MODUL PERKULIAHAN
Akuntansi
Manajemen
Basic Cost Management
Concepts and Accounting for
Mass Customization
Operations
Fakultas
Program Studi
Fakultas Ekonomi dan
Bisnis
S1 Manajemen
2013
1
Tatap Muka
02
Kode MK
Disusun Oleh
MK 84033
Suryadharma Sim, SE, M. Ak
Abstract
Kompetensi
What Do We Mean by a Cost?
Costs on Financial Statements.
Manufacturing Cost Flows.
Basic Cost Management Concepts:
Different Costs for Different Purposes.
Costs in the Service Industry.
Mampu menjelaskan dan
mengidentifikasi perbedaan akuntansi
biaya konvensional dan kontemporer .
Akuntansi Manajemen
Suryadharma Sim, SE, M. Ak
Pusat Bahan Ajar dan eLearning
http://www.mercubuana.ac.id
Product Costs, Period Costs, and Expenses
An important issue in both managerial and financial accounting is the timing with which the
costs of acquiring assets or services are recognized as expenses. An expense is defined as
the cost incurred when an asset is used up or sold for the purpose of generating revenue.
The terms product cost and period cost are used to describe the timing with which various
expenses are recognized.
A product cost is a cost assigned to goods that were either purchased or manufactured for
resale. The product cost is used to value the inventory of manufactured goods or
merchandise until the goods are sold. In the period of the sale, the product costs are
recognized as an expense called
cost of goods sold. The product cost of merchandise
inventory acquired by a retailer or wholesaler for resale consists of the purchase cost of the
inventory plus any shipping charges. The product cost of manufactured inventory includes all
of the costs incurred in its manufacture. For example, the labour cost of a production
employee at
Comet Computer Company is included as a product cost of the computers
manufactured.
Exhibit 2–1 illustrates the relationship between product costs and cost-of-goods-sold
expense.
2013
2
Akuntansi Manajemen
Suryadharma Sim, SE, M. Ak
Pusat Bahan Ajar dan eLearning
http://www.mercubuana.ac.id
Costs on Financial Statements
The distinction between product costs and period costs is emphasized by examining
financial statements from three different types of firms.
Income Statement
Exhibit 2–3 displays recent income statements, in highly summarized form, from Caterpillar,
Inc. , Wal-Mart Stores, Inc. , and
WestJet Airlines Ltd. These companies are from three
different industries. Caterpillar is a heavy equipment manufacturer. Wal-Mart Stores is a
large retail firm with 4,022 locations throughout the United States and 2,757 locations
internationally, including 309 stores across Canada. Representing the service industry is
WestJet Airlines, a major airline based in Western Canada.
Selling and administrative costs are period costs on all three income statements shown in
Exhibit 2–3. For example, Caterpillar lists $4.578 billion of selling, general, and
administrative expenses.
For Caterpillar, the costs of manufactured inventory are product costs. All costs incurred in
manufacturing finished products are stored in inventory until the time period when the
products are sold. Then the product costs of the inventory sold become cost of goods sold,
an expense, on the income statement.
Product costs for Wal-Mart include all costs of acquiring merchandise inventory for resale.
These product costs are stored in inventory until the time period during which the
merchandise is sold. Then these costs become cost of goods sold.
There are no inventoried product costs at WestJet Airlines . Although this firm does engage
in the production of air transportation services, its service output is consumed as soon as it
is produced. Service industry firms, such as WestJet Airlines, TD Canada Trust ,
Fairmont
Hotels & Resorts, Manulife Insurance, and Tim Hortons , generally refer to the costs of
producing services as operating expenses. Operating expenses are treated as period costs
and are expensed during the period in which they are incurred. WestJet Airlines includes
costs such as flight operations, aircraft fuel, and aircraft maintenance in operating expenses
for the period.
2013
3
Akuntansi Manajemen
Suryadharma Sim, SE, M. Ak
Pusat Bahan Ajar dan eLearning
http://www.mercubuana.ac.id