成本與管理會計4

CHAPTER4JobCosting?2009PearsonPrenticeHall.Allrightsreserved.BasicCostingTerminology…Severalkeypointsfrompriorchapters:CostObjects-includingresponsibilitycenters,departments,customers,products,etc.Directcostsandtracing–materialsandlaborIndirectcostsandallocation-overhead…logicallyextendedCostPool–anylogicalgroupingofrelatedcostobjectsCost-allocationbase–acostdriverisusedasabasisuponwhichtobuildasystematicmethodofdistributingindirectcosts.Forexample,let’ssaythatdirectlaborhourscauseindirectcoststochange.Accordingly,directlaborhourswillbeusedtodistributeorallocatecostsamongobjectsbasedontheirusageofthatcostdriverCostingSystemsProcess-Costing:systemaccountingformassproductionofidenticalorsimilarproducts.Continuousproduction.Suchas:Oilrefining,orangejuice,BaoSteelJob-Costing:systemaccountingfordistinctcostobjectscalledJobs.Eachjobmaybedifferentfromthenext,andconsumesdifferentresourcesWeddingannouncements,aircraft,advertising,auditingDistinctionBetweenJob-OrderCostingandProcessCostingJob-ordercostingallocatescoststoproductsthatareidentifiedbyindividualunitsorbatches.Processcostingaveragescostsoverlargenumbersofnearlyidenticalproducts.Job-OrderCostingBasicRecordsJob-costrecordMaterialsrequisitionsLabortimecardsProcessCostingComparedWithJobCostingFinishedgoodsCostofgoodssoldDirectmaterialsDirectlaborIndirectresourcecostAssemblyProcessAProcessBProcessCostingComparedWithJobCostingDirectmaterialsDirectlaborIndirectresourcecostJob101Job100FinishedgoodsCostofgoodssold?2009PearsonPrenticeHall.Allrightsreserved.4-9 Jobcosting,processcosting

Ineachofthefollowingsituations,determinewhetherjobcostingorprocesscostingwouldbemoreappropriate.ACPAfirmAnoilrefineryAcustomfurnituremanufacturerAtiremanufacturerAtextbookpublisherApharmaceuticalcompanyAnadvertisingagencyAnapparelmanufacturingplant

JobcostingProcesscostingJobcostingProcesscostingJobcostingProcesscostingJobcostingJobcosting(someprocess)?2009PearsonPrenticeHall.Allrightsreserved.4-10AflourmillApaintmanufacturerAmedicalcarefacilityAlandscapingcompanyAcola-drink-concentrateproducerAmoviestudioAlawfirmAcommercialaircraftmanufacturerAmanagementconsultingfirmAbreakfast-cerealcompanyAcateringserviceApapermillAnautorepairshop

ProcesscostingProcesscostingJobcostingJobcostingProcesscostingJobcostingJobcostingJobcostingJobcostingProcesscostingJobcostingProcesscostingJobcostingJobcosting,processcostingProcessCostingComparedWithJobCostingThejournalentriesforprocess-costingsystemsaresimilartothoseforthejob-ordersystem.However...thereismorethanonesinglework-in-processaccountforeachproduct.CostingApproachesActualCosting-allocates:Indirectcostsbasedontheactualindirect-costratestimestheactualactivityconsumptionEXP84;NormalCosting–allocates:Indirectcostsbasedonthebudgetedindirect-costratestimestheactualactivityconsumptionEX88BothmethodsallocateDirectcoststoacostobjectthesameway:byusingactualdirect-costratestimesactualconsumptionCostingApproachesSummarizedSeven-stepJobCostingIdentifytheJobthatistheChosenCostObjectIdentifytheDirectCostsoftheJobSelecttheCost-Allocationbase(s)touseforallocatingIndirectCoststotheJobMatchIndirectCoststotheirrespectiveCost-Allocationbase(s)Seven-stepJobCosting(continued)CalculateanOverheadAllocationRate:ActualOHCosts÷ActualOHAllocationBaseAllocateOverheadCoststotheJob:OHAllocationRatexActualBaseActivityFortheJobComputeTotalJobCostsbyaddingalldirectandindirectcoststogetherSample

Job

Cost

DocumentSampleJobCostSourceDocumentsJobCosting

OverviewJournalEntriesJournalentriesaremadeateachstepoftheproductionprocessThepurposeistohavetheaccountingsystemcloselyreflecttheactualstateofthebusiness,itsinventoriesanditsproductionprocesses.JournalEntries,continuedAllProductCostsareaccumulatedintheWork-in-ProcessControlAccountDirectMaterialsusedDirectLaborincurredFactoryOverheadallocatedorappliedActualIndirectCosts(overhead)areaccumulatedintheManufacturingOverheadControlaccountJournalEntries,continuedPurchaseofMaterialsoncredit:MaterialsControl XXAccountsPayableControl XXRequisitionofDirectandIndirectMaterials(OH)intoproduction:Work-in-ProcessControl X ManufacturingOverheadControl Y MaterialsControl ZJournalEntries,continuedIncurredDirectandIndirect(OH)LaborWagesWork-in-ProcessControl X ManufacturingOverheadControl Y Cash Control ZJournalEntries,continuedIncurringorrecordingofvariousactual IndirectCosts:ManufacturingOverheadControl X SalariesPayableControl AAccountsPayableControl BAccumulatedDepreciationControl C PrepaidExpensesControl D JournalEntries,continuedAllocationorapplicationofIndirectCosts(overhead)totheWork-in-Processaccountisbasedonapredeterminedoverheadrate.Work-in-ProcessControl X ManufacturingOverheadAllocated XNote:actualoverheadcostsareneverposteddirectlyintoWork-in-ProcessJournalEntries,continuedProductsarecompletedandtransferredoutofproductioninpreparationforbeingsoldFinishedGoodsControl X Work-in-ProcessControl XJournalEntries,continuedProductsaresoldtocustomersoncreditAccountsReceivableControl X Sales XAndtheassociatedcostsaretransferredtoanexpense(cost)accountCostofGoodsSold Y FinishedGoodsControl YNote:Thedifferencebetweenthesalesandcostofgoodssoldamountsrepresentsthegrossmargin(profit)onthisparticulartransactionFlowofCostsIllustratedIllustratedGeneralLedger

inaJobCostEnvironmentIllustratedSubsidiaryLedger

inaJobCostEnvironmentAccountingforOverheadRecallthattwodifferentoverheadaccountswereusedintheprecedingjournalentries:ManufacturingOverheadControlwasdebitedfortheactualoverheadcostsincurred.ManufacturingOverheadAllocatedwascreditedforestimated(budgeted)overheadappliedtoproductionthroughtheWork-in-Processaccount.AccountingforOverheadActualcostswillalmostneverequalbudgetedcosts.Accordingly,animbalancesituationexistsbetweenthetwooverheadaccountsIfOverheadControl>OverheadAllocated,thisiscalledUnderallocatedOverheadIfOverheadControl<OverheadAllocated,thisiscalledOverallocatedOverheadAccountingforOverheadThisdifferencewillbeeliminatedintheend-of-periodadjustingentryprocess,usingoneofthreepossiblemethodsThechoiceofmethodshouldbebasedonsuchissuesasmateriality,consistencyandindustrypracticeThreeMethodsforAdjustingOver/UnderappliedOverheadAdjustedAllocationRateApproach–allallocationsarerecalculatedwiththeactual,exactallocationrate.ProrationApproach–thedifferenceisallocatedbetweenCostofGoodsSold,Work-in-Process,andFinishedGoodsbasedontheirrelative