Presenter Robby Adrian Joesoef. Costs that associated with the production function or activity processing raw materials into finished goods.

Slides:

Advertisements

Similar presentations

Schedule of Cost of Goods Manufactured

Advertisements

Chapter 2 Job Order Cost Systems.

Manufacturing Account

Basic Management Accounting Concepts Management Accounting: The Cornerstone for Business Decisions Copyright ©2006 by South-Western, a division of Thomson.

How to read a FINANCIAL REPORT

Manufacturing Accounting. Recall: –Assets are measured at full absorption cost Includes all costs of acquiring asset and putting in place –Expenses are.

© 1999 by Robert F. Halsey In this chapter, we will cover the four financial statements that are provided by companies to shareholders and other interested.

16-1 Copyright  Houghton Mifflin Company. All rights reserved. Chapter 16 Operating Costs and Cost Allocation, Including Activity-Based Costing Belverd.

Cost Accounting Allocation of Overhead MB-664 May 2009.

The Production Cycle Chapter 13.

19 Job Order Costing Accounting 26e C H A P T E R Warren Reeve Duchac

© 2010 Prentice Hall Business Publishing, College Accounting: A Practical Approach, 11e by Slater Manufacturing Accounting Chapter 25.

ACC3200 Chapter 2: Job Order Costing Job Order Costing.

Managerial Accounting

1. 2  Business which buy raw materials and convert these into finished products which then sold 3.

© The McGraw-Hill Companies, Inc., 2002 McGraw-Hill/Irwin Management Accounting: A Business Partner Chapter 16.

Manufacturing Accounts

Previous Lecturer Ratio analysis Working capital is the excess of current assets over current liabilities Current ratio measures the short-term debt- paying.

Manufacturing Accounts

SANDY SETYAWAN  Purchase and Sales System is still controlled manually.  The Company has a difficulty to estimate the cost of production.

Cost Concepts and Cost Allocation

PowerPointPresentation by PowerPoint Presentation by Gail B. Wright Professor of Accounting Bryant University © Copyright 2007 Thomson South-Western, a.

1 Managerial Accounting Concepts and Principles Managerial Accounting

Production, Marketing and Administrative costs Manufacturing companies convert materials into finished goods. There are two type of costs involved here:

£100 £500 £200 £1000 £750 £2000 £8000 £4000 £32,000 £16,000 £64,000 £250,000 £125,000 £1,000,000 £500,000 50:50 A. Trading Account The words Raw materials,

1 Manufacturing Account. 2 Production Cost Production cost = Prime cost / Direct cost + Factory overhead expenses / Indirect cost.

Production Planning Group 4 Claudia· David· Lisa· Shakeia· Vicky.

5.2 Costs and Revenues Chapter 31. Management Decisions and Cost Business decisions cannot be made without cost information. Why?  Profit or loss cannot.

Manufacturing Account LECTURE 2 Issah Hamdu Faculty of Business Management and Globalization Tel : (Ext 8403)

Chapter 17 Job Order Costing

© 2011 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license.

Cost Management.

Chapter 11 Product Costing in Service and Manufacturing Entities.

@ 2012, Cengage Learning Differential Analysis, Product Pricing, and Activity-Based Costing LO 1c – Make or Buy Decisions and Replace Equipment Decisions.

Accounting for Manufacturing Business Lecture 24.

Click to edit Master title style Click to edit Master text styles –Second level Third level –Fourth level »Fifth level 1 1 Managerial Accounting.

ALSARHANI YAHYA1 COST ACCOUNTING CH (1). ALSARHANI YAHYA2 DEFINITION OF COST ACCOUNTING It is to hard to get definitely the definition for the cost of.

Alex Socratis - Accounting Department Manufacturing Accounting.

Click to edit Master title style 1 Lesson Click to edit Master title style 2 Job Order Cost Systems 19.

Part Two The Basic Principle of Cost Accounting. Argument and discussion How do the resources flow in a typical firm? What is the differences among expenditure,

GOALS BUSINESS MATH© Thomson/South-WesternLesson 11.1Slide Manufacturing Costs Calculate prime cost and total manufacturing costs Distribute factory.

AC239 Unit 3 Chapter 18 Managerial Accounting Concepts and Principles.

3.2 Costs and Revenues Topic 3: Finance and Accounts.

ACC 561 Week 3 Assignment Practice Quiz To purchase this material click below link Assignment-Practice-Quiz.

Cost Analysis for Management Decision Making

Cost Analysis for Management Decision Making

Copyright © 2015 McGraw-Hill Education. All rights reserved

Tutorials week 49 Amsterdam Business School

Chapter 17 Job Order Costing

Introduction to Management Accounting

Introduction to Management Accounting

Chapter 3 Costing Systems: Job Order Costing

Operating Budgets: Manufacturing Budgets

Job-Order Costing Chapter 3.

Managerial Accounting Concepts and Principles

Financial Accounting II Lecture 12

Recording and Evaluating Conversion Process Activities

Manufacturing Accounts

An Introduction to Cost Terms and Purposes

Cost Accounting-I Recording System.

Cost Accounting-I Examples.

Chapter 17 Job Order Costing

Product Costing Session Five MBA 502B Managerial Accounting

Classification of Cost

An Introduction to Cost Terms and Purposes

Manufacturing Cost Elements 1. Cost Concepts Cost refers the amount of expenses spent to generate product or services. Cost refers expenditure that may.

An Introduction to Cost Terms and Purposes

An Introduction to Cost Terms and Purposes

Presentation transcript:

Presenter Robby Adrian Joesoef

Costs that associated with the production function or activity processing raw materials into finished goods.

Direct Material Cost Direct Labor Cost Overhead Cost, such as: Indirect Material Cost Indirect Labor Cost Depreciation and amortization of company fixed asset Repair and Maintenance of factory assets Cost of energy (electricity and water)

Cost of production were collected in each process with certain period and Cost of Goods Manufactured for one unit is calculated by dividing the total cost of production in particular process, during certain period, with the number of products that produced from that process during the period.

Determine the selling price Monitoring the production cost Calculate the profit or loss periodically Determine the cost of inventories of finished goods and goods in the process, presented in the balance form

The system can only cover calculation of the cost of materials based on Bill of Material Record of overhead cost, direct labor cost can not be processed by the system The system can not generate report that relating to calculation of Cost of Goods Manufactured

Costs incurred in the production process will be difficult to trace Cost of Goods Manufactured become inaccurate Make the company difficult to analyze problems if problems occur

Purchasing System Production System Overall the Old System

How to Solve It ?

The Calculation of Cost of Goods Manufactured System

Scope User Privilege Master Data Recording data of Bill of Material Recording data of standard of how long machine is use Integrated system as shown in Picture 1.1.

Scope (Continue) Picture 1.1. Design of Integrated System

Scope (Continue) Recording production cost Stock card The calculation of cost allocation charged to each product The calculation of cost of machine depreciation using Straight-Line Method Method of taking raw materials using First In, First Out Method

Scope (Continue) Recording of return of purchases when raw materials received damaged The calculation of the cost of goods manufactured of a product using the Process Costing Method Generate Report Applications created with Microsoft Visual Studio. Net 2005 The database used is Oracle 10g

Goals To obtain accurate information To help company in decision making To calculate the Cost of Goods Manufactured

Conclusion

Thank You for Your Attention