 Date Initiated 3-4-01 Date Completed Department B3 Units Completed Materials requisition form digunakan untuk menentukan bahan baku yang digunakan di tiap pekerjaan. Item Wooden cargo crate Direct Materials Direct Labor Manufacturing Overhead Req. No. Amount Ticket Hours Amount Hours Rate Amount Cost Summary Units Shipped Direct Materials Date Number Balance Direct Labor Let’s see one Manufacturing Overhead Total Cost Unit Product Cost Job-Order Cost Accounting

  12. Will E. Delite Materials Requisition Form

  13. Materials Requisition Form Cost of material is charged to job A-143. Type, quantity, and total cost of material charged to job A-143. Will E. Delite

  14. Job-Order Cost Accounting

  15. Pekerja menggunakan time tickets untuk mencatat waktu untuk menyelesaikan tiap pesanan . Let’s see one Job-Order Cost Accounting

  16. Employee Time Ticket

  17. Job-Order Cost Accounting

  18. Applymanufacturing overhead to jobs using apredetermined overhead rate of $4 per direct labor hour (DLH). Let’s do it Job-Order Cost Accounting

  19. Job-Order Cost Accounting

  20. Estimated total manufacturingoverhead cost for the coming period POHR = Estimated total units in theallocation base for the coming period Application of Manufacturing Overhead The predetermined overhead rate (POHR) digunakan untuk membebankan overhead pada pekerjaan yang ditentukan sebelum pekerjaan itu dimulai. Idialnya, dasarpengalokasianbiayaadalahpemicubiayadari overhead.

  21. Overhead applied = POHR × Actual activity Application of Manufacturing Overhead Berdasarkanpadaperkiraan,danditetapkansebelumawalperiodebegins. Jumlahaktualdariallocation baseseperti unit ygdiproduksi, jam kerjakaryawan, atau jam kerjamesinygterjadidalamsatuperiode.

  22. Overhead applied = POHR × Actual activity Recall the wooden crate example where: Overhead applied = $4 per DLH × 8 DLH = $32 Application of Manufacturing Overhead

  23. The Need for a Predetermined Manufacturing Overhead Rate Penggunaan predetermined rate memungkinkan untuk melakukan estimasi biaya total diawal. Actual overhead dalam satu periode tidak dapat diketahui hingga akhir periode $

  24. Overhead Application Example PearCo menerapkan overhead berdasarkan direct labor hours. Totalestimated overhead dlm satu th $640,000. Totalestimatedlabor cost adalah $1,400,000 dan total estimated labor hours adalah 160,000.Berapa Pear Co.’s predetermined overhead rate per haurs(jam)?

  25. Estimated total manufacturingoverhead cost for the coming period POHR = Estimated total units in theallocation base for the coming period $640,000 POHR = 160,000 direct labor hours (DLH) Overhead Application Example POHR = $4.00 per DLH For each direct labor hour worked on a job, $4.00 of factory overhead will be applied to the job.

  26. Overhead Application Example What amount of overhead willPearCo apply to Job X-32?

  27. Overhead Application Example

  28. Quick Check  Job WR53 at NW Fab, Inc. required $200 of direct materials and 10 direct labor hours at $15 per hour. Estimated total overhead for the year was $760,000 and estimated direct labor hours were 20,000. What would be recorded as the cost of job WR53? a. $200. b. $350. c. $380. d. $730.

  29. Quick Check  Job WR53 at NW Fab, Inc. required $200 of direct materials and 10 direct labor hours at $15 per hour. Estimated total overhead for the year was $760,000 and estimated direct labor hours were 19,000. What would be recorded as the cost of job WR53? a. $200. b. $350. c. $750. d. $730.

  30. Allocation Base • Cost Driver adalah faktor yang secara langsung menyebabkan biaya overhead muncul • Cost Driver harus merupakan hal umum untuk semua perusahaan jasa dan produksi. • Yang termasuk Cost Drivers adalah machine-hours, direct labor, computer time, direct material cost, etc. • Penentuan Cost Drivers yang tepat merupakan hal yang penting untuk kelayakan alokasi overhead

  31. Let’s summarize the document flow in a job-order costing system. Job-Order CostingDocument Flow Summary

  32. Direct materials Indirect materials Job-Order CostingDocument Flow Summary Materials usedmay be eitherdirect orindirect. Job Cost Sheets MaterialsRequisition Manufacturing Overhead Account

  33. Direct Labor Indirect Labor Job-Order CostingDocument Flow Summary An employee’stime may be eitherdirect or indirect. Job Cost Sheets Employee Time Ticket Manufacturing Overhead Account

  34. IndirectLabor AppliedOverhead IndirectMaterial Job-Order CostingDocument Flow Summary EmployeeTime Ticket OtherActual OHCharges Manufacturing Overhead Account Job Cost Sheets MaterialsRequisition

  35. Let’s examine the cost flows in a job-order costing system.. Job-Order System Cost Flows

  36. Job-Order System Cost Flows Raw Materials Work in Process(Job Cost Sheet) • Direct Materials • Material Purchases • Direct Materials • Indirect Materials Mfg. Overhead Actual Applied • Indirect Materials

  37. Job-Order System Cost Flows Work in Process(Job Cost Sheet) Salaries and Wages Payable • Direct Labor • Direct Materials • IndirectLabor • Direct Labor • Overhead Applied Mfg. Overhead Actual Applied If actual and applied manufacturing overheadare not equal, a year-end adjustment is required. • Indirect Materials • OverheadApplied to Work inProcess • IndirectLabor, All Other

  38. Job-Order System Cost Flows Work in Process(Job Cost Sheet) Finished Goods • Cost ofGoodsMfd. • Cost ofGoodsSold • Direct Materials • Cost ofGoodsMfd. • Direct Labor • Overhead Applied Cost of Goods Sold • Cost ofGoodsSold

  39. Let’s return to PearCo and see what we will do if actual and applied overhead are not equal. Job-Order System Cost Flows

  40. PearCo hasoverappliedoverhead for the yearby $30,000. What willPearCo do? Overhead Application Example PearCo’s actual overhead for the year was $650,000 for a total of 170,000 direct labor hours. How much total overhead was applied to PearCo’s jobs during the year? Use PearCo’s predetermined overhead rate of $4.00 per direct labor hour. SOLUTION Applied Overhead = POHR × Actual Direct Labor Hours Applied Overhead = $4.00 per DLH × 170,000 DLH =$680,000

  41. PearCo’s Method $30,000 may beclosed directly to cost of goods sold. Cost of Goods Sold Overapplied and Underapplied Manufacturing Overhead $30,000may be allocatedto these accounts. OR Work inProcess FinishedGoods Cost of Goods Sold

  42. Overapplied and Underapplied Manufacturing Overhead PearCo’sMfg. Overhead PearCo’s Costof Goods Sold Unadjusted Balance Actualoverheadcosts $650,000 OverheadAppliedto jobs $680,000 $30,000 $30,000 AdjustedBalance $30,000 overapplied

  43. Quick Check  What effect will the adjustment of over-applied overhead have on Pear Co’s cost of goods sold? a. Cost of goods sold will increase. b. Cost of goods sold will be unaffected. c. Cost of goods sold will decrease.

  44. Quick Check  What effect will the overapplied overhead have on PearCo’s net operating income? a. Net operating income will increase. b. Net operating income will be unaffected. c. Net operating income will decrease.

  45. If Over/Under significant,Allocate Between Accounts • Determine the amount of overhead applied to WIP, Finished Goods and COGS • Calculate the % of total Overhead applied to each account • Multiply the Over/Under amount times the %’s and allocate to each account • See example on page 115

  46. Quick Check  Tiger, Inc. had actual manufacturing overhead costs of $1,210,000 and a predetermined overhead rate of $4.00 per machine hour. Tiger, Inc. worked 290,000 machine hours during the period. Tiger’s manufacturing overhead is a. $50,000 overapplied.b. $50,000 underapplied.c. $60,000 overapplied.d. $60,000 underapplied. Overhead Applied $4.00 per hour × 290,000 hours = $1,160,000 Underapplied Overhead $1,210,000 - $1,160,000 = $50,000

  47. End of Chapter 3

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