Harga Pokok Produk Bersama Dan Produk Sampingan PERTEMUAN XIV Dr Rilla Gantino, SE., AK., MM Prodi Akuntansi -FEB

Teks penuh

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Harga Pokok Produk Bersama Dan Produk Sampingan

PERTEMUAN XIV

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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

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Learning Objective 1

Learning Objective 1

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Joint-Cost Basics (E.g. 1)

Joint-Cost Basics (E.g. 1)

Raw milk

Cream Liquid Skim

Joint costs are costs Incurred in

producing the raw milk

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Joint-Cost Basics (E.g. 2)

Joint-Cost Basics (E.g. 2)

Coal

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Learning Objective 2

Learning Objective 2

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Joint Products and Byproducts

Joint Products and Byproducts

Sales Value

High Low

Main Product = 1

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Learning Objective 3

Learning Objective 3

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Why Allocate Joint Costs?

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

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Learning Objective 4

Learning Objective 4

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Approaches to Allocating

Joint Costs

Approaches to Allocating

Joint Costs

Approach 2: Physical measure Approach 1:

Market based

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Approach 1: Market-based Data

3 methods

Approach 1: Market-based Data

3 methods

(1) - Sales value at split-off method

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(1) Sales Value at Split-off

Method Example

(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

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(1) Sales Value at Split-off

Method Example

(1) Sales Value at Split-off

Method Example

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(1) Sales Value at Split-off

Method Example

(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 ?

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(1) Sales Value at Split-off

Method Example

(1) Sales Value at Split-off

Method Example

Product A Revenues: 7,500 units × $10.00 $75,000 Cost of goods sold:

Joint product costs $31,008

Less ending inventory

$31,008 × 25% 7,752 23,256

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(1) Sales Value at Split-off

Method Example

(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:

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(2) Estimated Net Realizable Value

(NRV) Method Example

(2) Estimated Net Realizable Value

(NRV) Method Example

Assume that Oklahoma Company can process products A, B, and, C further into A1, B1, and C1.

The new sales values after further processing are:

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(2) Estimated Net Realizable Value

(NRV) Method Example

(2) Estimated Net Realizable Value

(NRV) Method Example

Additional processing (separable) costs are as follows:

A1: $35,000 B1: $46,500 C1: $51,500

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(2) Estimated Net Realizable Value

(NRV) Method Example

(2) Estimated Net Realizable Value

(NRV) Method Example

Product A1: $120,000 – $35,000 = $85,000 Product B1: $346,500 – $46,500 = $300,000 Product C1: $241,500 – $51,500 = $190,000

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(2) Estimated Net Realizable Value

(NRV) Method Example

(2) Estimated Net Realizable Value

(NRV) Method Example

To A1:

85 ÷ 575 × $200,000 = $29,565 To B1:

300 ÷ 575 × $200,000 = $104,348 To C1:

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(2) Estimated Net Realizable Value

(NRV) Method Example

(2) Estimated Net Realizable Value

(NRV) Method Example

Allocated Separable Inventory joint costs costs costs

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(3) Constant Gross-Margin

Percentage NRV Method

(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

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(3) Constant Gross-Margin

Percentage NRV Method

(3) Constant Gross-Margin

Percentage NRV Method

Step 3:

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(3) Constant Gross-Margin

Percentage NRV Method

(3) Constant Gross-Margin

Percentage NRV Method

What is the expected final sales value of total production during the accounting period?

Product A1: $120,000 Product B1: 346,500 Product C1: 241,500

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(3) Constant Gross-Margin

Percentage NRV Method

(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:

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(3) Constant Gross-Margin

Percentage NRV Method

(3) Constant Gross-Margin

Percentage NRV Method

Step 2:

Deduct the gross margin.

Sales Gross Cost of

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(3) Constant Gross-Margin

Percentage NRV Method

(3) Constant Gross-Margin

Percentage NRV Method

Step 3:

Deduct separable costs.

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Approach 2: Physical

Measure Method Example

Approach 2: Physical

Measure Method Example

$200,000 joint cost

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Learning Objective 5

Learning Objective 5

Explain why the sales value at

splitoff method is preferred

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Choosing a Method

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

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Choosing a Method

Choosing a Method

The physical-measure method is a more appropriate method to use in rate regulation. The NRV method should be used when there is

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Avoiding Joint Cost Allocation

Avoiding Joint Cost Allocation

Some companies refrain from allocating joint costs and instead carry their inventories

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Learning Objective 6

Learning Objective 6

Explain why joint costs

are irrelevant in a

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Irrelevance of Joint Costs

for Decision Making

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 A1, B1, and C1.

Selling Selling Additional Units price price costs

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Irrelevance of Joint Costs

for Decision Making

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

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Irrelevance of Joint Costs

for Decision Making

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

Split-off

Processed further

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Learning Objective 7

Learning Objective 7

Account for byproducts

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Accounting for Byproducts

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:

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Accounting for Byproducts

Example

Accounting for Byproducts

Example

Main Products Byproducts (Yards) (Yards)

Production 1,000 400

Sales 800 300

Ending inventory 200 100

Sales price $13/yard $1.00/yard

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Accounting for Byproducts

Example

Accounting for Byproducts

Example

Joint production costs for joint (main) products and byproducts:

Material $2,000

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Accounting for Byproducts

Method A

Accounting for Byproducts

Method A

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

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Accounting for Byproducts

Method A

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 $9,000

Less byproduct revenue 400 Less main product inventory 1,720

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Accounting for Byproducts

Method A

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

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Accounting for Byproducts

Method A

Accounting for Byproducts

Method A

What are the inventoriable costs?

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Journal Entries Method A

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

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Journal Entries Method A

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

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Journal Entries Method A

Journal Entries Method A

Cash or Accounts Receivable 10,400

Revenues 10,400

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Accounting for Byproducts

Method B

Accounting for Byproducts

Method B

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.

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Accounting for Byproducts

Method B

Accounting for Byproducts

Method B

Income Statement (Method B)

Revenues: Main product (800 × $13) $10,400

Byproducts sold 300

Total revenues $10,700

Cost of goods sold:

Joint production costs 9,000

Less main product inventory 1,800 $ 7,200

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Accounting for Byproducts

Method B

Accounting for Byproducts

Method B

What is the gross margin percentage? $3,200 ÷ $10,700 = 29.91%

What are the inventoriable costs?

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-0-Journal Entries Method B

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

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Journal Entries Method B

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

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Journal Entries Method B

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

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