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Presented by : Accounting Study Division MoJaKoe Akuntansi Biaya

UAS Semester Gasal 2012 / 2013

MOJAKOE AKUNTASI BIAYA

UAS AB 2012/2013 ACCOUNTING STUDY DIVISION

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Final Exam AKUNTANSI BIAYA 2012 / 2013

Question 1 : Process Costing With Spoilage ( 20% ) PT Spionase is an automotive spare part manufacturer specialized in producing back mirror for motorcycle. Each product is processed in three consecutive production departments which are : Cutting Department, Assembly Department and Finishing Department. All good units from cutting department will be transferred to Assembly Department. In Assembly Department, direct materials are added during stage 50% to 70% evenly. The inspection point is at 90% stage of production. Normal Spoilage rate is 5% of all good units which have passed the inspection. All good units will be transferred to Finishing Department. The company uses the weighted average method of process costing. Below is production and cost data recorded in Assembly Department during September 2012:

Item Quantity Prod .

Stage

(Rp)

Transferred In Transferred Out Conversion Cost

WIP Beginning 40.000 40% 140.000.000 0 68.920.000

Transferred In 110.000 426.700.000 727.800.000 1.388.792.000

Transferred Out 120.000

WIP Ending 20.000 75%

Spoilage 10.000

Required: 1. For each category, compute equivalent units in the Assembly Department (5%) 2. Summarize total Finishing Department Costs for September and Caluculate cost per equivalent units. (5%) 3. Assign total costs to good units completed, spoilage, and ending inventory (5%) 4. Prepare the journal entry to record transfer to Finishing Department and Spoilage (5%) Question 2: Joint Cost (25%) QueRy Bakery process pies into black forest pie, egg tart and fruit pie. During new year festive, the joint cost of processing the pies were Rp.4.200.000,00. There was no beginning or ending inventories for the season. Production and sales value information for the season is as follows:



Product Pieces Sales Value at Split Off Point

Separable Cost Selling Price

Black Forest Pie 1000 Rp 2.000,00 per piece for each empty pie

Rp 500 per piece Rp 5.000 per piece

Egg Tart 1500 Rp 1.000 per piece Rp 6.000 per piece

Fruit Pie 2000 Rp 2.000 per piece Rp 6.500 per piece

Required: 1. Determine the amount allocated to each product if the estimated net realizable value method is used, and compute the cost per case for each product. (20%) 2. Other than making the pie, QueRy also make many other types of bakery products. The company has not been pleased with its profit margin per product because it appears that the high value items have too few costs assigned to them, while the low value items have too many many costs assigned to them. In addition, QueRy’s manager found out that one of their primary products is the bread lines. While other products made by the company include cookies, by products such as bread pudding, and unused scrap products. As a student who just about to finish the cost accounting course, what may be the cost assignment problem if a key consideration is the value of the products being sold? (5%) Question 3 : Support Departmen Allocaton (15%) The Hobbits, Inc budget the following amount for its two support department: Accounting (AC) and Information System (IS) and two operating division: Movie Maker (MM) and Editing (ED). The Hobbits Inc apply dual rate method and production information during 2012 as follows: AC IS MM ED

Budgeted Usage

Accounting ( Direct Labor Hours ) -‐ 10% 60% 30%

Information System ( Computer Hours ) 5% -‐ 45% 50%

Actual Usage

Accounting ( Direct Labor Hours ) -‐ 20% 20% 60%

Information System ( Computer Hours ) 5% -‐ 66,5% 28,5%

Budgeted Fixed OH Costs before Allocations $360.000 $475.000

Actual Variable OH Costs before Allocations $200.000 $600.000



Required: What amount of support department cost of accounting and information system will be allocated to MM and ED using reciprocal method? Question 4: Revenue allocation, bundled products (10%) Greenview Resorts (GR) operates a four-‐star hotel with a championshop golf course. GR has a decentralized management structure, with three divisions: # Lodging ( rooms, conference facilities ) # Food ( restaurants and in-‐room service ) # Recreation ( golf course, tennis courts, swimming pool, etc ) Starting next month, GR will offer a two-‐day, two-‐person “getaway package” for $800. This deal includes the following As Priced Separately Two nights’ stay for two in an mountain-‐view room $ 600 ($ 300 per night) Two rounds of golf ( can be used by either guest ) $ 300 ($ 150 per round) Candlelight dinner for two at GR’s finest restaurant $ 100 ($ 50 per person) Total package value $ 1,000 Ms.Sheena, president of the recreation division, recently asked the CEO of GR how her division would share in the $800 revenue from the getaway package. The golf course was operating at 100% capacity. Currently, anyone booking the package was guaranteed access to the golf course. Ms. Sheena notes that every “getaway” booking would displace $300 of other gold bookings not related to the package. She emphasized that the high demand reflected the devotion of her team to keeping the golf course rated one of the “Best 10 Courses in Asia” by Golf Review. As an aside, she also noted that the lodging and food division had to turn away costumers during only “peak-‐season events such as the New Year’s period” Required: 1. using selling prices, allocate the $800 getaway-‐package revenue to the three divisions using:

a. the stand-‐alone revenue-‐allocation method (3%) b. the incremental revenue-‐allocation method (with recreation first, then lodging, and then

food)(3%) 2. which of the two methods is more suitable to be used for the above situation? Why? Question 5: Backflush Costing (10%) ChairMan manufactures office chairs. For December, there were no beginning inventories of direct materials and no beginning or ending work in process. The company implements JIT system. Conversion costs are the only indirect manufacturing cost category currently used. Journal entries are recorded when materials are purchased and when units are sold Conversion costs – December $ 90.000 Direct materials purchased – December $ 250.400 Units produced – December 80.000 units Units sold – December 75.000 units



Selling Price $ 10 each Required: 1. Journalize the purchase of materials in a JIT environment (3%) 2. Journalize the transaction when units are sold for the month (3%) 3. Explain benefits and limitations of just-‐in-‐time manufacturing system (4%) Question 6: Activity-‐Based Costing and Activity-‐Based Management (20%) 1. You are required to ecplain the Finance Director of your company about decision to carry out Activity Based Costing (ABC) in the company. In the explanation, you’re asked to describe:

a. benefit of implementing the ABC (5%) b. Limitations of implementing the Abc (5%)

2. Accounting Department of PT Basko ( a retail company in Padang ) has a budget abnout $500 million for implementing ABC system in the company. However, Finance manager rejected the proposal made by the Accounting Department. The manager gave two primary arguments on that proposal:

a. The Board would prefer to invest the $500 million for improving services to their customers such as by improving store layout of service quality

b. Shall the proposal accepted, the board and the manager still object how to measure the success rate of the new ABC system and its realtion to their customers’ satisfaction.

Required: Suppose that you are part of the Accounting Department team, give your arguments to the above two concerns. ,



ANSWER Question 1 1. Assembly Department

Flow of Production Equivalent Units

Physical Units TI DM CC

WIP beginning 40.000

Transferred in 110.000 To account for 150.000 Finished and transferred out 120.000

120.000

120.000

120.000

Normal Spoilage 6.000 6.000 6.000 5.400 Abnormal Spoilage 4.000 4.000 4.000 3.600

Ending Inventory 20.000 20.000 20.000 15.000 Total Equivalent Unit 150.000 150.000 150.000 144.000 2 & 3

Total Equivalent Units

Transferred In DM CC WIP Beginning 208.920.000 140.000.000 68.920.000

Total Cost Added 2.543.292.000 426.700.000 727.800.000 1.388.792.000 Total Cost to Acount for 2.752.212.000 566.700.000 727.800.000 1.457.712.000 2. Cost / Equivalent Units Cost incurred to date 566.700.000 727.800.000 1.457.712.000 Equivalent Unit 150.000 150.000 144.000 2. Cost per Equivalent Unit 3.778,00 4.852,00 10.123,00

3. Assignment of Cost -‐ Good units completed Cost before normal spoilage 2.250.360.000 453.360.000 582.240.000 1.214.760.000

Normal spoilage (6000) 112.518.000 22.668.000 29.112.000 54.664.200 Total Good units 2.356.804.200 476.028.000 611.352.000 1.269.424.200 Abnormal Spoilage 70.962.800 15.112.000 19.408.000 36.442.800

WIP (Ending) 324.445.000 75.560.000 97.040.000 151.845.000 2.752.212.000 566.700.000 727.800.000 1.457.712.000 4. Journal Entries To record transfer of good units to Assembly Department (D) Work In Process – Finishing 2.356.804.200,-‐ (C) Work In Process – Assembly 2.356.804.200,-‐



To record Abnormal Spoilage (D) Loss from Abnormal Spoilage 70.962.800,-‐ (C) Work In Process – Assembly 70.962.800,-‐ Question 2 1. Black Forest Pie Egg Tart Fruit Pie Total

Final Sales Value Rp 5.000.000 Rp 9.000.000 Rp 13.000.000 Rp 27.000.000

Deduct Separable Cost Rp 500.000 Rp 1.500.000 Rp 3.000.000 Rp 5.000.000

NRV at Split Off Point Rp 4.500.000 Rp 7.500.000 Rp 10.000.000 Rp 22.000.000

Weighting 0,2045 0,3409 0,4545

Joint Cost Allocated Rp 859.091 Rp 1.431.818 Rp 1.909.091 Rp 4.200.000

Cost per Case Rp 1.359 Rp 1.955 Rp 2.455 2. The first consideration is whether the company treats a product as a by-‐product or a product. For the most part, byproducts should not be assigned costs. The revenue from the byproducts should be used as either minor sale categories or else as offsets to processing costs. Second one is the method used to assign the costs. It is possible that some physical measure (weight) is being used, in which case the parts items and the byproducts may weigh as much as the primary product. It may be necessary to evaluate the various methods of allocation and select the one which management feels is best for decision making. Question 3 Fixed Cost Variable Cost AC = $360,000 + 0.05 IS AC = $200,000 + 0.05 IS IS = $475,000 + 0.1 AC IS = $600,000 + 0.20 AC AC = $385,678 AC = $232,323 IS = $513,568 IS = $646,465 AC IS MM ED

Fixed Costs $360,000 $475,000

Accounting

(0.1; 0.6; 0.3)

(385,678) 38,568 $231,407 $115,703

Information system

(0.05; 0.45; 0.5)

25,678 (513,568) 231,106 256,784

Fixed cost allocation $ 0 $ 0 $462,513 $372,487

Variable Costs $200,000 $600,000



Accounting

(0.2; 0.2; 0.6)

(232,323) 46,465 $46,465 $139,393

Information system

(0.05; 0.665; 0.285)

32,323 (646,465) 429,899 184,243

Variable cost allocation

$ 0 $ 0 $476,364 $323,636

Question 4

Product Selling Price

2 Nights for 2 Person Rp 600

2 Rounds of Golf Rp 300

Candle-‐Light Dinner for Two Rp 100

Total Rp 1.000

1a. Stand Alone -‐ Selling Price Method -‐> selling price / total X package price

Product Revenue Allocated

2 Nights for 2 Person Rp 480

2 Rounds of Golf Rp 240

Candle-‐Light Dinner for Two Rp 80

1b. Incremental Revenue

Product Revenue Allocated Cumulative Revenue Allocated

2 Rounds of Golf Rp 300 Rp 300

2 Nights 2 Person Rp 500 Rp 800

Candle-‐Light Dinner for Two -‐ Rp 800

2. The method that is more suitable to use in this case is the incremental revenue allocation since the golf course is prioritized because it is rated as one of the Best 10 Courses in Asia and it can be a benefit for the whole resort, so the resort has to firstly compensate the opportunity cost of the golf course. It is also stated that lodging and food division only has to turn away costumers during peak season. BUT since it will cause injustice for the Food Division if they don’t get any revenue, the rest of the revenue after allocating the 300 to the Golf Division has to be divided using the stand alone method as long as the allocated revenue still is higher than their respective variable cost.



Question 5 1. (D)Inventory: Raw and In-‐Process 250,400 (C)Accounts Payable Control 250,400 2. (D)Cost of Goods Sold 319,500 (C)Inventory: Raw and In-‐Process 234,750 (C)Conversion Costs Allocated 84,750 3. Benefits :

-‐ lower carrying cost of inventory -‐ heightened emphasis on improving qualitiy by eleminating the spesific cause of scrap, rework,

and waste -‐ lower manufacturing cycle times

Limitations : -‐ JIT success is varied from industry to industry Some industries are benefit more from JIT while

others do not. -‐ Need mutual trust between employer and employees -‐ JIT needs multiskilled workers and flexibility to change -‐ Production level JIT works best for medium to high range of production volume.

Question 6 Part 1: Four decisions for which ABC information is useful are:

1. pricing and product mix decisions, 2. cost reduction and process improvement decisions, 3. product design decisions, and 4. decisions for planning and managing activities.

The main costs and limitations of ABC are the measurements necessary to implement the systems. Even basic ABC systems require many calculations to determine costs of products and services. Activity-‐cost rates often need to be updated regularly. Very detailed ABC systems are costly to operate and difficult to understand. Sometimes the allocations necessary to calculate activity costs often result in activity-‐cost pools and quantities of cost-‐allocation bases being measured with error. When measurement errors are large, activity-‐cost information can be misleading. Part 2: (1) The accountant faces a difficult challenge. (2) The benefits of a better accounting system show up in improved decisions by managers. It is

important that the controller have the support of these managers when seeking increased investments in accounting systems.

(3) Statements made by these managers showing how their decisions will be improved by a better accounting system are the controller’s best arguments when seeking increased funding. For example, the new system will result in more accurate product costs which will influence pricing and product mix decisions. The new system can also be used to reduce product costs which will lower selling prices.

As a result, the customer will benefit from the new system.

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