Harga Pokok Produk Bersama Dan Produk Sampingan PERTEMUAN
Harga Pokok Produk Bersama Dan Produk Sampingan PERTEMUAN XIV Dr Rilla Gantino, SE. , AK. , MM Prodi Akuntansi -FEB
KEMAMPUAN AKHIR YANG DIHARAPKAN Mahasiswa dapat menghitung dan menginterpretasikan harga pokok produk bersama dan perlakuan akuntansi terhadap produk bersama Mahasiswa dapat menghitung dan menginterpretasikan harga pokok produk sampingan, perlakuan akuntansi terhadap dan produk sampingan.
Learning Objective 1 Identify the split-off point(s) in a joint-cost situation. 16 - 3
Joint-Cost Basics (E. g. 1) Split-off point Raw milk Cream Liquid Skim Joint costs are costs Incurred in producing the raw milk Separable costs are costs incurred in producing these separately identifiable products 16 - 4
Joint-Cost Basics (E. g. 2) Coal Gas Benzyl Tar 16 - 5
Learning Objective 2 Distinguish joint products from byproducts. 16 - 6
Joint Products and Byproducts Main Product = 1 Joint Products ≥ 2 High Byproducts Low Sales Value 16 - 7
Learning Objective 3 Explain why joint costs should be allocated to discrete products. 16 - 8
Why Allocate Joint Costs? • to compute inventory cost and cost of goods sold • to determine cost reimbursement under contracts • for insurance settlement computations • for rate regulation • for litigation purposes 16 - 9
Learning Objective 4 Allocate joint costs using four different methods. 16 - 10
Approaches to Allocating Joint Costs Two (2) basic ways to allocate joint costs to products are: Approach 1: Market based Approach 2: Physical measure 16 - 11
Approach 1: Market-based Data – 3 methods (1) - Sales value at split-off method (2) - Estimated net realizable value (NRV) method (3) - Constant gross-margin percentage NRV method 16 - 12
(1) Sales Value at Split-off Method Example 10, 000 units of A at a selling price of $10 = $100, 000 10, 500 units of B at a selling price of $30 = $315, 000 11, 500 units of C at a selling price of $20 = $230, 00 Joint processing cost is $200, 000 Splitoff point 16 - 13
(1) Sales Value at Split-off Method Example Sales Value Allocation of Joint Cost 100 ÷ 645 315 ÷ 645 230 ÷ 645 A $100, 000 B $315, 000 C $230, 000 Total $645, 000 31, 008 Gross margin $ 68, 992 97, 674 71, 318 $217, 326 $158, 682 200, 000 $445, 000 16 - 14
(1) Sales Value at Split-off Method Example Assume all of the units produced of B and C were sold. 2, 500 units of A (25%) remain in inventory. What is the gross margin of product A ? What is the gross margin percentage of each product? 16 - 15
(1) Sales Value at Split-off Method Example Product A Revenues: 7, 500 units × $10. 00 Cost of goods sold: Joint product costs $31, 008 Less ending inventory $31, 008 × 25% 7, 752 Gross margin $75, 000 23, 256 $51, 744 16 - 16
(1) Sales Value at Split-off Method Example Product A: ($75, 000 – $ 23, 256) ÷ $75, 000 = 69% Product B: ($315, 000 – $97, 674) ÷ $315, 000 = 69% Product C: ($230, 000 – $71, 318) ÷ $230, 000 = 69% 16 - 17
(2) Estimated Net Realizable Value (NRV) Method Example Assume that Oklahoma Company can process products A, B, and, C further into A 1, B 1, and C 1. The new sales values after further processing are: A 1: B 1: C 1: 10, 000 × $12. 00 10, 500 × $33. 00 11, 500 × $21. 00 = $120, 000 = $346, 500 = $241, 500 16 - 18
(2) Estimated Net Realizable Value (NRV) Method Example Additional processing (separable) costs are as follows: A 1: $35, 000 B 1: $46, 500 C 1: $51, 500 What is the estimated net realizable value of each product at the splitoff point? 16 - 19
(2) Estimated Net Realizable Value (NRV) Method Example Product A 1: $120, 000 – $35, 000 = $85, 000 Product B 1: $346, 500 – $46, 500 = $300, 000 Product C 1: $241, 500 – $51, 500 = $190, 000 How much of the joint cost is allocated to each product? 16 - 20
(2) Estimated Net Realizable Value (NRV) Method Example To A 1: 85 ÷ 575 × $200, 000 = $29, 565 To B 1: 300 ÷ 575 × $200, 000 = $104, 348 To C 1: 190 ÷ 575 × $200, 000 = $66, 087 16 - 21
(2) Estimated Net Realizable Value (NRV) Method Example A 1 B 1 C 1 Total Allocated joint costs $ 29, 565 104, 348 66, 087 $200, 000 Separable costs $ 35, 000 46, 500 51, 500 $133, 000 Inventory costs $ 64, 565 150, 848 117, 587 $333, 000 16 - 22
(3) Constant Gross-Margin Percentage NRV Method This method entails three steps: Step 1: Compute the overall gross-margin percentage. Step 2: Use the overall gross-margin percentage and deduct the gross margin from the final sales values to obtain the total costs that each product should bear. 16 - 23
(3) Constant Gross-Margin Percentage NRV Method Step 3: Deduct the expected separable costs from the total costs to obtain the joint-cost allocation. 16 - 24
(3) Constant Gross-Margin Percentage NRV Method What is the expected final sales value of total production during the accounting period? Product A 1: $120, 000 Product B 1: 346, 500 Product C 1: 241, 500 Total $708, 000 16 - 25
(3) Constant Gross-Margin Percentage NRV Method Step 1: Compute the overall gross-margin percentage. Expected final sales value $708, 000 Deduct joint and separable costs 333, 000 Gross margin $375, 000 Gross margin percentage: $375, 000 ÷ $708, 000 = 52. 966% 16 - 26
(3) Constant Gross-Margin Percentage NRV Method Step 2: Deduct the gross margin. Sales Gross Cost of Value Margin Goods sold Product A 1: $120, 000 $ 63, 559 $ 56, 441 Product B 1: 346, 500 183, 527 162, 973 Product C 1: 241, 500 127, 913 113, 587 Total $708, 000 $375, 000 $333, 000 ($1 rounding) 16 - 27
(3) Constant Gross-Margin Percentage NRV Method Step 3: Deduct separable costs. Cost of Separable Joint costs goods sold costs allocated Product A 1: $ 56, 441 $ 35, 000 $ 21, 441 Product B 1: 162, 973 46, 500 116, 473 Product C 1: 113, 587 51, 500 62, 087 Total $333, 000 $133, 000 $200, 000 16 - 28
Approach 2: Physical Measure Method Example $200, 000 joint cost 20, 000 pounds A 48, 000 pounds B 12, 000 pounds C Product A $50, 000 Product B $120, 000 Product C $30, 000 16 - 29
Learning Objective 5 Explain why the sales value at splitoff method is preferred when allocating joint costs. 16 - 30
Choosing a Method Why is the sales value at split-off method widely used? It measures the value of the joint product immediately. It does not anticipate subsequent management decisions. It uses a meaningful basis. It is simple. 16 - 31
Choosing a Method The NRV method should be used when there is not enough information about individual selling prices at split-off point. The physical-measure method is a more appropriate method to use in rate regulation. 16 - 32
Avoiding Joint Cost Allocation Some companies refrain from allocating joint costs and instead carry their inventories at estimated net realizable value. 16 - 33
Learning Objective 6 Explain why joint costs are irrelevant in a sell-or-process-further decision. 16 - 34
Irrelevance of Joint Costs for Decision Making Assume that products A, B, and C can be sold at the splitoff point or processed further into A 1, B 1, and C 1. Selling Additional Units price costs 10, 000 A: $10 A 1: $12 $35, 000 10, 500 B: $30 B 1: $33 $26, 500 11, 500 C: $20 C 1: $21 $51, 500 16 - 35
Irrelevance of Joint Costs for Decision Making Should A, B, or C be sold at the splitoff point or processed further? Product A: Incremental revenue $20, 000 – Incremental cost $35, 000 = ($15, 000) Product B: Incremental revenue $31, 500 – Incremental cost $26, 500 = $5, 000 Product C: Incremental revenue $11, 500 – Incremental cost $51, 500 = ($40, 000) 16 - 36
Irrelevance of Joint Costs for Decision Making Should A, B, or C be sold at the splitoff point or processed further? Product A: Incremental revenue $20, 000 Split-off – Incremental cost $35, 000 = ($15, 000) Product B: Incremental revenue $31, 500 Processed – Incremental cost $26, 500 = $5, 000 further Product C: Incremental revenue $11, 500 Split-off – Incremental cost $51, 500 = ($40, 000) 16 - 37
Learning Objective 7 Account for byproducts using two different methods. 16 - 38
Accounting for Byproducts Method A: The production method recognizes byproducts at the time their production is completed. (Conceptually, this is the correct method) Method B: The sale method delays recognition of byproducts until the time of their sale. (used when dollar amount of byproducts are immaterial) 16 - 39
Accounting for Byproducts Example Main Products Byproducts (Yards) Production 1, 000 400 Sales 800 300 Ending inventory 200 100 Sales price $13/yard $1. 00/yard No beginning finished goods inventory 16 - 40
Accounting for Byproducts Example Joint production costs for joint (main) products and byproducts: Material $2, 000 Manufacturing labor 3, 000 Manufacturing overhead 4, 000 Total production cost $9, 000 16 - 41
Accounting for Byproducts Method A: The production method What is the value of ending inventory of joint (main) products? $9, 000 total production cost – $400 net realizable value of the byproduct = $8, 600 net production cost for the joint products 16 - 42
Accounting for Byproducts Method A 200 ÷ 1, 000 × $8, 600 = $1, 720 is the value assigned to the 200 yards in ending inventory. What is the cost of goods sold? Joint production costs Less byproduct revenue Less main product inventory Cost of goods sold $9, 000 400 1, 720 $6, 880 16 - 43
Accounting for Byproducts Method A Income Statement (Method A) Revenues: (800 yards × $13) $10, 400 Cost of goods sold 6, 880 Gross margin $ 3, 520 What is the gross margin percentage? $3, 520 ÷ $10, 400 = 33. 85% 16 - 44
Accounting for Byproducts Method A What are the inventoriable costs? Main product: 200 ÷ 1, 000 × $8, 600 = $1, 720 Byproduct: 100 × $1. 00 = $100 16 - 45
Journal Entries Method A Work in Process 2, 000 Accounts Payable 2, 000 To record direct materials purchased and used in production Work in Process 7, 000 Various Accounts 7, 000 To record conversion costs in the joint process 16 - 46
Journal Entries Method A Byproduct Inventory 400 Finished Goods 8, 600 Work in Process 9, 000 To record cost of goods completed Cost of Goods Sold 6, 880 Finished Goods 6, 880 To record the cost of the main product sold 16 - 47
Journal Entries Method A Cash or Accounts Receivable 10, 400 Revenues 10, 400 To record the sale of the main product 16 - 48
Accounting for Byproducts Method B: The sale method What is the value of ending inventory of joint (main) products? 200 ÷ 1, 000 × $9, 000 = $1, 800 No value is assigned to the 400 yards of byproducts at the time of production. The $300 resulting from the sale of byproducts is reported as revenues. 16 - 49
Accounting for Byproducts Method B Income Statement (Method B) Revenues: Main product (800 × $13) Byproducts sold Total revenues Cost of goods sold: Joint production costs 9, 000 Less main product inventory 1, 800 Gross margin $10, 400 300 $10, 700 $ 7, 200 $ 3, 200 16 - 50
Accounting for Byproducts Method B What is the gross margin percentage? $3, 200 ÷ $10, 700 = 29. 91% What are the inventoriable costs? Main product: 200 ÷ 1, 000 × $9, 000 = $1, 800 By-product: -0 - 16 - 51
Journal Entries Method B Work in Process 2, 000 Accounts Payable 2, 000 To record direct materials purchased and used in production Work in Process 7, 000 Various Accounts 7, 000 To record conversion costs in the joint process 16 - 52
Journal Entries Method B Finished Goods 9, 000 Work in Process 9, 000 To record cost of goods completed Cost of Goods Sold 7, 200 Finished Goods 7, 200 To record the cost of the main product sold 16 - 53
Journal Entries Method B Cash or Accounts Receivable 10, 400 Revenues 10, 400 To record the sale of the main product Cash or Accounts Receivable 300 Revenues 300 To record the sale of the byproduct 16 - 54
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