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Budgeting for Planning and Control
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Objectives 1. Discuss budgeting and its role After studying thisin planning, control, andchapter, decisionyou making. should 2. Define and prepare a master be able to: budget, identify its major components, and explain the interrelationships of its various components.
Continued
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Objectives 3. Describe flexible budgeting, and list the features that a budgetary system should have to encourage managers to engage in goalcongruent behavior. 4. Explain how activity-based budgeting works.
Planning
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Strategic Plan
Long-Term LongObjectives Short-Term ShortObjectives Short-Term ShortPlan
Budgets Feedback
Budgeting, Planning and Control
Planning Strategic Plan
Long-Term LongObjectives
Control Monitoring of Actual Activity
Short-Term ShortObjectives Short-Term ShortPlan
Budgets Feedback
Comparison of Actual with Planned
Investigation Corrective Action
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Definisi Anggaran Anggaran (budget) adalah rencana kuantitatif secara rinci untuk mendapatkan dan menggunakan sumber daya keuangan serta lainnya selama periode waktu tertentu yang akan datang
Keuntungan Penganggaran 1. Memaksa manajer untuk membuat perencanaan. 2. Menyediakan informasi yang dapat digunakan untuk meningkatkan pengambilan keputusan. 3. Memberikan standar untuk evaluasi kinerja.
4. Meningkatkan komunikasi dan koordinasi.
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Human Factors in Budgeting
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Keberhasilan penganggaran tergantung pada tiga faktor penting: 1. Manajemen puncak harus antusias dan
berkomitmen terhadap proses anggaran.
2. Manajemen puncak tidak harus menggunakan
anggaran untuk menekan karyawan atau menyalahkan mereka ketika sesuatu berjalan salah.
3. Target anggaran yang sangat dapat dicapai
biasanya disukai saat manajer dihargai berdasarkan pemenuhian target anggaran.
Akuntansi Pertanggungjawaban (Responsibility Accounting) Manajer harus bertanggung jawab pada itemitem- yang manajer benar-benar dapat kendalikan sampai batas yang signifikan.
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Dimensi Perilaku Penganggaran Goal congruence (keselarasan tujuan) Dysfunctional behavior (perilaku disfungsional)
Frequent feedback on performance ( Umpan balik berkala atas kinerja) Monetary and nonmonetary incentives (Insentif moneter dan nonmoneter)
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Dimensi Perilaku Penganggaran Participative budgeting (anggaran partisipatif) Realistic standards (standar yang realistis)
Controllability of costs ( kemampuan mengendalikan biaya) Multiple measures of performance (Beberapa ukuran kinerja)
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Participative budgeting has three potential problems: 1. Menetapkan standar yang terlalu tinggi atau terlalu rendah. 2. Membuat senjangan (slack) dalam anggaran. 3. Partisipasi semu (Pseudoparticipation)
International Aspects of Budgeting • Ketika sebuah perusahaan multinasional masuk ke dalam proses penganggaran setidaknya ada tiga masalah utama yang harus ditangani. .. 1. Fluktuasi nilai tukar mata uang asing.
2. Tingkat inflasi yang tinggi. 3. Kondisi ekonomi lokal dan kebijakan pemerintah.
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MASTER BUDGET
Anggaran induk (master budget) adalah rencana keuangan secara komprehensif untuk organisasi secara keseluruhan Biasanya, anggaran induk (master budget) disusun dalamperiode satu tahun dihubungkandengan tahun fiskal.
The Master Budget: An Overview
Ending Finished Goods Budget
Direct Materials Budget
Sales Budget
Production Budget
Selling and Administrative Budget
Direct Labor Budget
Manufacturing Overhead Budget
Cash Budget
Budgeted Financial Statements
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Sales Budget Production Budget Direct Materials Purchases Budget
Direct Labor Budget
Cash Budget
Overhead Budget
The Master Budget
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Sales Budget Production Budget Direct Materials Purchases Budget Ending FG Inventory Budget
Direct Labor Budget
Overhead Budget
(Unit cost)
Cash Budget
The Master Budget
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Sales Budget Production Budget Direct Materials Purchases Budget
Direct Labor Budget
Ending FG Inventory Budget
Overhead Budget
Selling and Administrative Expenses Budget`
Cost of Goods Sold Budget Budgeted IS Cash Budget
The Master Budget
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A master budget can be dividing into operating (operasional) and financial (keuangan) budgets.
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Anggaran operasional (Operating budgets) mendeskripsikan aktivitas yang menghasilkan pendapatan bagi perusahaan.
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Anggaran keuangan (Financial budgets)describe merinci Operating budgets aliran kas masuk dan keluar the income-generating danactivities posisi keuangan secara of a firm. keseluruhan.
Preparing the Operating Budget Sales budget Production budget Direct materials purchases budget Direct labor budget Overhead budget Selling and administrative expenses budget Ending finished goods inventory budget Cost of goods sold budget
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Schedule 1 Texas Rex, Inc. Sales Budget For the Year Ended December 31, 2004 Quarter 1 2 3 4 Year Units 1,000 1,200 1,500 2,000 5,700 Unit selling price x $10 x $10 x $10 x $10 x $10 Budgeted sales $10,000 $12,000 $15,000 $20,000 $57,000
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Computing Units to be Produced Units to be produced = Expected unit sales + Units in ending inventory – Units in beginning inventory
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Schedule 2 Texas Rex, Inc. Production Budget For the Year Ended December 31, 2004 Quarter 1 2 3 4 Sales (Schedule 1) 1,000 1,200 1,500 2,000 Desired ending inventory 240 300 400 200 Total needs 1,240 1,500 1,900 2,200 Less: Beginning inventory -180 -240 -300 -400 Units to be produced 1,060 1,260 1,600 1,800
Year 5,700 200 5,900 -180 5,720
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Computing Units to be Purchased Purchases = Direct materials needed for production + Desired direct materials in ending inventory – Direct materials in beginning inventory
Schedule 3 Texas Rex, Inc. Direct Materials Purchases Budget For the Year Ended December 31, 2004 Quarter 1 2 3 4 Units to be produced (Schedule 2) 1,060 Direct materials per unit x 1 Production needs 1,060 Desired ending inventory 126 Total needs 1,186
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Year
1,260
1,600
1,800
5,720
x 1 1,260
x 1 1,600
x 1 1,800
x 1 5,720
160 1,420
180 1,780
106 1,906
106 5,826
Continued
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1 Total needs Less: beginning inventory Direct materials to be purchased Cost per pound Total purchase cost plain t-shirts
Quarter 2 3
4
Year
1,186
1,420
1,780
1,906
5,826
-58
-126
-160
-180
-58
1,128 x $3
1,294 x $3
1,620 x $3
1,726 5,768 x $3 x $3
$3,384
$3,882
$4,860
$5,178 $17,304
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Schedule 3 Texas Rex, Inc. Direct Materials Purchases Budget For the Year Ended December 31, 2004 Quarter 1 2 3 4 Units to be produced (Schedule 2) 1,060 Direct materials per unit x 5 Production needs 5,300 Desired ending inventory 630 Total needs 5,930
Year
1,260
1,600
1,800
5,720
x 5 6,300
x 5 8,000
x 5 9,000
x 5 28,600
800 7,100
900 8,900
530 530 9,530 29,130
Continued
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1
Quarter 2 3
4
Total needs 5,930 7,100 8,900 9,530 Less: beginning inventory -390 -630 -800 -900 Direct materials to be purchased 5,540 6,470 8,100 8,630 Cost per ounce x $0.20 x $0.20 x $0.20 x $0.20 Total purchase cost of ink $ 1,108 $ 1,294 $ 1,620 $ 1,726 Total direct materials purpurchases cost
$4,492
$5,176
Year 29,130
-390 28,740 x $0.20 $ 5,748
$6,480 $6,904 $23,052
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Schedule 4 Texas Rex, Inc. Direct Labor Budget For the Year Ended December 31, 2004 Quarter 1 2 3 4 Year Units to be produced (Schedule 2) 1,060 1,260 1,600 1,800 5,720 Direct labor time per unit (hr.) x 0.12 x 0.12 x 0.12 x 0.12 x 0.12 Total hours needed 127.2 151.2 192 216 686.4 Average wage per hour x $10 x $10 x $10 x $10 x $10 Total direct labor cost $1,272 $1,512 $1,920 $2,160 $6,864
Schedule 5 Texas Rex, Inc. Overhead Budget For the Year Ended December 31, 2004 Quarter 1 2 3 4 Budgeted direct labor hours (Schedule 4) 127.2 Variable overhead rate x $5 Budgeted variable overhead $ 636 Budgeted fixed overhead 1,645 Total overhead $2,281
151.2 x
$5
192 x
$5 x
216 $5 x
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Year 686.4 $5
$ 756
$ 960 $1,080 $ 3,432
1,645 $2,401
1,645 1,645 6,580 $2,605 $2,725 $10,012
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Schedule 6 Texas Rex, Inc. Ending Finished Goods Inventory Budget For the Year Ended December 31, 2004 Unit-cost computation: Direct materials ($3 + $1) Direct labor (0.12 hr. @ $10) Overhead: Variable (0.12 hr. @ $5) Fixed (0.12 hr. @ $9.59) Total unit cost Finished goods: Logo T-shirts
$4.00 1.20 0.60 1.15 $6.95
Units
Unit Cost
Total
200
$6.95
$1,390
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Schedule 7 Texas Rex, Inc. Cost of Goods Sold Budget For the Year Ended December 31, 2004 Direct materials used (Schedule 3) Direct labor used (Schedule 4) Overhead (Schedule 5) Budgeted manufacturing costs Beginning finished goods Goods available for sale Less: Ending finished goods (Sched. 6) Budgeted cost of goods sold
$22,880 6,864 10,012 $39,756 1,251 $41,007 - 1,390 $39,617
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Schedule 8 Texas Rex, Inc. Selling and Administrative Expenses Budget For the Year Ended December 31, 2004 1
Quarter 2 3
4
Year
Planned sales in units (Schedule 1) 1,000 1,200 1,500 2,000 5,700 Variable selling and administrative expenses per unit x $0.10 x $0.10 x $0.10 x $0.10 x $0.10 Total variable expenses $ 100 $ 120 $ 150 $ 200 $ 570 Continued
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1
Quarter 2 3
4
Year
Fixed selling and administrative expenses: Salaries $1,420 $1,420 $1,420 $1,420 $5,680 Utilities 50 50 50 50 200 Advertising 100 200 300 500 1,100 Depreciation 150 150 150 150 600 Insurance ----500 --500 Total fixed expenses $1,720 $1,820 $2,420 $2,120 $8,080 Total selling and administrative expenses $1,820 $1,940 $2,570 $2,320 $8,650
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Schedule 9 Texas Rex, Inc. Budgeted Income Statement For the Year Ended December 31, 2004 Sales (Schedule 1) Less: Cost of goods sold (Schedule 7) Gross margin Less: Selling and administrative expenses (Schedule 8) Operating income Less: Interest expense (Schedule 10) Income before taxes Less: Income taxes (Schedule 10) Net income
$57,000 -39,617 $17,383 -8,660 $ 8,733 - 60 $ 8,673 -2,550 $ 6,123
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Preparing Financial Budgets The cash budget The budgeted balance sheet The budget for capital expenditures
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The Cash Budget Beginning cash balance Add: Cash receipts Cash available Less: Cash disbursements Less: Minimum cash balance Cash surplus (deficiency) Add: Cash from loans Less: Loan repayments Add: Minimum cash balance Ending cash balance
xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx
The Cash Budget Texas Rex, Inc. 1st Quarter Beginning cash balance $ 5,200 Add: Cash receipts (cash and credit sales) 10,600 Total cash available 15,800 Less: Cash disbursements -15,777 Less: Minimum cash balance - 1,000 Total cash needs -16,777 Excess or deficiency (-) of cash - 977 Add: Cash from loans 1,000 Less: Loan repayments ---Ending cash balance $ 1,023
$1,000 (loan) - $977 + $1,000 (minimum cash balance)
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Source
Texas Rex, Inc. Cash Receipts Pattern for 2004 Quarter 1 Quarter 2 Quarter 3 Quarter 4
Cash sales $ 2,500 Received on account from: Quarter 4, 2003 1,350 Quarter 1, 2004 6,750 Quarter 2, 2004
Quarter 3, 2004 Quarter 4, 2004 ---Total cash receipts $10,600
$ 3,000
$ 3,750
750 8,100
900
---$11,850
10,125 --$14,775
$ 5,000
1,125 13,500 $19,625
Schedule 11 Texas Rex, Inc. Budgeted Balance Sheet December 31, 2004
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Assets Current assets: Cash Accounts receivable Materials inventory Finished goods inventory Total current assets Property, plant, and equipment: Land Building and equipment Accumulated depreciation Total property, plant, and equipment Total assets Continued
$ 7,503 1,500 424 1,390 $10,817 $ 1,100 36,500 -7,760 29,840 $40,657
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Liabilities and Owners’ Equity Current liabilities: Accounts payable Owners’ equity: Retained earnings $39,276 Total owners’ equity Total liabilities and owners’ equity
$ 1,381 39,276 $40,657
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Menggunakan Anggaran untuk Evaluasi Kinerja Zero Based Budgeting Anggaran berbasis nol mengharuskan manajer untuk menyesuaikan semua pengeluaran yang dianggarkan, bukan hanya perubahan anggaran dari tahun sebelumnya.
Kebanyakan manajer berpendapat bahwa anggaran berbasis nol terlalu memakan waktu dan mahal untuk menyesuiakannya secara tahunan.
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Static Budgets versus Flexible Budgets Anggaran statis (static budget ) adalah anggaran untuk satu tingkat kegiatan tertentu. Anggaran fleksibel (flexible budget ) adalah anggaran yang menyediakan perusahaan dengan kemampuan untuk menghitung biaya yang diperkirakan untuk berbagai tingkat kegiatan.
Performance Report Quarterly Production Costs Actual Units produced Direct materials cost Direct labor costs Fixed overhead: Variable: Supplies Power Fixed: Supervision Depreciation Total
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Budgeted Variance
1,200
1,060
140 F
$4,830 1,440
$4,240 1,272
$590 U 168 U
535 170
477 159
58 U 11 U
1,055 540 $8,570
1,105 540 $7,793
-50 F --$777 U
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The Uses of Flexible Budget Anggaran fleksibel dapat digunakan untuk
menyiapkan anggaran sebelum fakta/bukti untuk tingkat aktivitas yang diharapkan. Anggaran fleksibel dapat digunakan untuk
menghitung berapa biaya yang seharusnya untuk tingkat aktivitas yang sesungguhnya. Anggaran fleksibel dapat membantu manajer
menangani ketidakpastian dengan memungkinkan mereka untuk melihat hasil yang diperkirakan untuk berbagai tingkat kegiatan.
Flexible Production Budget Production Costs
Variable overhead: Direct materials Direct labor Variable overhead: Supplies Power Total variable costs Fixed overhead: Supervision Depreciation Total fixed costs Total production costs
Variable Cost per Unit
Range of Production (units) 1,000 1,200 1,400
$4.00 1.20
$4,000 1,200
$4,800 $5,600 1,440 1,680
0.45 0.15 $5.80
450 150 $5,800
540 630 180 210 $6,960 $8,120
$1,105 $1,105 $1,105 540 540 540 $1,645 $1,645 $1,645 $7,445 $8,605 $9,765
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Performance Report Quarterly Production Costs Units produced Direct materials Direct labor Variable overhead: Supplies Power Total variable costs
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Actual
Budget
1,200
1, 200
----
$4,830 1,440
$4,800 1, 440
$30 U ----
535 170 $6,975
540 180 $6,960
-5 F -10 F $15 F
Continued
Variance
Performance Report Quarterly Production Costs
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Actual
Budget
1,200
1, 200
----
Fixed overhead: Supervision 1,055 Depreciation 540 Total fixed costs $1,595 Total production costs $8,570
1,105 540 $1,645 $8,605
-50 F ---$50 F $35 U
Units produced
Variance
Activity-Based Budgeting (Penganggaran berbasis Aktivitas) Activity flexible budgeting and Activity static budgeting
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Anggaran Aktivitas Statis 3 (tiga) langkah menyusun anggaran aktivitas statis: 1. Mengidentifikasi aktivitas dalam organisasi 2. Memperkirakan permintaan setiap output
aktivitas 3. Menilai biaya sumber daya yang diperlukan
untuk memproduksi tingkat aktivitas.
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Anggaran Aktivitas Statis Fokus pada memperkirakan beban pekerjaan (permintaan) untuk tiap aktivitas dan kemudian menganggarkan sumber daya yang dibutuhkan untuk menopang beban kerja ini.
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Activity Flexible Budgeting Penganggaran aktivitas fleksibel (Activity flexible budgeting) adalah prediksi/identifikasi berapa biaya aktivitas yang terjadi/perubahan biaya aktivitas sejalan perubahan keluaran/output aktivitas.
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Flexible Budget: Direct Labor Hours Cost Formula Fixed
Direct Labor Hours
Variable
10,000
20,000
Direct materials
---
$10
$100,000
$200,000
Direct labor
---
8
80,000
160,000
$ 20,000
3
50,000
80,000
Machining
15,000
1
25,000
35,000
Inspections
120,000
---
120,000
120,000
50,000
---
50,000
50,000
220,000
---
220,000
220,000
$425,000
$22
$645,000
$865,000
Maintenance
Setups Purchasing Total
Activity Flexible Budget Driver: Direct Labor Hours Formula Fixed Variable
Level of Activity 10,000 20,000
Direct materials
---
$10
$100,000
$200,000
Direct labor
---
8
80,000
160,000
$0
$18
$180,000
$360,000
Subtotal
Driver: Machine Hours Maintenance
Machining Subtotal
Fixed
Variable
8,000
16,000
$20,000
$5.50
$64,000
$108,000
15,000
2.00
31,000
47,000
$35,000
$7.50
$95,000
$155,000
Continued
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Activity Flexible Budget Driver: Number of Setups Inspections
Fixed
Variable
25
30
$80,000
$2,100
$132,500
$143,000
---
1,800
45,000
54,000
$80,000
$3,900
$177,500
$197,000
15,000
25,000
$226,000
$236,000
$678,500
$948,000
Setups Subtotal
Driver: Number of Orders Fixed Purchasing Total
$211,000
Variable $
1
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Activity-Based Performance Report Actual Costs
Budgeted Costs
Budget Variance
$101,000
$100,000
$ 1,000 U
Direct labor
80,000
80,000
---
Maintenance
55,000
64,000
9,000 F
Machining
29,000
31,000
2,000 F
Inspections
125,500
132,500
7,000 F
46,500
45,000
1,500 U
220,000
226,000
6,000 F
$657,000
$678,500
$21,500 F
Direct materials
Setups Purchasing Total
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Varian untuk Aktivitas Inspeksi Activity
Actual Cost
Budgeted Cost
Variance
Inspection:
Fixed Variable Total
$ 82,000
$ 80,000
$2,000 U
43,500
52,500
9,000 F
$125,500
$132,500
$7,000 F
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The End
