HARGA POKOK PESANAN 4 : SELISIH BOP

Muhammad Khafid

19 Aug 202111:12

Summary

TLDRIn this video, the speaker discusses how to record factory overhead variance (BOP) in cost accounting. Emphasizing the challenges students often face with this topic, the instructor breaks down the four stages of BOP recording: applying BOP to products, recording actual BOP costs, closing BOP accounts, and noting the variance. Real-world examples, such as handling indirect labor and machine depreciation, illustrate how overhead is calculated and applied using percentages, while also addressing potential discrepancies. The video aims to reinforce understanding for students and provides practical accounting insights.

Takeaways

📘 The video focuses on journal entries for recording factory overhead (BOP) variances.
📊 Many students struggle with understanding how to record BOP variances, necessitating a dedicated video for clarification.
📅 There are four steps to recording BOP: assigning BOP to products, recording actual BOP, closing BOP accounts, and recording BOP variances.
💡 The first step is charging BOP to products, calculated as a percentage (in this case, 70%) of raw material costs.
🔄 The second step involves recording actual BOP transactions, which includes expenses like indirect labor, machine depreciation, and utilities.
⚖️ The third step is closing BOP accounts by balancing the charged and actual BOP values to bring the account balance to zero.
🔍 The final step is recording the BOP variance, comparing the charged BOP to the actual BOP incurred.
💼 A BOP variance is recorded as a loss (debit) if the actual BOP exceeds the charged amount, and as a gain (credit) if it's lower.
📈 The management uses estimated percentages for BOP allocation, derived from past experience and analysis.
🙏 The speaker concludes by wishing the students clarity and success in understanding and applying BOP journal entries.

Q & A

What is the main focus of the video?
-The video focuses on how to record factory overhead variances (selisih BOP) in cost accounting, specifically providing guidance on journal entries for recording BOP variances.
Why does the speaker emphasize on the topic of recording BOP variances?
-The speaker emphasizes this topic because, based on teaching experience, students often face challenges with this aspect of cost accounting, while they generally do not struggle with other topics like recording raw material purchases or finished products.
What are the four steps mentioned for recording factory overhead (BOP)?
-The four steps for recording BOP are: 1) Assigning BOP to the product, 2) Recording the actual BOP that occurred, 3) Closing the allocated BOP account to the actual BOP account, and 4) Recording the BOP variance.
Why is the factory overhead (BOP) calculated as a percentage, such as 70% of raw material cost?
-The BOP is calculated as a percentage because it is difficult to determine the exact cost for each product in relation to expenses like electricity or machine depreciation. The percentage is based on management’s analysis and historical data.
What example does the speaker give for assigning BOP to a product?
-An example given is assigning 70% of raw material costs as BOP, with a raw material cost of 9 million IDR, which results in 6.3 million IDR being assigned as BOP.
How does the speaker suggest handling overhead costs like electricity and machine depreciation in cost accounting?
-The speaker suggests using a predetermined rate (e.g., 70%) for allocating overhead costs like electricity and machine depreciation to products, as it is impractical to calculate these exact amounts for each specific order.
What journal entry example is provided for recording actual BOP that occurred?
-An example journal entry for recording actual BOP includes debiting the actual BOP and crediting accumulated depreciation on factory machines and building, as well as other expenses such as electricity.
How are BOP accounts closed at the end of the period?
-At the end of the period, the allocated BOP account is debited to match the actual BOP account, ensuring that both accounts are closed out with a zero balance.
What is meant by a 'BOP variance' in cost accounting?
-A BOP variance occurs when there is a difference between the allocated BOP and the actual BOP. This variance can be either favorable (when the actual BOP is lower than allocated) or unfavorable (when the actual BOP exceeds the allocated amount).
How does the speaker explain an unfavorable BOP variance?
-An unfavorable BOP variance is explained as a situation where the allocated BOP (e.g., 6.3 million IDR) is less than the actual BOP incurred (e.g., 7 million IDR), resulting in additional costs that need to be recorded.

Outlines

00:00

📚 Introduction to BOP Discrepancies and Importance of Review

In this introduction, the speaker welcomes the students and viewers to the video focused on discrepancies in factory overhead costs (BOP). The speaker explains the reason for revisiting this material, noting that students often face challenges understanding this part of cost accounting. While areas like raw material purchases and product completion are generally well understood, the issue of BOP discrepancies requires further strengthening. The speaker outlines the structure of the video, praying for ease and understanding for the audience.

05:01

🧾 The Four Steps of Recording BOP

The speaker explains that there are four steps to record BOP transactions. The first two steps happen when transactions occur, including the actual BOP and the estimated BOP assigned to specific orders. Steps three and four occur at the end of the period when discrepancies between actual and estimated BOP are recorded. The speaker emphasizes the importance of the final steps and proceeds to give an example of a transaction related to BOP, specifically detailing overhead allocation based on raw material costs.

10:03

🔍 Example of BOP Allocation and Challenges

An example is provided where BOP is allocated based on a percentage (70%) of raw material costs, which in this case amounts to 6.3 million IDR. The speaker discusses the challenges of using actual costs in real-time, like determining electricity or depreciation for specific orders. Due to these difficulties, a predetermined rate (70%) is used, based on management's analysis and experience.

📊 Recording Actual BOP Transactions

The speaker details how actual BOP is recorded, including various transactions like indirect labor, factory utilities, and depreciation. Each transaction is posted to the general ledger, ensuring accurate representation of real costs. The speaker also explains the importance of keeping BOP accounts balanced, highlighting the posting process for each type of BOP-related transaction, such as indirect labor and material usage.

💡 Balancing BOP Accounts at Period End

At the end of the period, the BOP accounts must be closed, ensuring that the estimated and actual BOP are balanced. The speaker describes the process of closing these accounts by debiting and crediting the correct amounts. This step ensures the accounts reflect accurate figures with zero discrepancies at the end of the period.

⚖️ Recording BOP Discrepancies

In the final part, the speaker explains how to handle discrepancies in BOP. If the actual BOP exceeds the estimated amount, this is considered a loss, and the discrepancy is recorded as a debit. If the estimated BOP is higher than the actual, it results in a gain, and the discrepancy is credited. The speaker concludes by summarizing the process and encouraging viewers to understand the impact of these discrepancies on cost accounting.

Mindmap

Keywords

💡BOP (Biaya Overhead Pabrik)

BOP stands for Biaya Overhead Pabrik (Factory Overhead Costs). It refers to indirect manufacturing costs such as electricity, depreciation, and factory maintenance. In the video, the speaker emphasizes how students often struggle with accounting for BOP variances, which is why this lesson focuses on it.

💡Selisih BOP

Selisih BOP refers to the variance between the actual factory overhead costs incurred and the overhead applied to production orders. This variance is crucial in cost accounting as it can indicate whether the overhead was under-applied or over-applied. The video explains the steps to account for these differences, which occur at the end of the accounting period.

💡Pembebanan BOP

Pembebanan BOP is the process of applying overhead costs to products based on predetermined rates. In the video, the example of applying 70% of raw material costs to overhead illustrates how companies assign indirect costs to specific production orders before actual costs are known.

💡Jurnal Akuntansi

A Jurnal Akuntansi (accounting journal) is a record of financial transactions in chronological order. The video details the specific journal entries necessary for recording the different stages of BOP, such as when the overhead is applied, actual overhead costs are incurred, and when variances are recorded.

💡Biaya Bahan Baku

Biaya Bahan Baku (Raw Material Costs) refers to the direct cost of materials used in production. In the video, it is mentioned as the base for calculating the overhead that needs to be applied to products. For example, if raw material costs are 9 million IDR, overhead is charged at 70%, which is 6.3 million IDR.

💡Akumulasi Penyusutan

Akumulasi Penyusutan (Accumulated Depreciation) is the total depreciation of factory equipment and buildings over time. The video explains that depreciation is part of factory overhead and needs to be recorded in the journal when actual BOP is accounted for.

💡Tarif BOP

Tarif BOP (BOP Rate) is the predetermined overhead rate used to allocate factory overhead to products. The speaker in the video discusses how this rate is calculated based on management’s analysis and past experience, like applying 70% of raw material costs.

💡Penutupan Akun BOP

Penutupan Akun BOP (Closing BOP Accounts) is the process of finalizing the balance of overhead accounts at the end of a period. The video explains how this is done by adjusting the balances to zero and recording the BOP variance, ensuring that all factory overhead costs have been correctly allocated.

💡Biaya Tenaga Kerja Tidak Langsung

Biaya Tenaga Kerja Tidak Langsung (Indirect Labor Costs) refers to wages paid to workers who are not directly involved in production but support it, like maintenance staff. This cost is included in factory overhead and must be recorded in the BOP journal entries, as shown in the video.

💡Beban Administrasi Umum

Beban Administrasi Umum (General Administrative Expenses) are costs related to the administration of the company, such as office salaries and utilities. While these are not directly part of factory overhead, they are mentioned in the video as costs that need to be distinguished from BOP when making journal entries.

Highlights

Introduction to the topic of recording factory overhead (BOP) differences and its challenges.

Emphasis on the difficulty students face in understanding the recording of BOP differences, necessitating further explanation.

Explanation of the four stages in recording BOP, including allocating BOP to products and recording actual BOP expenses.

Stage one: Allocating BOP to products based on a percentage of raw material costs (e.g., 70% of 9 million for a specific order).

Clarification on why estimated percentages are used instead of actual figures for BOP allocation, highlighting the complexity of allocating costs like electricity and machine depreciation to specific orders.

Stage two: Recording actual BOP expenses, such as indirect labor and factory supplies.

Stage three: Closing the allocated BOP account by transferring it to the actual BOP account.

Stage four: Recording BOP differences by comparing allocated BOP with actual BOP, with examples showing either a loss or gain.

Example of BOP loss: When allocated BOP is less than actual BOP, leading to a debit entry in the BOP difference account.

Example of BOP gain: When allocated BOP exceeds actual BOP, leading to a credit entry in the BOP difference account.

Discussion on the importance of BOP analysis for future planning and decision-making by management.

Explanation of how overhead costs like factory supplies and depreciation are considered part of BOP.

Detailed walkthrough of journal entries for BOP allocation and the closing of BOP accounts.

Explanation of how to post BOP journal entries to the general ledger.

Closing remarks emphasizing the importance of understanding BOP differences for future cost control and management.

Final prayer and wishes for the success of students in understanding the material.