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MANAGEMENT ACCOUNTING

Don R. Hansen
Maryanne M. Mowen

PPT 8 -1

Anggaran Berdasarkan
Fungsi dan Aktivitas

PPT 8 -2

Siklus Perencanaan, Hasil, dan Pengendalian


Planning
Rencana Strategis

Control
Pengawasan Aktivitas Aktual

Tujuan Jangka Panjang


Tujuam Jamgka Pendek
Rencana Jangka Pendek
Anggaran

Perbandingan
Aktivitas Aktual dengan yang
Telah Direncanakan

Respoms

Investigation
Corrective action

PPT 8 -3

Purposes of Budgeting
It forces managers to plan.
It provides information that can be used to improve

decision making.
It provides a standard for performance evaluation.
It improves communication and coordination.

PPT 8 -4

Two Dimensions of Budgeting

There are two dimensions to budgeting:


1. How is the budget prepared?
2. How is the budget used to implement the
organizations plan?
PPT 8 -5

Master Budget
A master budget can be divided into operating and
financial budgets.
Operating budgets describe the income-generating
activities of a firm: sales, production, and finished goods
inventories.
Financial budgets detail the inflows and outflows of cash
and the overall financial position.

PPT 8 -6

The Operating Budget


The operating budget consists of a budgeted
income statement accompanied by the following
support schedules:
Sales budget
Production budget
Direct material purchases budget
Direct labor budget
Overhead budget
Selling and administrative expenses budget
Ending finished goods inventory budget
Cost of goods sold budget

PPT 8 -7

Sales Budget (Schedule 1)


______________Quarter____________

Units
Unit selling price

Year

2,000

6,000

6,000

2,000

16,000

x $0.70

x $0.70

x $0.80

x $0.80

x $0.75

$1,400
=====

$4,200
=====

$4,800
=====

$1,600
=====

$12,000
======

PPT 8 -8

Production Budget (Schedule 2)


_____________Quarter____________

Year

2,000

6,000

6,000

2,000

16,000

500

500

100

100

100

2,500

6,500

6,100

2,100

16,100

Less: Beginning inventory (100)

(500)

(500)

(100)

(100)

6,000
====

5,600
====

2,000
====

16,000
=====

Sales (Schedule 1)
Desired ending inventory
Total needs

Units to be produced

2,400
====

PPT 8 -9

Direct Materials Budget (Schedule 3)


______________Quarter______________

1
Units to be produced (2)
2,400
Direct materials per unit
x 26
Production needs
62,400
Desired ending inventory 8,000
Total needs
70,400
Less: Beginning inventory (5,000)
Direct materials to
be purchased
65,400
Cost per pound
x$0.01
Total purchase cost
$654

2
3
6,400
5,600
x 26
x 26
156,000 145,600
8,000
5,000
164,000 150,600
(8,000) (8,000)

4
Year
2,000 16,000
x 26
x 26
52,000 416,000
5,000
5,000
57,000 421,000
(5,000) (5,000)

156,000
x $0.01
$1,560

52,000 416,000
x $0.01 x $0.01
$520 $4,160

142,600
x $0.01
$1,426

PPT 8 -10

Direct Labor Budget (Schedule 4)

________________Quarter____________
1

Year

2,400

6,000

5,600

2,000

16,000

x 0.015

x 0.015

x 0.015

x 0.015

x 0.015

36

90

84

30

240

Average wage per hour

x $10

x $10

x $10

x $10

x $10

Total direct labor cost

$360

$900

$840

$300

$2,400

Units to be produced (Sch. 2)


Direct labor time
Total hours needed

PPT 8 -11

Overhead Budget (Schedule 5)


_____________Quarter_____________

Year

36

90

84

30

240

x $8

x $8

x $8

x $8

x $8

Budgeted variable overhead $288

$720

$672

$240

$1,920

320

320

320

320

1,280

$608

$1,040

$992

$560

$3,200

Budgeted DLH ( Sch. 4)


Variable overhead rate

Budgeted fixed overhead*


Total overhead

*Includes $200,000 of depreciation in each quarter.


PPT 8 -12

Selling and Administrative


Expenses Budget (Schedule 6)
________________Quarter____________
1
23
4Year
Planned sales in units (Sch. 1) 2,0006,000 6,0002,00016,000
Variable S & A exp. per unit x $0.05x $0.05x $0.05 x $0.05x $0.05
Total variable expense
$100$300 $300$100$ 800
Fixed S & A expenses:
Salaries
$ 35$ 35 $ 35$ 35$ 140
Advertising
1010
1010
40
Depreciation
1515
1515
60
Insurance
---15-15
Travel
5
5
5
5
20
Total fixed expenses
$ 65$ 65 $ 80$ 65$ 275
Total S & A expenses
$165$365 $380$165$1,075
PPT 8 -13

Ending Finished Goods


Inventory Budget (Schedule 7)
Unit-cost computation:
Direct materials (26 lb.. @ $0.01)

$0.26

Direct labor (0.015 hr. @ $10)

0.15

Overhead:
Variable (0.015 hr. @ $8)
Fixed (0.015 hr. @ $5.33*)
Total unit cost
*$1,280/240 = $5.33
Units

0.12
0.08
$0.61

Unit
CostsTotal

Finished goods: Concrete block 100,000$0.61$61,000


PPT 8 -14

Cost of Goods Sold Budget (Schedule 8)


Direct materials used (Schedule 3)*
Direct labor used (Schedule 4)
Overhead (Schedule 5)
Budgeted manufacturing costs
Beginning finished goods
Goods available for sale

$4,160

2,400
3,200
$9,760
55
$9,815

Less: Ending finished goods (Schedule 7)


Budgeted cost of goods sold

(61)

$9,754

*Production needs x $0.01 = 416,000 x $0.01


PPT 8 -15

The Financial Budgets

The usual financial budgets prepared are:


The cash budget
The budgeted balance sheet
The budget for capital expenditures

PPT 8 -16

The Cash Budget


Beginning cash balance
Add: Cash receipts

$x,xxx
x,xxx

Cash available

$x,xxx

Less: Cash disbursements

x,xxx

Less: Minimum cash balance

x,xxx

Cash surplus (deficiency)

$x,xxx

Add: Cash from loans

x,xxx

Less: Loan repayments

x,xxx

Add: Minimum cash balance


End cash balance
=====

x,xxx
$x,xxx
PPT 8 -17

Cash Budget Example


a. A $100,000 minimum cash balance is required for the end of
each quarter. Money can be borrowed and repaid in multiples
of $100,000. Interest is 12 % per year. Interest payments are
made only for the amount of the principal being repaid. All
borrowing takes place at the beginning of a quarter and all
repayment takes place at the end of a quarter.
b. Half of all sales are for cash, 70% of credit sales are collected
in the quarter of sale, and the remaining 30% are collected in
the following quarter. The sales for the fourth quarter of 2000
were $2 million.
PPT 8 -18

Cash Budget Example (continued)


c. Purchases of raw materials are made on account; 80% of
purchases are paid for in the quarter of purchase. The
remaining 20% are paid for in the following quarter. The
purchases for the fourth quarter of 2000 were $500,000.
d. Budgeted depreciation is $200,000 per quarter for overhead
and $15,000 per quarter for selling and administrative
expenses (see Schedules 5 and 6).

PPT 8 -19

Cash Budget Example (continued)


e. The capital budget for 2001 revealed plans to purchase
additional equipment to handle increased demand at a small
plant in Nevada. The cash outlay for the equipment,
$600,000, will take place in the first quarter. The company
plans to finance the acquisition of the equipment with
operating cash, supplementing it with short-term loans as
necessary.
f. Corporate income taxes are approximately $650,000 and will
be paid at the end of the fourth quarter (Schedule 9).
g. Beginning cash balance equals $120,000.
PPT 8 -20

Cash Receipts from Customers


Source

Quarter1

Quarter 2Quarter 3Quarter 4

Cash sales

$ 700,000 $2,100,000$2,400,000$ 800,000

Received on
account from:
Quarter 4, 2000

300,000

Quarter 1, 2001

490,000

Quarter 2, 2001
Quarter 3, 2001
Quarter 4, 2001
Total cash receipts

210,000
1,470,000630,000
1,680,000720,000
560,000

$1,490,000 $3,780,000$4,710,000$2,080,000
PPT 8 -21

Cash Disbursements for Raw Materials


Source
Current quarter
Prior quarter
Total cash
disbursement
for raw materials

Quarter1

Quarter 2

Quarter 3

Quarter 4

$523

$1,248

$1,141

$416

100

131

312

285

$623

$1,379

$1,453

$701

PPT 8 -22

Cash Disbursements
____________
1

23

______Quarter__________________
4

Less cash disbursements:


Raw materials:
Current quarter
Prior quarter

$523$1,248

$1,141$416

100131

312285

Direct labor

360900

840300

Overhead

408840

792360

Selling and adm.

150350

365150

------

---650

Income taxes
Equipment
Total disbursements

600

---

$2,141$3,469

---

---

$3,450$2,161

========

========
PPT 8 -23

Cash Budget (Schedule 10)


_________
1
Beginning cash balance
Cash collections (PPT 8-23)

______Quarter_______________

23

4Year

$ 120 $ 169$ 162

$ 986$

120

1,490 3,780 4,710

2,080 12,060

Total cash available

$1,610 $3,949$4,872

$3,066$12,180

Total disbursements (PPT 8-25)

$2,141 $3,469$3,450

$2,161$11,221

Minimum cash balance

100

100

100

100

100

Total cash needs

$2,241 $3,569$3,550

$2,261$11,321

Excess (deficiency) of cash

$ (631)$ 380 $1,322

$ 805$

Add: Borrowings

700 ---

Less: Repayments

--- (300)

Less: Interest paid

---

Ending cash balance


======

(18)

--- ---

700

(400)---

(700)

( 36)

$ 169 $ 162 $ 986


=================

--$ 905$
======

859

(54)
905

PPT 8 -24

Budgeted Income Statement


Sales (Schedule 1)
Less: Cost of goods sold (Schedule 8)
Gross margin
Less: Selling and administrative expenses (Schedule 6)
Operating income
Less: Interest expense (Schedule 10)
Income before taxes
Less: Income taxes (PPT 8-25)
Net income

$12,000
(9,754)
$ 2,246
(1,075)
$ 1,171
(54)
$ 1,117
(650)
$ 467
======
PPT 8 -25

Total Assets, Last Year


Assets
Current assets:
Cash$ 120
Accounts receivable

300

Raw materials inventory

50

Finished goods inventory


Total current assets

55
$ 525

Property, plant, and equipment:


Land

$ 2,500

Building and equipment

9,000

Less: Accumulated depreciation


Total property, plant, and equipment
Total assets

$7,525

(4,500)
7,000
=====

PPT 8 -26

Total Liabilities and Stockholders


Equity, Last Year
Liabilities and Stockholders Equity
Current liabilities:
Accounts payable

$ 100

Stockholders equity:
Common stock, no par
Retained earnings
Total stockholders equity
Total liabilities and stockholders equity

$ 600
6,825
7,425
$7,525
=====

PPT 8 -27

Budgeted Total Assets


Assets
Current assets:
Cash$

905

Accounts receivable

240

Raw materials inventory

50

Finished goods inventory


Total current assets

61
$1,256

Property, plant, and equipment:


Land

$2,500

Building and equipment

$ 9,600

Less: Accumulated depreciation


Total property, plant, and equipment
Total assets

$7,996

(5,360)
6,740
=====

PPT 8 -28

Budgeted Total Liabilities and


Stockholders Equity
Liabilities and Stockholders Equity
Current liabilities:
Accounts payable

$ 104

Stockholders equity:
Common stock, no par
Retained earnings
Total stockholders equity
Total liabilities and stockholders equity

$ 600
7,292
7,892
$7,996
=====

PPT 8 -29

Flexible and Static Budgeting


Static Budgeting is a budget for a particular level of
activity.
Flexible Budgeting is a budget that provides a firm
with the capability to compute expected costs for a
range of activity.

PPT 8 -30

The Uses of Flexible Budget


The flexible budget can be used to prepare the budget

before the fact for the expected level of activity.


Flexible budgeting can be used to compare what costs

should have been for the actual level of activity.


Flexible budgeting can help managers deal with

uncertainty by allowing them to see the expected outcomes


for a range of activities.

PPT 8 -31

Performance Report (Exhibit 8-6)


Actual
Units produced
===
Direct materials cost
Direct labor costs

BudgetedVariance
3,0002,400
$ 927.3$ 624.0

600 F

====

====

$303.3 U

450.0360.0

90.0 U

80.072.0

8.0 U

220.0168.0

52.0 U

40.048.0

(8.0)F

Supervision

90.0100.0

(10.0)F

Depreciation

200.0200.0

0.0

Overhead:
Variable:
Supplies
Indirect labor
Power
Fixed:

Rent
Total
======

30.0

20.0

10.0 U

$2,037.3$1,592.0
=====

$445.3 U

======

PPT 8 -32

Flexible Production Budget (Exhibit 8-7)


Variable
Range of Production
Production Costs
Variable:
Direct materials
Direct labor
Variable overhead:
Supplies
Indirect labor
Power 0.02
Total variable costs
Fixed overhead:
Supervision
Depreciation
Rent
20
Total fixed costs
Total production costs
===== =====

per Unit 2,400


$0.26 $ 624
0.15 360
0.03 72
0.07 168
48
$0.53 $1,272
$ 100
200
20
20
$ 320
$1,592
=====

Cost
3,0003,600
$ 780$ 936
450540
90108
210252
60
72
$1,590$1,908
$ 100$ 100
200200
$ 320$ 320
$1,910$2,228

PPT 8 -33

Actual vs. Flexible Performance Report


(Exhibit 8-8)
Actual Budget
Units produced

Variance
3,0003,000

----- ====

========

Production costs:
Direct materials
Direct labor

$ 927.3$ 780.0

$ 147.3 U

450.0450.0

0.0

80.090.0

(10.0)F

220.0210.0

10.0 U

Variable overhead:
Supplies
Indirect labor
Power

40.0

Total variable costs

60.0 (20.0)

$1,717.3$1,590.0

$ 127.3 U

Supervision

$90.0$100.0

$(10.0)F

Depreciation

200.0200.0

0.0

Fixed overhead:

Rent

30.0

20.0

10.0

Total fixed costs

$ 320.0$ 320.0

$0.0

Total production costs


======

$2,037.3$1,910.0
=====

$ 127.3 U

======

PPT 8 -34

Behavior Dimensions of Budgeting


Goal Congruence
Dysfunctional Behavior
Frequent Feedback on Performance
Monetary and Nonmonetary Incentives
Participative Budgeting
Realistic Standards
Controllability of Costs
Multiple Measures of Performance
PPT 8 -35

Activity-Based Budgeting

Activity flexible
budgeting is the
prediction of what
activity costs will be as
activity output changes.

PPT 8 -36

Flexible Budget: Direct Labor Hours


Cost Formula
Fixed

Variable10,00020,000

Direct materials

---$10 $100,000$200,000

Direct labor

---8

Maintenance

80,000160,000

$ 20,0003

50,00080,000

Machining

15,0001

25,00035,000

Inspections

120,000---

120,000120,000

50,000---

50,00050,000

Setups
Purchasing
Total
=======

Direct Labor Hours

220,000 --- 220,000 220,000


$425,000$22 $645,000$865,000

======= ==========

PPT 8 -37

Activity Flexible Budget


Driver: Direct Labor Hours
Formula
Fixed

Level of Activity

Variable10,00020,000

Direct materials

---$10 $100,000$200,000

Direct labor

---

Subtotal
==

80,000 160,000

$0$18 $180,000$360,000
===

Driver: Machine Hours


Fixed
Maintenance
Machining
Subtotal
======

Variable8,000 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
PPT 8 -38

Activity Flexible Budget (continued)


Driver: Number of Setups
Fixed
Inspections

Variable25

$80,000$2,100$132,500

Setups
Subtotal

30

--- 1,800

45,000

$80,000$3,900$177,500

$143,000
54,000
$197,000====== =====

Driver: Number of Orders


Fixed
Purchasing
Total
=======

Variable

15,000

25,000

$211,000$1 $226,000$236,000
=======

=======

==

$678,000$948,000

PPT 8 -39

Activity-Based Performance Report


Actual Costs
Direct materials

Budgeted Costs

Budget Variance

$101,000

$100,000

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
======

Setups
Purchasing
Total

$1,000 U

PPT 8 -40

Variances for the Inspection Activity


Activity

Actual Cost

Budgeted Cost

Variance

$ 82,000

$ 80,000

$2,000 U

43,500

52,500

9,000 F

$125,500
=======

$132,500
=======

$7,000 F
=====

Inspection:
Fixed
Variable
Total

PPT 8 -41

End of Chapter 8

PPT 8 -42

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