Perusahaan Industri (Manufaktur)

Halomoan Sihombing
5 Jul 202423:52

Summary

TLDRThis lesson delves into the workings of industrial companies, focusing on their types, inventories, and production costs. It contrasts industrial companies with service and trading companies, highlighting key inventories such as raw materials, goods in process, and finished goods. The script covers production costs, distinguishing between direct and indirect costs, as well as non-production costs. Additionally, it explains cost calculations for goods manufactured and sold, emphasizing the importance of inventory in determining production expenses. Overall, this content provides an essential guide to understanding how industrial companies manage their production processes and financial reports.

Takeaways

  • ๐Ÿ˜€ Service companies offer services, trading companies sell merchandise, and industrial companies sell industrial goods produced through manufacturing processes.
  • ๐Ÿ˜€ Industrial companies have three types of inventory: raw materials, goods in process, and finished goods.
  • ๐Ÿ˜€ Production costs are expenses related to the products produced by the company, while non-production costs are operational or business expenses.
  • ๐Ÿ˜€ Direct production costs include direct raw materials and direct labor costs, which are directly tied to the product being produced.
  • ๐Ÿ˜€ Indirect production costs (factory overhead) include indirect raw materials, indirect labor costs, and other factory-related costs.
  • ๐Ÿ˜€ Direct raw materials are the materials that are directly used in the product, while indirect raw materials (auxiliary materials) are used in production but not part of the final product.
  • ๐Ÿ˜€ Direct labor costs refer to wages for workers directly involved in producing the product, while indirect labor costs refer to wages for workers not directly making the product (e.g., supervisors).
  • ๐Ÿ˜€ Other factory overhead costs (other BOP) include factory-related expenses such as machinery depreciation, factory electricity, and factory building costs.
  • ๐Ÿ˜€ Prime cost consists of direct material costs and direct labor costs, whereas conversion costs are made up of direct labor costs and factory overhead costs.
  • ๐Ÿ˜€ In industrial companies, the cost of goods manufactured (COGM) is calculated using raw materials and goods in process inventory, while the cost of goods sold (COGS) includes finished goods inventory and production costs.

Q & A

  • What are the three types of companies based on their business fields?

    -The three types of companies based on their business fields are: service companies, trading companies, and industrial companies.

  • What is the primary function of a service company?

    -A service company offers services without selling any physical goods.

  • What distinguishes a trading company from an industrial company?

    -A trading company sells merchandise without altering its form, while an industrial company sells industrial goods produced through a production process.

  • What are the types of inventory in an industrial company?

    -The three types of inventory in an industrial company are: raw material inventory, goods in process inventory, and finished goods inventory.

  • What are the two main types of costs in a company?

    -The two main types of costs are production costs, which are related to the products produced, and non-production costs (also called business or operational costs), which are not related to the products.

  • What is the difference between direct and indirect production costs?

    -Direct production costs are directly related to the products produced, such as direct raw materials and direct labor costs. Indirect production costs, or factory overhead costs, are not directly related to the products but are necessary for the production process, such as indirect materials and labor.

  • What are direct raw materials and indirect raw materials?

    -Direct raw materials are raw materials directly used in the production of a product, such as flour and eggs in making a cake. Indirect raw materials are materials used in the production process but not part of the final product, such as packaging materials.

  • Who qualifies as direct labor, and who qualifies as indirect labor in a company?

    -Direct labor includes workers directly involved in producing the product, such as factory workers. Indirect labor includes employees who support the production process but do not directly make the product, such as managers, supervisors, and cleaning staff.

  • What is the meaning of prime cost in an industrial company?

    -Prime cost consists of direct material costs and direct labor costs. It represents the total costs directly associated with the production of goods.

  • What are conversion costs, and how are they calculated?

    -Conversion costs are the costs required to convert raw materials into finished products, consisting of direct labor costs and factory overhead costs.

  • How are the cost of goods manufactured and cost of goods sold related to inventory in an industrial company?

    -The cost of goods manufactured is determined by raw materials inventory and goods in process inventory. The cost of goods sold is calculated by adding the beginning inventory of finished goods to the cost of production and subtracting the ending inventory of finished goods.

Outlines

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Related Tags
Industrial CompaniesProduction CostsInventory TypesRaw MaterialsLabor CostsFactory OverheadBusiness ExpensesManufacturingCost CalculationProfit Loss ReportBusiness Education