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  • Activity Based Cost

    Diunggah oleh

    zuriana85
    23 tayangan5 halaman
    1. The document describes an old cost accounting system that allocates support costs from service departments like purchasing, inventory, setup and scheduling, and quality control to production departments like machining (MC), production labor (PL), and assembly (AS). 2. Support costs are allocated to each production department based on cost drivers like material costs, labor hours, and machine hours. Then a cost rate per unit is calculated for each production department. 3. Finally, total product costs are calculated by adding direct costs, support costs allocated by department, and calculating a unit product cost for each product GT101, GT102, and GT103.

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    1. The document describes an old cost accounting system that allocates support costs from service departments like purchasing, inventory, setup and scheduling, and quality control to production departments like machining (MC), production labor (PL), and assembly (AS). 2. Support costs are allocated to each production department based on cost drivers like material costs, labor hours, and machine hours. Then a cost rate per unit is calculated for each production department. 3. Finally, total product costs are calculated by adding direct costs, support costs allocated by department, and calculating a unit product cost for each product GT101, GT102, and GT103.

    Hak Cipta:

    Attribution Non-Commercial (BY-NC)
    Unduh sebagai DOC, PDF, TXT atau baca online dari Scribd
    Tandai sebagai konten tidak pantas
    23 tayangan5 halaman

    Activity Based Cost

    Diunggah oleh

    zuriana85
    1. The document describes an old cost accounting system that allocates support costs from service departments like purchasing, inventory, setup and scheduling, and quality control to production departments like machining (MC), production labor (PL), and assembly (AS). 2. Support costs are allocated to each production department based on cost drivers like material costs, labor hours, and machine hours. Then a cost rate per unit is calculated for each production department. 3. Finally, total product costs are calculated by adding direct costs, support costs allocated by department, and calculating a unit product cost for each product GT101, GT102, and GT103.

    Hak Cipta:

    Attribution Non-Commercial (BY-NC)
    Unduh sebagai DOC, PDF, TXT atau baca online dari Scribd
    Tandai sebagai konten tidak pantas
    dari 5

    Old Cost Accounting System

    1. Cost allocation from service department to production department

    Purchasing & Inventory (PI)

    Cost Driver Rate = Support cost PI / Total material cost


    Cost Driver Rate = $50,000 / $346,000
    = 0.14

    - assigned to MC

    Support cost = 0.14 x $256,000


    = $35,840

    - assigned to PL

    Support cost = 0.14 x $90,000


    = $12,600

    Setup & Scheduling (SS)

    Cost Driver Rate = Support cost SS / Total direct labor hours


    Cost Driver Rate = $120,000 / 23,500
    = $5.10

    - assigned to MC

    Support cost = $5.10 x 12,000


    = $61,200

    - assigned to PL
    Support cost = $5.10 x 7,000
    = $35,700

    - assigned to AS

    Support cost = $5.10 x 4,500


    = $22,950

    Quality Control (QC)

    Cost Driver Rate = Support cost QC / Total machine hours


    Cost Driver Rate = $70,000 / 10,000
    = $7

    - assigned to MC

    Support cost = $7 x 5,200


    = $36,400

    - assigned to PL

    Support cost = $7 x 1,900


    = $13,300
    - assigned to AS

    Support cost = $7 x 2,900


    = $20,300

    2. Total support costs allocated to each production department

    Cost Driver Rate for each department based on first allocation

    MC = $35,840 + $61,200 + $36,400 + $40,000


    12,000 (labor hours)
    = $14.45

    PL = $12,600 + $35,700 + $13,300 + $50,000


    7,000 (labor hours)
    = $15.94

    AS = $22,950 + $20,300 + $15,000


    4,500 (labor hours)
    = $12.94

    Total support cost for each product based on production department

    MC:
    GT101: $14.45 x 7,000 = $101,150
    GT102: $14.45 x 2,800 = $ 40,460
    GT103: $14.45 x 2,200 = $ 31,790

    PL:
    GT101: $15.94 x 3,500 = $ 55,790
    GT102: $15.94 x 1,700 = $ 27,098
    GT103: $15.94 x 1,800 = $ 28,692

    AS:
    GT101: $12.94 x 2,500 = $ 32,350
    GT102: $12.94 x 1,000 = $ 12,940
    GT103: $12.94 x 1,000 = $ 12,940

    Support cost for each product


    GT101 = $101,150 + $55,790 + $32,350
    = $189,290

    GT102 = $40,460 + $27,098 + $12,940


    = $80,498

    GT103 = $31,790 + $28,692 + $12,940


    = $73,422

    Product cost per unit

    Total product cost = Direct material cost + Direct labor cost + Support cost
    Product cost per unit = Total product cost / sales

    Total product cost for GT101 = $200,000 + $130,000 + $189,290


    = $519,290

    Product cost per unit (GT101) = $519,290 / 500,000


    = $1.04

    Total product cost for GT102 = $70,000 + $55,000 + $80,498


    = $205,498

    Product cost per unit (GT102) = $205,498 / 200,000


    = $1.03
    Total product cost for GT103 = $76,000 + $50,000 + $73,422
    = $199,422

    Product cost per unit (GT103) = $519,290 / 200,000


    = $1.00

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