Akuntansi Biaya P19-4 : Income Statement; Variance Analysis; Two Overhead

P19-4	Income Statement; Variance Analysis; Two Overhead Variances
	Ensley Corporation manufactures product G, which sell for				25	per unit
	Material M is added before processing starts, and labor and overhead are added
	evenly during the manufacturing process.
	Production capacity is budgeted at		110000	units of G annually
	The standard cost per unit of G are as follows:
	Direct Materials	2	pound M at	1.5		3
	Direct Labor	1.5	hours at	8		12
	FOH variable				1.5
	FOH fixed				1.1
						2.6
						17.6
	A process cost system is used. Inventories are costed at standard cost. All variance from
	standard cost are charged or credited to Cost of Good Sold in the year incurred.
	Inventory data for the year 20A are as follows:
			January 1		December 31
	Material M		50000	pounds	60000	pounds
	Work In Process:
	All materials, 2/5 processed		10000	units
	All materials, 1/3 processed				15000	units
	Finished Goods Inventory		20000	units	12000	units
	During 20A	250000	pounds of M were purchased at an average
	cost of	1.485	per pound, and		240000	pounds were
	transferred to work in process inventory. Direct labor costs amounted to
	1313760	at an average hourly labor rate of			8.16
	Actual factory overhead for 20A was as follows:
	Variable FOH		181500
	Fixed FOH		114000
	A total of	110000	units of G were completed and transferred
	to finished goods inventory. Marketing and administrative expenses were					680500
	REQUIRED:
	Prepare an income statement for 20A, including all manufacturing cost variances
	and using the two variance method for factory overhead.
					(AICPA adapted)
					Eq unit Material		115000
					Eq unit labor		111000
	Cost Of Goods Sold Statement				Eq unit FOH		111000
	Direct Material Cost		345000
	Direct Labor Cost		1332000
	FOH Applied		288600
	Total Prod Cost		1965600
	WIP awal		88400
	Jumlah		2054000
	WIP akhir		118000
	Cost  of Goods Manfct.		1936000
	Finished Goods awal		352000
	Jumlah		2288000
	Finished Goods akhir		211200
	Cost Of Goods Sold		2076800		118000	unit
	Adjusted for Varianced:
	Material Purchased Price		-3750
	Material Quantity Used		15000
	Labor Rate		25760
	Labor Efficiency		-44000
	Controllable overhead		8000
	Volume overhead		-1100
	Total Variance		-90
	Cost of Goods Sold adjusted		2076710
	Income Statement
	Sales		2950000
	Cost of Goods Sold adjusted		2076710
	Gross Profit		873290
	Marketing and Adm Expenses		680500
	Operating Profit		192790
	Material purchase price variance:
		(Act P     -        Std P)     x   Material Purchased
		1.485	1.5	250000	-3750	(Fav)
	Material quantity variance:
		(Act Q        -     Std Q)   x         Std P
		240000	230000	1.5	15000	(Un Fav)
	Labor rate variance:	(Act Rate    -   Std Rate)  x     Act Hours
		8.16	8	161000	25760	(Un Fav)
	Labor efficiency variance:	(Act Hours  - Std Hours)  x     Std Rate
		161000	166500	8	-44000	(Fav)
	Factory Overhead Variance (two variance method)
	FOH Actual			295500	Controllable Variance
	Budget FOH based on standard hours				8000	(Un Fav)
		Unit
	FOH variable	111000	1.5	166500
	FOH Fixed	110000	1.1	121000
	Total FOH			287500	Volume Variance
	FOH Applied	111000	2.6	288600	-1100	(Fav)
			Total FOH variance   =		6900	(Un Fav)