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