TUGAS COST ACCOUNTING Nama : Aga Bagoes Ardiansyah No/NPM: 02/144060005783 Kelas : 7F Akuntansi Khusus Endeavors normal-costing system

has two direct-cost categories (direct material costsand direct manufacturing labor costs) and one indirect-cost pool (manufacturing overheadcosts, which are allocated using direct manufacturing labor costs).

Problem for Self-Study Material control

Finished Good

31-12-2011 $ 15,000

31-12-2011 $ 20,000

Wages Payable

MOH Control

31-1-2012 $ 57,000 31-1-2012 $ 3,000

Additional information follows: a. Manufacturing overhead is allocated using a budgeted rate that is set every December.Management forecasts next years manufacturing overhead costs and next yearsdirect manufacturing labor costs. The budget for 2012 is $600,000 for manufacturingoverhead costs and $400,000 for direct manufacturing labor costs. b. The only job unfinished on January 31, 2012, is No. 419, on which direct manufacturinglabor costs are $2,000 (125 direct manufacturing labor-hours) and direct materialcosts are $8,000. c. Total direct materials issued to production during January 2012 are $90,000. d. Cost of goods completed during January is $180,000. e. Materials inventory as of January 31, 2012, is $20,000. f. Finished goods inventory as of January 31, 2012, is $15,000. g. All plant workers earn the same wage rate. Direct manufacturing labor-hours usedfor January total 2,500 hours. Other labor costs total $10,000. h. The gross plant payroll paid in January equals $52,000. Ignore withholdings. i. All actual manufacturing overhead incurred during January has already been posted. j. All materials are direct materials.

Calculate the following: 1. Materials purchased during January 2. Cost of Goods Sold during January 3. Direct manufacturing labor costs incurred during January 4. Manufacturing Overhead Allocated during January 5. Balance, Wages Payable Control, December 31, 2011 6. Balance, Work-in-Process Control, January 31, 2012 7. Balance, Work-in-Process Control, December 31, 2011 8. Manufacturing Overhead Underallocated or Overallocated for January 2012

JAWABAN 1. Material Purchase = Material Used + Material Ending Material Beginning = $90.000 + $20.000 $15.000 = $95.000 2. COGS = FG Beginning + COGM FG Ending = $20.000 + $180.000 $15.000 = $185.000 3. DL rate = $2000/125 hours = $16/hour DL incurred January = 2500 hours x $16/hour = $40.000 4. MOH Rate = MOH Allocated/DL Allocated = 600.000/400.000 = 1,5 MOH Allocated January = 1,5 x DL January = 1,5 x 40.000 = $60.000 5. Wages Payable Control 31-12-2011 Wages Payable 31-01-2012 = $3.000 Payroll Jan = $52.000 DL Jan = $40.000 IDL Jan = $10.000 Wages Payable Control 31-12-2011 = $52.000 + $3.000 $40.000 $10.000 = $55.000 6. WIP Control 31-01-2012 DM = $8.000 DL = $2.000 MOH = 1,5 x $2000 = $3.000 WIP Control 31-01-2012 = $8.000 + $2.000 + $3.000 = $13.000 7. WIP Control 31-12-2011 COGM = DM + DL + MOH + WIP Begin WIP End WIP Begin = COGM DM DL MOH + WIP End = $180.000 - $90.000 - $40.000 - $60.000 + $13.000 = $3.000 8. MOH Allocated > MOH Control $60.000 > $57.000 MOH Overallocated

JOB ORDER
The University of Chicago Press is wholly owned by the university. It performs the bulk of its work for other university departments, which pay as though the press were an outside business enterprise. The press also publishes and maintains a stock of books for general sale. The press uses normal costing to cost each job. Its job-costing system has two direct-cost categories (direct materials and direct manufacturing labor) and one indirect-cost pool (manufacturing overhead, allocated on the basis of direct manufacturing labor costs). The following data (in thousands) pertain to 2011: Direct materials and supplies purchased on credit $ 800 Direct materials used $710 Indirect materials issued to various production departments $100 Direct manufacturing labor $1,300 Indirect manufacturing labor incurred by various production departments $900 Depreciation on building and manufacturing equipment $400 Miscellaneous manufacturing overhead* incurred by various production departments (ordinarilywould be detailed as repairs, photocopying, utilities, etc.) $550 Manufacturing overhead allocated at 160% of direct manufacturing labor costs ? Cost of goods manufactured $4,120 Revenues $8,000 Cost of goods sold (before adjustment for under- or overallocated manufacturing overhead) $ 4,020 Inventories, December 31, 2010 (not 2011): Materials Control 100 Work-in-Process Control 60 Finished Goods Control 500 Required: Prepare journal entries to summarize the 2011 transactions. As your final entry, dispose of the year-endunderor overallocated manufacturing overhead as a write-off to Cost of Goods Sold. Number yourentries. Explanations for each entry may be omitted.

JAWABAN
1. Material Account Payable 2. WIP Material 3. MOH Material 4. WIP Accrued Payroll 5. MOH Accrued Payroll 6. MOH Accumulated Depreciation 7. MOH Miscellaneous Expense 8. WIP MOH Allocated 9. Finished Goods WIP 10. Account Receivable Sales 11. COGS Finished Goods 12. MOH Allocated MOH Control COGS MOH OverAllocated $4.120 $4.120 $8.000 $8.000 $4.020 $4.020 $2.080 $1.950 $130 $2.080 $2.080 $550 $550 $400 $400 $900 $900 $1.300 $1.300 $100 $100 $800 $800 $710 $710