会计学（第21版）课件：Process Cost Systems

ProcessCostSystemsAccounting,21stEditionWarrenReeveFess

Someoftheactionhasbeenautomated,soclickthemousewhenyouseethislightningboltinthelowerright-handcornerofthescreen.Youcanpointandclickanywhereonthescreen.1. Distinguishbetweenjobordercostingandprocesscostingsystems.2. Explainandillustratethephysicalflowsandcostflowsforaprocessmanufacturer.3. Calculateandinterprettheaccountingforcompletedandpartiallycompletedunitsunderthefifomethod.4. Prepareacostofproductionreport.ObjectivesAfterstudyingthischapter,youshouldbeableto:5. Preparejournalentriesfortransactionsofaprocessmanufacturer.Objectives6. Usecostofproductionreportsfordecisionmaking.7. Contrastjust-in-timeprocessingwithconventionalmanufacturingpractices.JobOrderCostSystemJobCostSheetsDept.AandDept.BComparingJobOrderCostingandProcessCostingDirectmaterialsFactoryoverheadDirectlaborWorkinProcessAccounttoFinishedGoodsProcessCostSystemDirectmaterialsWorkinProcessAccountWorkinProcessAccountDEPT.ADEPT.BFactoryOverheadDirectLaborFactoryOverheadDirectLabortoFinishedGoodsComparingJobOrderCostingandProcessCostingdetermineaproductcost

bymeasuringtheamountofdirectmaterialsanddirectlaborusedandallocatingoverheadcosts.allocateoverheadusinga

predeterminedoverheadrate

(oractivity-basedcosting).maintainperpetualinventoryrecordswithsubsidiaryledgersforMaterials,

Workin

Process,andFinishedGoods.Bothsystems:ComparingJobOrderCostingandProcessCostingPhysicalFlowsforaProcessManufacturerScrapMetalMaterialsMeltingDepartmentCastingDepartmentMoltenmetaltransferredfromMeltingTofinishedgoodsCastingDepartmentMeltingDepartmentPhysicalFlowsforaProcessManufacturerMaterialsWIP–MeltingFactoryOH–MeltingDMPurchasesofdirectandindirectmaterialsDirectmaterialsusedinproductionDMDMFinishedGoodsCostofGoodsSoldFactoryOH–CastingWIP–CastingCostFlowsforaProcessManufacturerMaterialsWIP–MeltingDMDLDMDirectlaborusedinproductionDLPurchasesofdirectandindirectmaterialsFinishedGoodsCostofGoodsSoldFactoryOH–CastingActualcostsincurredWIP–CastingFactoryOH–MeltingCostFlowsforaProcessManufacturerMaterialsWIP–MeltingFinishedGoodsWIP–CastingCostofGoodsSoldDMDLDMIndirectmaterialsusedinproductionIMPurchasesofdirectandindirectmaterialsIMFactoryOH–CastingFactoryOH–MeltingActualcostsincurredActualcostsincurredCostFlowsforaProcessManufacturerMaterialsWIP–MeltingFinishedGoodsWIP–CastingCostofGoodsSoldDMDLDMFactoryoverheadappliedFOAPurchasesofdirectandindirectmaterialsIMFactoryOH–CastingActualcostsincurredFOAActualcostsincurredFOAFactoryOH–MeltingCostFlowsforaProcessManufacturerMaterialsWIP–MeltingFinishedGoodsWIP–CastingCostofGoodsSoldDMDLDMCosttransferredout/transferredinTO/TIPurchasesofdirectandindirectmaterialsIMFactoryOH–CastingActualcostsincurredFOAActualcostsincurredFOATOTIFactoryOH–MeltingCostFlowsforaProcessManufacturerMaterialsWIP–MeltingFinishedGoodsWIP–CastingCostofGoodsSoldDMDLDMPurchasesofdirectandindirectmaterialsIMFactoryOH–CastingActualcostsincurredFOAActualcostsincurredFOATOTIDLFactoryoverheadappliedFOADirectlaborusedinproductionDLFOAFOAFactoryOH–MeltingCostFlowsforaProcessManufacturerMaterialsWIP–MeltingFinishedGoodsWIP–CastingCostofGoodsSoldDMDLDMPurchasesofdirectandindirectmaterialsIMFactoryOH–CastingActualcostsincurredFOAActualcostsincurredFOATOTIDLFOAFOACosttransferredout/transferredinTO/TITOTIFactoryOH–MeltingCostFlowsforaProcessManufacturerCostFlowsforaProcessManufacturerMaterialsWIP–MeltingFinishedGoodsWIP–CastingCostofGoodsSoldDMDLDMPurchasesofdirectandindirectmaterialsIMFactoryOH–CastingActualcostsincurredFOAActualcostsincurredFOATOTIDLFOAFOACostofgoodssoldCOGSTOTICOGSCOGSFactoryOH–MeltingTheFirst-in,First-out(Fifo)MethodMeltingDepartmentofMcDermottSteelInc.Inventoryinprocess,July1,500tons: Directmaterialscost,500tons $24,550 Conversioncosts,500tons,70%completed 3,600 Totalinventoryinprocess,July1 $28,150DirectmaterialscostforJuly,1,000tons 50,000ConversioncostsforJuly 9,690GoodstransferredtoCastinginJuly,1,100tons ?Inventoryinprocess,July31,400tons,25% completeastoconversioncosts ? Step1:DeterminetheUnitstobeAssignedCostsBeginningInventory500TonsWorkinProcess–MeltingStarted1,000TonsBeginningInventory500TonsWorkinProcess–MeltingStarted1,000TonsTransferred1,100TonsInaperpetualinventorysystem,outflowsarerecordedastheyoccur.Step1:DeterminetheUnitstobeAssignedCostsBeginningInventory500TonsWorkinProcess–MeltingStarted1,000TonsTransferred1,100TonsEndingInventory400TonsStep1:DeterminetheUnitstobeAssignedCosts

BeginningInventory 500Tons1BeginningInventory500TonsWorkinProcess–MeltingStarted1,000TonsTransferred1,100TonsEndingInventory400TonsStep1:DeterminetheUnitstobeAssignedCosts

BeginningInventory 500Tons1Started&Completed ?Tons+2BeginningInventory500TonsWorkinProcess–MeltingStarted1,000TonsTransferred1,100TonsEndingInventory400TonsStep1:DeterminetheUnitstobeAssignedCosts

BeginningInventory 500Tons1Started&Completed 600Tons+2BeginningInventory500TonsWorkinProcess–MeltingStarted1,000TonsTransferred1,100TonsEndingInventory400Tons

BeginningInventory 500Tons1Started&Completed 600Tons+2=TransferredOut 1,100Tons+

EndingInventory 400Tons3Totalunits 1,500Tons=Step1:DeterminetheUnitstobeAssignedCostsTotaltonstobeassignedcostsTheequivalentunitsofproductionarethenumberofunitsthatcouldhavebeencompletedwithinagivenaccountingperiod.Step2: CalculateequivalentunitsofproductionStep2:CalculateEquivalentUnitsofProductionMaterialsEquivalentUnits Total Percent Equivalent Units Added UnitsInventoryinprocess,July1 500 0% 0StartedandcompletedinJuly 600 100% 600TransferredouttoCastingDept. 1,100 600Inventoryinprocess,July31 400 100% 400Totaltonstobeassignedcost 1,500 1,000Step2:CalculateEquivalentUnitsofProduction500EUofmaterials500tonsbeginninginventory100%materialsaddedinJuneJULY1600EUofmaterials600tonsstartedandcompleted100%materialsaddedinJulyJULY31400EUofmaterials400tonsendinginventory100%materialsaddedinJuly1,000EquivalentUnitsInventoryinprocess,July1Note:StartedandcompletedInventoryinprocess,July31NomaterialsequivalentunitsaddedtobeginninginventoryforJulyStep2:CalculateEquivalentUnitsofProductionConversionEquivalentUnitsInventoryinprocess,July1 500 30% 150StartedandcompletedinJuly 600 100% 600TransferredouttoCastingDept. 1,100 750Inventoryinprocess,July31 400 25% 100Totaltonstobeassignedcost 1,500 850 Total PercentEquivalent Units Added Units350EU70%completedforconversioninJuneJULY1600EU600tonsstartedandcompleted100%completedforconversioninJulyJULY31100EU25%completedforconversioninJuly850EquivalentUnitsInventoryinprocess,July1Step2:CalculateEquivalentUnitsofProduction150EU300EUInventoryinprocess,July31(75%tobecompletedforconversioninAugust)30%completedforconversioninJuly500tonsbeginninginventory400tonsendinginventoryStep3:DeterminetheCostperEquivalentUnitEquivalentUnits

DirectMaterialsConversionInventoryinprocess,July1 0 150StartedandcompletedinJuly (1,100–500) 600

600TransferredouttoCastingDept. inJuly 600 750Inventoryinprocess,July31 400

100Totaltonstobeassignedcost 1,000 850BeginningInventory$28,150WorkinProcess–MeltingMaterials$50,000ConversionCosts$9,690ConversionEquivalentUnitCostDirectMaterialsEquivalentUnitCost$11.40perEUofcon-version=$50,000directmaterialscost1,000directmaterialsequivalentunits$9,690conversioncost850conversionequivalentunitsStep3:DeterminetheCostperEquivalentUnit$50.00perEUofDM=Inventoryinprocess,July1 beginningbalance $28,150Equivalentunitsforcompleting theJulyin-processinventory 0 150Equivalentunitcost x$50.00

x$11.40

CostofcompletedJuly1in- processinventory $0 $1,710 1,710CostofJuly1in-process inventorytransferredto CastingDepartment $29,860Step4:AllocateCoststoTransferredandPartiallyCompletedUnits

DirectMaterials Conversion Total Costs Costs CostsUnitsstartedandcompleted inJuly 600 600Equivalentunitcost x$50.00

x$11.40Costtocompletetheunits startedandcompletedin July $30,000 $6,840 $36,840

DirectMaterials Conversion Total Costs Costs CostsStep4:AllocateCoststoTransferredandPartiallyCompletedUnitsEquivalentunitsinending inventory 400 100Equivalentunitcost x$50.00

x$11.40Costofendinginventory $20,000 $1,140 $21,140

DirectMaterials Conversion Total Costs Costs CostsStep4:AllocateCoststoTransferredandPartiallyCompletedUnitsBeginningInventory$28,150MaterialsCosts$50,000StartedandCompleted$36,840BeginningInventory$29,860WorkinProcess–MeltingTotalCostsCharged$87,840EndingInventory$21,140ConversionCosts$9,690TotalCostsAssigned$87,840M 600 x 100% x $50.00 = $30,000C 600 x 100% x $11.40 = 6,840

$36,840M 400 x 100% x $50.00 = $20,000C 400 x 25% x $11.40 = 1,140

$21,140Beginningcost $28,150M 500 x 0% x $50.00 = 0C 500 x 30% x $11.40 = 1,710

$29,860 TotalCostsAssigned $87,840CostsStep4:AllocateCoststoTransferredandPartiallyCompletedUnitsAcostofproductionreport

ispreparedforeachprocessingdepartmentatperiodicalintervals.CostofProductionReportThecostofproductionreportprovidesthefollowingproductionquantityandcostdata:Theunitsforwhichthedepartmentisaccountableandthedepositionofthoseunits.Theproductioncostsincurredbythedepartmentandtheallocationofthosecostsbetweencompletedandpartiallycompletedunits.Acostofproductionreport

alsoisusedtocontrolcosts.UnitsStep1Step2Unitschargedtoproduction: Inventoryinprocess,July1 500 Receivedfrommaterials 1,000 Totalunitsaccountedfor 1,500Unitstobeassignedcost: Inventoryinprocess,July1 (70%complete) 500 0 150 StartedandcompletedinJuly 600 600 600 TransferredtoCastingDept. 1,100 600 750 Inventoryinprocess,July31 (25%complete) 400 400 100 Totalunitstobeassignedcost 1,500 1,000 850 Whole Direct Units Materials ConversionEquivalentUnitsCostofProductionReport—MeltingDepartmentCosts

DirectMaterials Conversion TotalCostsCostsStep3

Unitcosts: TotalcostsforJulyin MeltingDepartment $50,000 $9,690 Totalequivalentunits (fromSlide43) ÷1,000

÷850 Costperequivalentunit $50.00 $11.40CostofProductionReport—MeltingDepartmentCosts Direct Conversion Total Materials Costs CostsStep4Costschargedtoproduction: Inventoryinprocess,July1 $28,150 CostincurredinJuly 59,690 Totalcostsaccountedfor $87,840Costsallocatedtocompletedand partiallycompletedunits

Inventoryinprocess,July1 $28,150 TocompleteinventoryofJuly1 $0 $1,710 1,710 StartedandcompletedinJuly 30,000 6,840 36,840 TransferredtoCastingDept. $66,700 Inventoryinprocess,July31 $20,000 $1,140 21,140 Totalcostsassigned $87,840CostofProductionReport—MeltingDepartmentJournalEntriesforaProcessCostSystemMaterials 62,000 AccountsPayable 62,000WorkinProcess–Melting 50,000FactoryOverhead–Melting 4,000FactoryOverhead–Casting 3,000 Materials 57,000WorkinProcess–Melting 5,000WorkinProcess–Casting 4,500 WagesPayable 9,500FactoryOverhead–Melting 1,000FactoryOverhead–Casting 7,000 AccumulatedDepreciation 8,000a.Materialspurchasedonaccount.b.Directandindirectmaterialsrequisitioned.c.Directlabor used.d. Depreciationexpen