ACCAspaceaccaspace.com/.../PPT/F2_Chapter_14_Process_Costing.pdf · 2016-01-01 · Part B Process...
Transcript of ACCAspaceaccaspace.com/.../PPT/F2_Chapter_14_Process_Costing.pdf · 2016-01-01 · Part B Process...
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ACCA F2
Management Accounting (MA)
管理会计
ACCA Lecturer: Belinda Qiu
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Part B Job and batch costing
1. Job costing
2. Batch costing
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Part B Process costing
1. Process account
2. Normal Loss
3. Abnormal loss/gain
4. WIP
5. FIFO and weighted average method
6. Joint and by-products
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Part B Process costing
1. Introduction
1.1
1.2 features
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Part B Process costing
2. Losses and gain in process costing
2.1 normal losses
2.1.1
The expectation is based on past experience and the loss is considered
to be unavoidable.
2.1.2 solution procedures of normal losses having a scrap values:
① Calculate the number of normal loss units
② Calculate the expected number of output units
③ Total the process costs
④ Calculate the cost per unit
Cost per unit= total costs of inputs−scrap values of normal loss
expected output
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Part B Process costing
2.2 Abnormal loss and gain
2.2.1
Abnormal loss units=expected output-actual output
2.2.2
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Part B Process costing
3. Process account
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Part B Process costing
EXAMPLE:
Input materials 1000kg $9000, labor cost $18000, OHs $13500
Normal loss=10% of input(expected). Actual output 850kg. Losses are
sold as scrap for $9/kg.
Cost per unit and accounts ?
Cost per unit=9000:18000:13500;100×9
1000×(1;10%)=44
Normal loss=1000*10%*9=900 Abnormal loss=(1000*(1-10%)-850)*44=2200 Scrap value of abnormal loss=50*9=450 Output=44*850=37400
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Part B Process costing
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Part B Process costing
4. Work in progress
4.1 equivalent units
It is unlikely that all inputs to production will take place at the same
time. Example from BPP:
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Part B Process costing
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Part B Process costing
4.2 Cost allocation between FG and WIP
4.2.1 Weighted average method
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Part B Process costing
Cost of opening WIP
Current period cost
Total cost
Cost of closing WIP
Cost of FG
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Part B Process costing
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Part B Process costing
4.2.2 FIFO method
Cost of opening WIP
Current period cost
Cost of finishing opening WIP
Cost of units started and finished
Cost of units started but not finished
Cost of FG
Cost of closing WIP
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Part B Process costing
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Part B Process costing
4.3 which method should be chosen?
在weighted average方法中,我们一直在使用equivalent unit,需要完工度
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Part B Process costing
5. Joint and by-product
5.1 introduction
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Part B Process costing
5.2 treatment of by-product
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Part B Process costing
5.3 appointment joint cost
The total joint cost incurred in the process were $24000
Products units weight sales
X 6000 4000 14000
Y 2000 1800 7000
Z 2000 2200 9000
P/L based on physical weight or sales value
(a)24000
1800:4000:2200= 3/𝑤𝑒𝑖𝑔ℎ𝑡
(b)24000
14000:7000:9000= 0.8/𝑤𝑒𝑖𝑔ℎ𝑡
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Part B Process costing
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Part B Process costing
Q1.
A
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Part B Process costing
Q1.
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