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AKUNTANSI MANAJEMEN LANJUTAN PENENTUAN HARGA POKOK PRODUK DAN PEMBUATAN KEPUTUSAN DALAM LINGKUNGAN PEMANUFAKTURAN MAJU [email protected]

AKUNTANSI MANAJEMEN LANJUTAN

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AKUNTANSI MANAJEMEN LANJUTAN. PENENTUAN HARGA POKOK PRODUK DAN PEMBUATAN KEPUTUSAN DALAM LINGKUNGAN PEMANUFAKTURAN MAJU. [email protected] PERTEMUAN II, 28 OKTOBER 2013. ACTIVITY BASED COSTING ACTIVITY BASED MANAGEMENT INVENTORY MANAGEMENT. - PowerPoint PPT Presentation

Text of AKUNTANSI MANAJEMEN LANJUTAN

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AKUNTANSI MANAJEMEN LANJUTANPENENTUAN HARGA POKOK PRODUK DAN PEMBUATAN KEPUTUSAN DALAM LINGKUNGAN PEMANUFAKTURAN MAJU

[email protected]@gmail.comPERTEMUAN II, 28 OKTOBER 2013ACTIVITY BASED COSTINGACTIVITY BASED MANAGEMENTINVENTORY MANAGEMENT4 - 3Learning Objective 1Describe the purposes of cost management systems. 4 - 4Cost Management SystemA cost-management system (CMS) is a collection of tools and techniques thatidentifies how managements decisions affect costs.4 - 5What is Cost Accounting?Cost accounting is that part of theaccounting system that measures costsfor the purposes of management decisionmaking and financial reporting.4 - 6Learning Objective 2Explain the relationships among cost, cost objective,cost accumulation, andcost allocation.4 - 7Cost Accounting SystemCostAccumulationCollecting costs by somenatural classificationsuch as materials or laborCostAllocationTracing costs to one or more cost objectives 4 - 8Cost Accounting SystemMACHININGDEPARTMENTACTIVITY ACTIVITYFINISHINGDEPARTMENTACTIVITY ACTIVITYRAW MATERIALCOSTS (METALSCABINETSCABINETSDESKSDESKSTABLESTABLESCost Accumulation

Cost Allocationto Cost Objects:

1. Departments

2. Activities

3. Products4 - 9CostA cost may be defined as a sacrifice or giving up of resources for a particular purpose.Costs are frequently measured by the monetary units that must be paid for goods and services.4 - 10Cost ObjectiveWhat is a cost object or cost objective?It is anything for which a separate measurementof costs is desired.4 - 11Learning Objective 3Distinguish among direct,indirect, and unallocated costs.4 - 12Direct CostsDirect costs can be identified specifically and exclusively with a given costobjective in an economicallyfeasible way.What are direct costs?4 - 13Indirect CostsIndirect costs cannot be identifiedspecifically and exclusively with agiven cost objective in an economicallyfeasible way.What are indirect costs?

4 - 14What Distinguishes Direct and Indirect Costs?Managers prefer to classify costs as direct rather than indirect whenever it is economically feasible or cost effective.Other factors also influence whether a cost is considered direct or indirect.The key is the particular cost objective.

4 - 15Categories of Manufacturing CostsAny raw material, labor, or other inputused by any organization could,in theory, be identified as adirect or indirect costdepending on thecost objective.4 - 16Categories of Manufacturing CostsAll costs which are eventually allocated to products are classified as eitherdirect materials,direct labor, orindirect manufacturing.4 - 17Direct Material Costs...include the acquisition costs of all materials that are physically identified as a part of the manufactured goods and that may be traced to the manufactured goods in an economically feasible way.

4 - 18Direct Labor Costs...include the wages of all labor that can be traced specifically and exclusively to the manufactured goods in an economically feasible way.

4 - 19Indirect Manufacturing Costs...or factory overhead, include all costs associated with the manufacturing process that cannot be traced to the manufactured goods in an economically feasible way.

4 - 20Product Costs...are costs identified with goods produced or purchased for resale.Product costs are initially identified as part of the inventory on hand.These costs, inventoriable costs, become expenses (in the form of cost of goods sold) only when the inventory is sold.4 - 21Period Costs...are costs that are deducted as expenses during the current period without going through an inventory stage.

4 - 22Period or Product Costs In merchandising accounting, insurance, depreciation, and wages are period costs (expenses of the current period).In manufacturing accounting, many of these items are related to production activities and thus, as indirect manufacturing, are product costs.4 - 23Period Costs Merchandising and ManufacturingIn both merchandising and manufacturing accounting, selling and general administrative costs are period costs.

4 - 24Learning Objective 4Explain how the financialstatements of merchandisersand manufacturers differbecause of the types of goodsthey sell.4 - 25Financial Statement Presentation Merchandising CompaniesMerchandiseInventorySalesCost of Goods Sold(an expense)Selling andAdministrativeExpensesBalance SheetIncome StatementEquals Gross MarginEquals Operating IncomeExpirationPeriodCosts4 - 26Financial Statement Presentation Manufacturing CompaniesFinishedGoodsInventorySalesCost of Goods Sold(an expense)Selling andAdministrativeExpensesBalance SheetIncome StatementEquals Gross MarginEquals Operating IncomeExpirationPeriodCostsDirectMaterialInventoryWork-in-ProcessInventory4 - 27Costs and Income StatementsOn income statements, the detailed reporting of selling and administrative expenses is typically the same for manufacturing and merchandising organizations, but the cost of goods sold is different.4 - 28Cost of Goods Sold for a ManufacturerThe manufacturers cost of goods produced and then sold is usually composed of the three major categories of cost:Direct materialsDirect laborIndirect manufacturing

4 - 29Cost of Goods Soldfor a Retailer or WholesalerThe merchandisers cost of goods sold is usually composed of the purchase cost of items, including freight-in, that are acquired and then resold.

4 - 30Learning Objective 5Understand the maindifferences between traditionaland activity-based costingsystems and why ABC systemsprovide value to managers.4 - 31Traditional Cost SystemAllUnallocatedValue ChainCostsDirectMaterialResourceDirectLaborResourceAllIndirectResourcesProductsDirectTraceDirectTraceCostDriverUnallocated4 - 32Two-Stage Activity-BasedCost SystemAllUnallocatedValue ChainCostsDirectMaterialResourceDirectLaborResourceIndirectResourceAProductsDirectTraceDirectTraceActivity1UnallocatedOtherDirectResourcesIndirectResourceZActivity10%%%%CostDriverCostDriver4 - 33Activity-Based CostingUnderstanding the relationships among activities, resources, costs, and cost drivers is the key to understanding ABC and how ABC facilitates managers understanding of operations.4 - 34Example of Activities and Cost Drivers:Activities:Account billingBill verificationAccount iniquityCorrespondenceCost Drivers:No. of lines No. of accountsNo. of labor hoursNo. of lettersActivity-Based Costing4 - 35Learning Objective 6Identify the steps involved in thedesign and implementationof an activity-basedcosting system.4 - 36Designing and Implementing an Activity-Based Costing SystemDetermine cost ofactivities, resources,and related costdrivers.Develop a process-basedmap representing the flowof activities, resources, andtheir interrelationships.Step 1Step 2364 - 37Designing and Implementing an Activity-Based Costing SystemCollect relevant data concerning costsand the physical flow of the cost-driverunits among resources and activities.Step 3

4 - 38Designing and Implementing an Activity-Based Costing SystemCalculate and interpret the new activity-based information.Using an activity-based costing system toimprove the operations of an organizationis activity-based management (ABM).Step 44 - 39Activity-Based ManagementActivity-based management aims to improve the value received by customers and to improve profits by identifying opportunities for improvements in strategy and operations.394 - 40Activity-Based ManagementA value-added cost is the cost of an activity that cannot be eliminated without affecting a products value to the customer.In contrast, non-value-added costs are costs that can be eliminated without affecting a products value to the customer.404 - 41Learning Objective 7Use activity-based cost information to improve the operations of an organization.4 - 42Using ABC InformationActivity-based managementprovides costs of value-added andnon-value-added activities.improves managers understanding of operations.424 - 43Learning Objective 8Understand cost accountings role in a companysimprovement efforts acrossthe value chain.4 - 44Cost Accounting andthe Value ChainA good cost accounting system is critical toall value-chain functions from research anddevelopment through customer service.

Activity Based ManagementActivity-Based Management (ABM)Activity-based management (ABM) is a systemwide, integrated approach that focuses managements attention on activities with the objective of improving customer value and the profit achieved by providing this value.Activity-based management encompasses both product costing and process value analysis.Cost DimensionProcess DimensionDriver AnalysisActivitiesPerformance MeasuresResourcesProducts andCustomersWhy? What? How Well?Activity-Based Management ModelProcess Value AnalysisProcess value analysis is fundamental to activity-based responsibility accounting, focuses on accountability for activities rather than costs, and emphasizes the maximization of systemwide performance instead of individual performance.Process value analysis is concerned with:Driver analysisActivity analysisPerformance measurementActivity AnalysisActivity analysis should produce four outcomes:What activities are performed?How many people perform the activities?The time and resources required to perform the activities.An assessment of the value of the activities to the organization, including a recommendation to select and keep only those that add value.Value-Added ActivitiesA discretionary activity is classified as value-added provided it simultaneously satisfies three conditions:The activity produces a change of state.The change of state was not achievable by preceding activities.The activity enables other activities to be performed.Nonvalue-Added ActivitiesNonvalue-Added Activities are activities that add cost and impede performance.SchedulingMovingWaitingInspectingStoringExamplesActivity AnalysisActivity eliminationActivity selectionActivity reductionActivity sharingActivity Analysis Can Reduce Costs in Four Ways:Activity Performance MeasurementEfficiencyQualityTimeThree Dimensions of Activity Performance

Measures of Activity PerformanceFinancial measures of activity efficiency include:Value and nonvalue-added activity cost reportsTrends in activity cost reportsKaizen standard settingBenchmarking55

Economic Order Quantity, JIT, and the Theory of ContraintsINVENTORY MANAGEMENT156Learning ObjectivesDescribe the traditional inventory management model.Describe JIT inventory management.Explain the basic concepts of constrained optimization.Describe the theory of constraints, and explain how it can be used to manage inventory.57Managing Inventories0 3 69 12InventoryAverage InventoryWeeksInventory, thousands of bricks60

30

58The Appropriate Inventory PolicyTwo Basic Questions Must be AddressedHow much should be ordered or produced?When should the order be placed or the setup be performed?59InventoriesAs the firm increases its order size, the number of orders falls and therefore the order costs decline. However, an increase in order size also increases the average amount in inventory, so that the carrying cost of inventory rises. The trick is to strike a balance between these two costs.2260Ordering or Setup CostsCarrying CostsStockout CostsInventory CostsBasics of Traditional Inventory Management361Inventory CostsOrdering Costs: The costs of placing and receiving an orderExamples: clerical costs, documents, insurance for shipment, and unloading.Carrying Costs: The costs of carrying inventoryExamples: insurance, inventory taxes, obsolescence, opportunity cost of capital tied up in inventory, and storage.62Inventory Costs (continued)3.Stock-Out Costs: The costs of not having sufficient inventoryExamples:lost sales, costs of expediting (extra setup, transportation, etc.) and the costs of interrupted production.4.Setup Costs: The costs of preparing equipment and facilities so they can be used to produce a particular product or componentExamples: setup labor, lost income (from idled facilities), and test runs. When a firm produces the goods internally, ordering costs are replaced by setup costs.63Traditional Reasons for Carrying Inventory1.To balance ordering or setup costs and carrying costs2.To satisfy customer demand (e.g., meet delivery dates)3.To avoid shutting down manufacturing facilities because of:a.machine failureb.defective partsc.unavailable partsd.late delivery of parts64Traditional Reasons for Carrying Inventory (continued)4.Unreliable production processes5.To take advantage of discounts6.To hedge against future price increases65Inventories Determination of optimal order sizeInventory costs, dollarsOrder sizeTotal costsCarrying costsTotal order costsOptimal order size2466Total Costs = Ordering costs + Carrying cost TC = PD/Q + CQ/2whereTC =The total ordering (or setup) and carrying cost P =The cost of placing and receiving an order (or the cost of setting up a production run) Q =The number of units ordered each time an order is placed (or the lot size for production) D =The known annual demand C =The cost of carrying one unit of stock for one year

Economic order quantity (EOQ) = 2PD/CAn Inventory Model767Inventories Economic Order Quantity - Order size that minimizes total inventory costs.

2368Economic-Order-Quantity Decision ModelThe formula for the EOQ model is:

EOQ =

D = Demand in units for a specified time periodP = Relevant ordering costs per purchase orderC = Relevant carrying costs of one unit in stock for the time period used for D

69An EOQ Illustration EOQ = 2PD/CD = 1,000 unitsQ = 500 unitsP = $200 per orderC = $40 per unitEOQ = (2 x 200 x 10,000) / 40EOQ = 10,000EOQ = 100 units870Economic-Order-Quantity Decision ModelWhat are the relevant total costs?The formula for relevant total costs (RTC) is: RTC = Annual relevant ordering costs + Annual relevant carrying costs RTC = ( ) P + ( ) C = + Q can be any order quantity, not just EOQ.DQQ 2 DP QQC 271Economic-Order-Quantity Decision ModelRelevant Total Costs (Dollars)2,0004,0006,0008,00010,0005,4346001,2001,8002,400988EOQAnnual relevant carrying costsAnnual relevant total costsAnnual relevant ordering costsOrder Quantity (Units)72Considerations in Obtaining Estimates of Relevant CostsObtaining accurate estimates of the cost parameters used in the EOQ decision model is a challenging task.What are the relevant incremental costs of carrying inventory?Only those costs of the purchasing company that change with the quantity of inventory held73Considerations in Obtaining Estimates of Relevant CostsWhat is the relevant opportunity cost of capital?It is the return forgone by investing capital in inventory rather than elsewhere.It is calculated as the required rate of return multiplied by those costs per unit that vary with the number of units purchased and that are incurred at the time the units are received.74Costs Associated with Goods for SaleFive categories of costs associated with goods for sale are:. Purchasing costs. Ordering costs. Carrying costs. Stockout costs. Quality costs75Reorder Point When Demand is CertainReorder point = Rate of usage x Lead time

Example: Assume that the average rate of usage is 4 units per day for a component. Assume also that the time required to place and receive an order is 10 days. What is the reorder point?

Reorder point = 4 x 10 = 40 units

Thus, an order should be placed when inventory drops to 40 units.76Reorder Point When Demand is UncertainReorder point = (Ave. rate of usage x Lead time) + Safety stock

where:

Safety stock = (Maximum usage - Average usage) x Lead time77Reorder Point (continued)Example:Suppose that the maximum usage is 6 units per day and the average usage is 4 units per day. The lead time is 10 days. What is the reorder point?

Safety stock=(6 - 4) x 10 = 20 unitsReorder point=(4 x 10) + 20 = 60 units78Reorder Point988494Weeks12345678Reorder PointReorder PointLead Time2 weeks79Reorder Point (no safety stock)Reorder point = Rate of usage x Lead time100

80

60

4020

0TimeROP

980Safety StockSafety stock is inventory held at all times regardless of the quantity of inventory ordered using the EOQ model.Safety stock is used as a buffer against unexpected increases in demand or lead time and unavailability of stock from suppliers.81Evaluating Managers and Goal-Congruence IssuesGoal-congruence issues can arise when there is an inconsistency between the EOQ decision model and the model used to evaluate the performance of the manager implementing the inventory management decisions.

82Traditional versus JIT Inventory Procedures Inventory Control System1.Balance setup and carrying costs2.Satisfy customer demand3. Avoid manufacturing shutdowns4. Take advantage of discounts5. Hedge against future price increases 1. Drive setup and carrying costs to zero 2. Use due-date performance*3. Total preventive maintenance*4. Total quality control*5. The Kanban systemTraditional SystemsJIT Systems*Rather than holding inventories as a hedge against plant-shutdowns,JIT attacks the plant-shutdown problem by addressing these issues.1183Just-In-Time Production SystemsJust-in-time (JIT) production systems take a demand pull approach in which goods are only manufactured to satisfy customer orders.Demand triggers each step of the production process, starting with customer demand for a finished product at the end of the process, to the demand for direct materials at the beginning of the process.84Materials Requirement Planning (MRP)Materials requirements planning (MRP) systems take a push-through approach that manufactures finished goods for inventory on the basis of demand forecasts.MRP predetermines the necessary outputs at each stage of production.Inventory management is a key challenge in an MRP system.85JIT And Inventory Management Setup and Carrying Costs: The JIT ApproachJIT reduces the costs of acquiring inventory to insignificant levels by:1. Drastically reducing setup time2. Using long-term contracts for outside purchasesCarrying costs are reduced to insignificant levels by reducing inventories to insignificant levels86JIT And Inventory Management Due-Date Performance: The JIT SolutionLead times are reduced so that the company can meet requested delivery dates and to respond quickly to customer demand.Lead times are reduced by:reducing setup times improving qualityusing cellular manufacturing87JIT And Inventory Management Avoidance of Shutdown: The JIT ApproachTotal preventive maintenance to reduce machine failuresTotal quality control to reduce defective partsCultivation of supplier relationships to ensure availability of quality raw materials and subassemblies The use of the Kanban system is also essential88JIT And Inventory ManagementDiscounts and Price Increases: JIT Purchasing Versus Holding InventoriesCareful vendor selectionLong-term contracts with vendorsPrices are stipulated (usually producing a significant savings)Quality is stipulatedThe number of orders placed are reduced89Major Features of a JIT SystemThe five major features of a JIT system are:Organizing production in manufacturing cellsHiring and retaining multi-skilled workersEmphasizing total quality managementReducing manufacturing lead time and setup Time Building strong supplier relationships90Benefits of JIT SystemsBenefits of JIT production:Lower carrying costs of inventoryEliminating the root causes of rework, scrap, waste, and manufacturing lead time.

91Performance Measures and Control in JIT ProductionTo manage and reduce inventories, the management accountant must design performance measures to control and evaluate JIT production.What information may management accountants use?Personal observation by production line workers and managersFinancial performance measures, such as inventory turnover ratios92Performance Measures and Control in JIT ProductionWhat are nonfinancial performance measures of time, inventory, and quality?Manufacturing lead timeUnits produced per hourDays inventory on handTotal setup time for machines/Total manufacturing timeNumber of units requiring rework or scrap/Total number of units started and completed93Backflush CostingA unique production system such as JIT often leads to its own unique costing system.Organizing manufacturing in cells, reducing defects and manufacturing lead time, and ensuring timely delivery of materials enables purchasing, production, and sales to occur in quick succession with minimal inventories.94Backflush CostingWhere journal entries for one or more stages in the cycle are omitted, the journal entries for a subsequent stage use normal or standard costs to work backward to flush out the costs in the cycle for which journal entries were not made.95Trigger PointsStage A: Purchase of direct materialsStage B: Production resulting in work in processStage C: Completion of a good finished unit or productStage D: Sale of finished goods96Trigger PointsAssume trigger points A, C, and D.This company would have two inventory accounts:

Type Account Title 1. Combined materialsInventory: Material and materials in work-in-and In-Process process inventoryControl

2. Finished goodsFinished GoodsControl97Trigger PointsAssume trigger points A and D.This company would have one inventory account: Type Account Title Combines direct materials Inventory inventory and any direct Control materials in work-in-process and finished goods inventories98Special Considerations in Backflush CostingBackflush costing does not necessarily comply with GAAPHowever, inventory levels may be immaterial, negating the necessity for complianceBackflush costing does not leave a good audit trail the ability of the accounting system to pinpoint the uses of resources at each step of the production process99What is the Kanban System?A Card System is used to monitor work-in-processA withdrawal KanbanA production KanbanA vendor Kanban12100The Withdrawal KanbanItem No. TVD-114 Preceding Process

Item Name LCD Screen Computer Assembly

Computer Type Compaq 4/25

Box Capacity 12 Subsequent Process

Box Type AD-1942 Final Assembly 13101The Production KanbanItem No. TVD-114 Process

Item Name LCD Screen Computer Assembly

Computer Type Compaq 4/25

Box Capacity 12

Box Type ___AD-1942 14102The Vendor KanbanItem No. TVD-114 Name of Receiving Company

Item Name Computer Chassis Type Black Plastic

Box Capacity 12

Box Type Cardboard--Type Receiving Gate North Receiving Gate

Time to Deliver 8:30 A.M., 12:30 P.M., 2:30 P.M.

Name of Vendor Hovey Supply Company 15103The Kanban ProcessWithdrawalStoreLCD ScreenWithdrawal Lot with P-Kanban ProductionOrdering Post(6) SignalLCD AssemblyRemove(4) P-Kanban

Attach toPost(5) AttachW-Kanban(1) Remove W-Kanban Attach to PostWithdrawal Post(2), (3)(7)Final Assembly(1)16104Multiple Constrained ResourceTo the Thurman Company example for a one constrained resource, add the following additional constraint: the market limits sales of the economy disk player to 3,000 units. Formulate the linear programming problem and solve using the graphical method Let X1 = deluxe models and X2 = economy modelsFormulation:Max CM = 40X1 + 25X2Subject to:4X + 2X2 < 20,000X2 < 3,000105Multiple Constrained Resource (continued)10,0003,000A5,000DCBXX4X +2X < 20,000X < 3,00011222106Multiple Constrained Resource (continued)Corner PointX1 X2CM = 40X1 + 25X2A000B5,0000$200,000C*3,5003,000$215,000D03,000$75,000* Point C is optimalThe X1 value of point c is found by substituting the second equation into the first one like so:$X1 + 2 (3,000) = 20,0004X1 + 6,000 = 20,0004X1 =14,000X1 = 3,500107ThroughputInventoryOperating expensesThree Measures of Systems PerformanceTheory of Constraints17108The Theory of Constraints (continued)Five steps to improve performance:1. Identify an organizations constraints.2. Exploit the binding constraints.3. Subordinate everything else to the decisions made in Step 2.4. Elevate the organizations binding constraints.5. Repeat the process as a new constraint emerges to limit output.18109Theory of Constraints A sequential process of identifying and removing constraints in a system.

Restrictions or barriers that impedeprogress toward an objective

110Theory of ConstraintsThe theory of constraints emphasizes the management of bottlenecks as the key to improving the performance of the production system as a whole.

111Methods to Relieve BottlenecksEliminate idle time at the bottleneck operationProcess only those parts or products that increase throughput contribution, not parts or products that will remain in finished goods or spare parts inventoriesShift products that do not have to be made on the bottleneck operation to nonbottleneck processes, or to outside processing facilities112Methods to Relieve BottlenecksReduce setup time and processing time at bottleneck operationsImprove the quality of parts or products manufactured at the bottleneck operation113Theory of ConstraintsThe objective of TOC is to increase throughput contribution while decreasing investments and operating costs.TOC considers a short-run time horizon and assumes operating costs to be fixed costs.114 The Drum-Buffer-Rope SystemInitial ProcessProcess AProcess BDrummer ProcessRaw MaterialsProcess CFinal ProcessRope Time BufferFinished Goods19115The Management of CapacityManagers can reduce capacity-based fixed costs by measuring and managing unused capacity

Unused Capacity is the amount of productive capacity available over and above the productive capacity employed to meet consumer demand in the current period116Analysis of Unused CapacityTwo Important Features:Engineered Costs result from a cause-and-effect relationship between output and the resources used to produce that outputDiscretionary Costs have two parts:They arise from periodic (annual) decisions regarding the maximum amount to be incurredThey have no measurable cause-and-effect relationship between output and resources used117Managing Unused CapacityDownsizing (Rightsizing) is an integrated approach of configuring processes, products, and people to match costs to the activities that need to be performed to operate effectively and efficiently in the present and futureBecause identifying unused capacity for discretionary costs is difficult, downsizing, or otherwise managing this unused capacity, is also difficult.118End of Week