March 25
MOJAKOE
2013
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Akuntansi Manajemen
MOJAKOE Question I : Cost-Volume-Profit Analysis PT. Newstar is distributors that sells ‘Me-Pad’ a brand new type of gadget at an exhibition. Newstar plans to sell ‘Me-Pad’ for $500 each. The company purchase Me-Pad from manufacturer at $350 each, with the privilege of returning any unsold units for a full refund. The exhibition offer Newstar with 2 alternatives : 1. A fixed payment of %5,000 during exhibition 2. 10% of total revenues earned during exhibition Assume Newstar incur no other costs. Required : 1. Calculate BEP in unit for option 1 and 2 2. At what level of unit sold will Newstar earn the same operating income under either option? For what range of unit sales will Newstar prefer option 1 over option 2? 3. Calculate margin of safety and degree of operating leverage at sales of $100 units for two rental option 4. Give your analysis on your answer to requirement 3
Question II : Master Budget! PT. ABC is a local t-shirt manufacturer. In 2012 management projected that they can sell 8000 units of various types t-shirt. Data required to develop this year’s budget is as follows : a. Finished goods inventory on January 1 is 100 units, each costing Rp15.000. Management planned to maintain its current level of finished goods inventory at the end of 2012. b. Inputs include the following : Price Fabric Rp 10.000 per meter Dye Rp 1.000 per ounce Labor Rp 10.000 per DLH
Quantity 1 meter per shirt 3 ounces per shirt 0.25 DLH per shirt
Inventory at Jan 1 75 meter at Rp9.000 100 ounces at Rp750
c. Overhead costs for 2012 are estimated for fixed and variable components: (measured in direct labor hour (DLH)). Overhead are allocated to finish product using direct labor hour as the cost allocation base. Fixed Cost Component Variable Cost Component Supplies Rp 500 Power Rp 1.000 Maintenance Rp 20.000.000 Supervision Rp 60.000.000 Depreciation Rp 75.000.000 Other Rp 15.000.000 -
MOJAKOE Required : Prepare a partial annual operating budget for the year 2012 : (1) (2) (3) (4) (5)
Production Budget Direct Material Usage Budget Direct Labor Cost Budget Manufacturing Overhead Cost Budget Cost of Goods Sold Budget
Question III : Cash Budget Champion Hardware is a hardware wholesaler. All sales are credit sales with the term of payment 5/10, n/end of month. Information about the store’s operation follows :
December 2011 sales amounted to $500.000 Sales are budgeted at $540.000 for January 2012 and $500.000 for February 2012 Collection are expected to be 30% in the month of sale within the discount period, 30% also in month of sale but after the discount period, and 38% in the month following the sale. Two percent of sales are expected to uncollectible. Bad debt expense is recognized monthly. Cost of goods sold is 75% of sales. A total of 70% of the merchandise for resale is purchased in the month prior to the month of the sale, and 30% is purchased in the month of the sale. Payment for merchandise is made in the month following the purchase. The company always take the benefit of 2% discount offered by the supplier for payment before the 10th of the month. Annual operating expenses for 2012 is budgeted for $1.600.000. From this amount $1.000.000 is fixed cost which include $200.000 depreciation expense. The remaining operating expense is considered variable. All operating expense will be paid as incurred. The budgeted annual operating expenses is based on the expected annual sales $6.000.000
The company’s balance sheet of December 31,2011 is as follows : Champion Hardware Inc. Balance Sheet December 31, 2011 Assets Cash
$
44.000
Account Receivable (net $75.000 allowance for uncollectible accounts)
$
190.000
Inventory
$
280.000
Property and Equipment (net of $1.180.000 accumulated depreciation)
$
1.724.000
Total Assets
$
2.238.000
MOJAKOE Liabilities and Stockholder’s Equity Account Payable
$
324.000
Common Stock
$
1.590.000
Retained Earning
$
324.000
Total Liabilities and Stockholder’s Equity
$
2.238.000
Required : 1. Prepare a cash budget for January 2012 in detail (show your computation) to show the expected cash balance at the end of January 2012. 2. Suppose you are preparing a budgeted balance sheet as of January 31, 2012. Please show the balance for the following account : a. Cash b. Account Receivable c. Account Payable 3. If the company has minimum cash balance policy of $40.000, how this will affect your answer.
Question IV : Flexible Budgets, Direct-Cost Variances, and Overhead-Cost Variances The following information is provided to assist you in evaluating the performance of Odysius, Inc. : Actual Cost: Direct Material Purchased and Used
$ 188,700 (102,000 pounds)
Direct Labor
$ 140,000 (10,700 hours)
Manufacturing Overhead
$ 204,000 (61% is variable)
Standard Cost per Unit: Direct Material
$ 1.65x5 pounds per unit output
Direct Labor
$ 14.00 per hour x 0.5 hour/unit
Variabel Overhead
$ 11.90 per direct-labor hour
Production Budget: Direct Material
$ 165,000
Direct Labor
$ 140,000
Manufacturing Labor
$ 199,000
Variable overhead is applied on the bases of direct – labor hours. The company’s actual production and sales was 21,000 units, which was 17,5% market share. Average selling price
MOJAKOE was $38. The company expected to get 20% market share. The exacted market for this product is 100.000 units. Its selling price is budgeted at $40. Required : Prepare a complete various report and analysis consists of : a. b. c. d. e. f. g. h. i.
Direct-material price and quantity variances Direct-labor rate&efficiency variances Variable-overhead spending&efficiency variances Fixed-overhead spending & production volume variances Sales price variance Sales volume variance Sales quantity variance Market Share and Market Size Variance The flexible budget variance
Question V : Customer – Profitability Analysis VITALIFE is a local distributor of herbal medicine products. With the growing competitiveness in the industry, VITALIFE’s new controller, Budi Black, wants to use ABC system instead of traditional costing to examine individual customer profitability within each distribution market. He identified there are five activities related with customer cost: order processing, line-item ordering, store deliveries, carton deliveries, and shelf-stocking. He focuses first on the Blue Green Co. single store distribution market. Four customers are used to exemplify the insight availability with the ABC approach. For the February 2012, he listed the following data for those selected customers :
Average Revenue per Delivery Average Cost of Goods Sold per Delivery Total Orders Average Line Items per Order Total Store deliveries Average cartons shipped per store delivery Average hours of shelfstocking per store delivery
Arfi Pharmacy
Blink Pharmacy
Chand Pharmacy
Durum Pharmacy
Rp 10.500.000
Rp 8.400.000
Rp 6.300.000
Rp 6.300.000
Rp 8.750.000
Rp 7.350.000
Rp 6.300.000
Rp 5.775.000
12
13
16
10
8
9
7
18
10
7
5
10
15
22
14
20
3
0
5
0.5
He also collects the following information related with customer’s cost activities: Activity Area Order Processing Line-item ordering Store deliveries
Cost Driver Rate in 2012 Rp 140.000 per order Rp 10.500 per line item Rp 175.000 per store delivery
MOJAKOE Carton deliveries Shelf-stocking
Rp 3.500 per carton Rp 56.000 per stocking hour
Required : 1. Compute customer-level operating income using ABC approach for those selected customers. 2. Based on the above calculations, what opinion shoul Budi Black consider with regard to those selected individual customers.
Questions I : Cost-Volume-Profit Analysis 1. Break Even Point for Option I Total Revenue = Total Cost $500 x Q
= (350 x Q) + $ 5,000
Q
= 33,33 atau 34 (pembulatan keatas)
Break Even Point for Option II
Total Revenue = Total Cost $500 x Q
= (350 x Q) + (10% x 500 x Q)
100 Q
=0
Maka Q
=0
Hal ini terjadi karena semua cost bersifat variable sehingga biaya hanya akan terjadi apabila PT. Newstar memproduksi atau menjual sebuah produk. 2. Operating Income Opt1 = Operating Income Opt2 500Q – 350Q – 5,000 = 500Q – 350Q – 50Q Maka nilai Q
= 100
3. Sales Quantity = 100 unit Margin of Safety (MS) Opt1
MS = Budgeted Sales Quantity - QBEP
Degree of Operating Leverage (DOL) DOL =
𝐶𝑜𝑛𝑡𝑟𝑖𝑏𝑢𝑡𝑖𝑜𝑛 𝑀𝑎𝑟𝑔𝑖𝑛 𝑂𝑝𝑒𝑟𝑎𝑡𝑖𝑛𝑔 𝐼𝑛𝑐𝑜𝑚𝑒
MS = 100 unit – 34 unit MS = 66 unit atau $33,000
DOL =
500𝑥100 − 350𝑥100 500𝑥100 − 350𝑥100 − $ 5,000
DOL = 1.5 Opt 2
MS = Budgeted Sales Quantity - QBEP MS = 100 unit – 0 unit
DOL =
500𝑥100 − 350𝑥100 − (50𝑥100) 500𝑥100 − 350𝑥100 − (50𝑥100)
DOL = 1
MS = 100 unit atau $50,000 4. Margin of Safety menunjukkan seberapa besar penurunan didalam pendapatan atau kuantitas yang dijual agar tidak mencapai kerugian. Hal ini berarti, batas maksimal
MOJAKOE pendapatan PT. Newstar dapat menurun atau penjualan berukurang adalah sebesar hingga $33,000 dan 66 unit pada Option I; jika lebih maka PT. Newstar akan mengalami kerugian. Option II; batas maksimal pendapatan dan penjualan dapat turun agar tidak mengalami kerugian adalah sebsar $50,000 dan 100unit. Degree of Leverage menggambarkan efek dari adanya fixed cost terhadap perubahan operating income akibat adanya perubahan pada unit yang terjual ataupun contribution margin. Semakin besar fixed cost yang ada, maka DOL akan semakin besar. Option 1 : DOL = 1.5 artinya 1% perubahaan pada penjualan dan contribution margin akan menghasilkan perubahan sebesar 1,5 kali pada operating income. Option 2 : DOL = 1 artinya 1% perubahaan pada penjualan dan contribution margin akan menghasilkan perubahan sebesar 1 kali pada operating income. Questions II : Master Budget! a. PRODUCTION BUDGET PT. ABC Production Budget (in Units) For the Year Ending December 31, 2012
Budgeted Unit Sales Add Target Ending Inventory Total Required Units Deduct Beginning Inventory Units of Finished Good to be Produced
Product 8,000 100 8,100 (100) 8,000
b. DIRECT MATERIAL USAGE BUDGET PT. ABC Direct Material Usage Budget (in Quantity and Rupiahs) For the Year Ending December 31, 2012 Fabric Dye Physical Units Budget Direct Material Required
(+) ending inventory DM required (-) beginning inventory DM to be purchased Cost Budget Available from Beginning DM Fabric Dye To be Purchased this period Fabric (7,925 x Rp 10,000) Dye (23,900 x Rp 1000) Direct Material to be Used
8,000 meter (8,000 x 1 meter/unit) 0 8,000 (75) 7,925
Total
24,000 ounces (8,000 x 3 ounces/unit) 0 24,000 (100) 23,900
Rp 675,000 Rp 75,000 Rp 79,250,000 Rp 79,925,000
c. DIRECT LABOR COST BUDGET
Rp 23,900,000 Rp 23,975,000
Rp 103,900,000
MOJAKOE PT. ABC Direct Labor Cost Budget For the Year Ending December 31, 2012
Product Unit Produced DLH/unit Total Hours Wages per Hours Total DL Cost
8,000 0.25 DLH/unit 2,000 hours Rp 10,000 Rp 20,000,000
d. MANUFACTURING OVERHEAD COST BUDGET PT. ABC Manufacturing Overhead Cost Budget For the Year Ending December 31, 2012
Fixed Cost Supplies ( Rp 500 x 2000 DLH) Power ( Rp 1000 x 2000 DLH) Maintenance Supervision Depreciation Other Total MOH
-
Variable Cost Rp 1,000,000
Total
Rp 2,000,000 Rp 20,000,000 Rp 60,000,000 Rp 75,000,000 Rp 15,000,000 Rp 170,000,000
Rp 3,000,000
Rp 173,000,000
e. COST OF GOODS SOLD BUDGET PT. ABC Direct Labor Cost Budget For the Year Ending December 31, 2012
Beginning Inventory
Rp 1,500,000
Cost of Goods Manufactured
DM Used DL Used MOH COGM
Rp 103,900,000 Rp 20,000,000 Rp 173,000,000 Rp 296,900,000
Cost of Goods Available for Sale
Rp 298,400,000
Deduct Ending Inventory* (Rp 37,125 x 100 unit)
Rp ( 3,712,500)
Cost of Goods Sold
Rp 294,687,500
*) Cost of Ending Inventory/Unit = Cost per Unit
Input Allowed
Total
MOJAKOE Fabric Rp 10,000 1 metre Rp 10,000 Dye Rp 1,000 3 ounces Rp 3,000 Labor Rp 10,000 0,25 DLH Rp 2,500 MOH Rp 86,5001 0,25 DLH Rp 21,625 Cost of Ending Invt/ unit Rp 37,125 1)MOH dialokasikan dengan cost-allocation base nya adalah DLH. Total budgeted DLH adalah 2000 hours sedangkan budgeted MOH Rp 173,000,000 maka MOH rate nya adalah Rp 86,500. QUESTIONS III: Cash Budget a. Champion Hardware Cash Budget January 2012 Cash Balance, Dec 31 2011 Add Receipts : 30% cash received within discount period (30%x95%x Rp540,000) 30% cash received after discount period (30%x Rp540,000) 38% cash received from previous period (38% x Rp 500,000) Total Cash Receipt Cash Available for Needs Deduct Cash Disbursement : Cash paid to supplier for January 2012 (75%x 70%x 98% x 540,000) Cash paid to supplier for December 2011 (75%x30%x 98%x 500,000) Cash paid to operating expense (540,000/6,000,000) * (1,600,000 – 200,000) Total Cash Disbursement Ending Cash Balance b. Cash Account Receivable = Beg AR – Collection + AR in January = 190,000 – 190,000 + (38% x Rp540,000) Account Payable = Beg AP – Payment + AP in January = 324,000 – 388,080 + {(75%x70%x98%xRp500,000)+ (75%x30%x98%xRp 540,000)}
44,000 153,900 162,000 190,000 505,900 549,900 (277,830) (110,250) (126,000) (514,080) 35,820 35,820 205,200
312,240
c. If company has minimum cash balance policy 40,000; therefore company should do financing by borrowing 4,180 ( 40,000 – 35,820); so the ending cash balance will be 40,000.
MOJAKOE
QUESTIONS IV : Flexible Budgets, Direct-Cost Variances, and Overhead-Cost Variances a. Direct-material price and quantity variances
b. Direct-labor rate&efficiency variances
MOJAKOE c. Variable-overhead spending&efficiency variances
d. Fixed-overhead spending & production volume variances
e. Sales price variance = ( Actual Price – Budgeted Price ) x Actual Quantity = ($38 - $40) x $21.000 = 42.000 (U) f. Sales volume variance = ( Actual Quantity – Budgeted Quantity ) x Budgeted Contribution Margin
MOJAKOE = ( 21.000 – 21.000) x $18.8* = 18.800 (F) *) Contribution Margin = $40 – ($1,65x5) – (0,5*$14) – (0,5 * 11,9) = $18,8 g. Sales quantity variance; jawaban digabung dengan point H. h. Market Share and Market Size Variance
Note : Jika perusahaan hanya memiliki 1 jenis product, secara otomatis Sales volume Variance akan sama dengan Sales Quantity Variance i. The flexible budget variance Note : Flexible Budget Variance terdiri dari Selling Price Variance, DM Variance, DML Variance, MOH Variance. Maka... jumlahkan semua variance tersebut! Perhatikan (U) dan (F) nyaa Flexible Budget variance = (15.450) + 7.000 + 510 + 440 + (42.000) = 49.500 (U)
QUESTIONS IV: Customer Profitability Analysis a) Perhitungan analisa
Revenue from each customer Cost of Goods Sold each customer Gross Margin Operating Expenses : Order Processing (14.000 x 12; 13; 16; 10) Line Item Ordering (10.500 x average linexorder)
Arif Pharmacy Rp105.000.000
Blink Pharmacy Rp58.800.000
Chand Pharmacy Rp31.500.000
Durum Pharmacy Rp63.000.000
Rp87.500.000 Rp17.500.000
Rp51.450.000 Rp7.350.000
Rp31.500.000 Rp0
Rp57.750.000 Rp5.250.000
1.680.000
1.820.000
2.240.000
1.400.000
1.008.000
1.228.500
1.176.000
1.890.000
MOJAKOE Store Deliveries (175.000 x 10; 7; 5; 10) Carton Deliveries (3.500 x average carton x total deliveries) Shelf-Stocking (56.000 x average shelf hour x delivery) Customer Level Operating Cost Customer Level Operating Income
1.750.000
1.225.000
875.000
1.750.000
525.000
539.000
245.000
700.000
1.680.000
-
1.400.000
280.000
6.643.000
4.812.500
5.936.000
6.020.000
Rp10.857.000
Rp2.537.500
(Rp5.936.000)
(Rp770.000)
b) Dari perhitungan diatas, first rank the customer : 1. Arif Pharmacy 2. Blink Pharmacy 3. Durum Pharmacy 4. Chand Pharmacy Option that Budi Black should consider, include : o Meningkatkan perhatian kepada Arif dan Blink Pharmacy sebab mereka adalah “key customer” dari VITALIFE. Untuk menarik mereka tetap melakukan pembelian, Budi Black bisa memberikan sedikit penurunan harga sehingga konsumen mau membeli dengan kuantitas yang banyak. o Meningkatkan harga atau mencari cara menurunkan biaya dalam memberikan jasa kepada Durum Pharmacy. Budi Black dapat menurunkan biaya pada aktivitas line item ordering. o Memutuskan hubungan kepada konsumen yang sangat tidak profitable dalam hal ini adalah Chand Pharmacy. Bisa dilihat, pada dasarnya Chand tidak memberikan apapun tetapi mengeluarkan banyak biaya. Jadi, Budi dapat mengambil keputusan untuk tidak lagi memberikan jasa kepada Chand namun tetap membangun hubungan dengan pelanggan yang profitable.
