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PA302 COST ACCOUNTING COST ELEMENTS

PA302 COST ACCOUNTING COST ELEMENTS. Prepared by : Wan Maimunah Wan Ishak Politeknik Sultan Haji Ahmad Shah, Kuantan. Specific Objectives :. Students will be able to classify the elements of cost. Manufacturing activities. m). 3. 1. 2. 4. RM. DE. Production OH.

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PA302 COST ACCOUNTING COST ELEMENTS

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  1. PA302 COST ACCOUNTING COST ELEMENTS Prepared by :Wan Maimunah Wan Ishak Politeknik Sultan Haji Ahmad Shah, Kuantan

  2. Specific Objectives : Students will be able to classify the elements of cost

  3. Manufacturing activities

  4. m) 3 1 2 4 RM DE Production OH Production Cost DL • Cost that cannot be charged directly to the product • Eg : Depre of machine Any expenditure other than RM or DL that are directly incurred for the particular product Eg : Hiring of special machine./tools Cost that can be directly charged to product Eg : Wood in furniture industries Cost for skilled or unskilled workers who involved directly in production Eg : Carpenters/Machine operators in furniture industries

  5. Examples :

  6. Specific Objectives 2 : Preparing Statement of Cost

  7. Company XXX Statement of Cost Direct material Opening stock of DM XXX + Purchase XXX - Closing stock of DMXXX DM used XXX Direct LabourXXX PRIMARY COST XXX Production OH : Indirect labour XXX Depre of machine XXX XXX XXX + Opening stock of WIPXXX - Closing stock of WIP XXX Production Cost XXX

  8. + Administration OH: Clerk salary XX Manager’s salary XXXX + Selling & Distribution OH : Sales expenses XX Promotion XX XX XXX + Opening stock of FG XX _ Closing stock of FG (XX) TOTAL COST XXXX

  9. Contoh Reflection : Do some reflection !!

  10. Exercise : Question 1 : Cost information of a company : Direct material 2,000,000 Indirect material 50,000 Advertising 95,000 Direct Labour 650,000 Indirect labour 170,000 Production supervisor’s salary 45,000 Depre for Factory building 65,000 Depre for office building 35,000 Factory machine’s depre 20,000 Maintenance department’s cost 100,000 Administration cost 150,000 Promotion 10,000 Sales commission 5,000 Office rent for salesman office 15,000

  11. Calculate : Total production OH cost Total direct cost Total production cost Total indirect cost

  12. Solution : a. Total production OH cost

  13. Solution : b. Total direct cost c. Total production cost

  14. Solution : d. Total indirect cost

  15. Question 2 : Prepare Statement of Cost based on the following cost information : RM Sales 45,000 Purchase of raw material 12,500 DL 9,500 Production OH 5,000 Freight inwards of RM 200 Factory supervising 700 Opening stock : RM 2,000 WIP 550 FG(1100 units) 1,650 Closing stock : RM 2,300 WIP 1,000 FG(3500 units) 5,250 Advertising & marketing cost is RM0.50/unit sold. There were 30,000 units produced.

  16. NIAT USAHA DOA TAWAKKAL BERJAYA Click here for extra notes

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