Cost Accounting
Meeting 1 MRF’s File
COST ACCOUNTING “An Introduction to Cost Terms and Purposes” Assistant Lecturer: M. Ryan Firmansyah
Problem 1 (Quiz 1 September 8, 2009)
Consider the following costs that were incurred during the current year. Evaluate whether the cost is: 1. A product cost or a period cost 2. Variable or fixed in terms of behavior 3. For the product cost, whether it is classified as direct material, direct labor, or manufacturing overhead
No. 1 Descriptions Product Cost Period Variable Fixed DM Product Cost DL MOH
Tire cost incurred by Ford Motor Company Sales Commissions paid to the sales force of 2 Dell Computer Wood glue consumed in the manufacture of 3 Thomasville funiture Hourly wages of rifinery security guards 4 employed by ExxonMobile Corporations The salary of a financial vice president of 5 Hewlett Packard 6 Advertising costs of Coca Cola Straight-line depreciation on factory 7 machinery of Boein Corporation Wages of assembly-line personnel of 8 Whirpool Corporation Delivery costs on customer shipments of Ben 9 & Jerry's ice cream Newprints consumed in printing The New 10 York Times 11 Plant insurance costs of Texas Instruments Glass costs incurred in light-bulb 12 manufacturing of General Electric
Problem 2 (Mid-Semester Examination 2010/2011)
The following items (in millions) pertain to Chen Corporation: Balance as of January 1, 2009 $30 $10 $40 $50 $40 Balance as of December 31, 2009 $5 $2 $12 $30 $20
Direct materials Work in Process Finished goods Accounts receivable Accounts payable
“Sebaik-baik manusia diantaramu adalah yang paling banyak manfaatnya bagi orang lain” (HR. Imam Bukhari)
Meeting 1 MRF’s File
Plant utilities Indirect manufacturing labor Depreciation – plant and equipment Revenues Miscellaneous manufacturing overhead Marketing, distribution, and customer service cost Direct materials purchased Direct manufacturing labor Plant supplies used Property taxes on plant
For Year 2009 $5 $20 $9 $350 $10 $90 $80
COST ACCOUNTING “An Introduction to Cost Terms and Purposes” Assistant Lecturer: M. Ryan Firmansyah
Problem 1 (Quiz 1 September 8, 2009)
Consider the following costs that were incurred during the current year. Evaluate whether the cost is: 1. A product cost or a period cost 2. Variable or fixed in terms of behavior 3. For the product cost, whether it is classified as direct material, direct labor, or manufacturing overhead
No. 1 Descriptions Product Cost Period Variable Fixed DM Product Cost DL MOH
Tire cost incurred by Ford Motor Company Sales Commissions paid to the sales force of 2 Dell Computer Wood glue consumed in the manufacture of 3 Thomasville funiture Hourly wages of rifinery security guards 4 employed by ExxonMobile Corporations The salary of a financial vice president of 5 Hewlett Packard 6 Advertising costs of Coca Cola Straight-line depreciation on factory 7 machinery of Boein Corporation Wages of assembly-line personnel of 8 Whirpool Corporation Delivery costs on customer shipments of Ben 9 & Jerry's ice cream Newprints consumed in printing The New 10 York Times 11 Plant insurance costs of Texas Instruments Glass costs incurred in light-bulb 12 manufacturing of General Electric
Problem 2 (Mid-Semester Examination 2010/2011)
The following items (in millions) pertain to Chen Corporation: Balance as of January 1, 2009 $30 $10 $40 $50 $40 Balance as of December 31, 2009 $5 $2 $12 $30 $20
Direct materials Work in Process Finished goods Accounts receivable Accounts payable
“Sebaik-baik manusia diantaramu adalah yang paling banyak manfaatnya bagi orang lain” (HR. Imam Bukhari)
Meeting 1 MRF’s File
Plant utilities Indirect manufacturing labor Depreciation – plant and equipment Revenues Miscellaneous manufacturing overhead Marketing, distribution, and customer service cost Direct materials purchased Direct manufacturing labor Plant supplies used Property taxes on plant
For Year 2009 $5 $20 $9 $350 $10 $90 $80