Biaya Tenaga Kerja | Akuntansi Biaya

Nurhaflah Soraya

24 Nov 202209:36

Summary

TLDRThe video discusses the topic of labor costs in a cost accounting course for accounting students at Politeknik Negeri Medan. It explains the importance of calculating labor costs for managerial decisions and details different classifications of labor costs, such as production, marketing, and administrative labor. The video also covers methods for calculating regular wages, overtime premiums, and related costs, as well as the significance of accurately distributing labor costs for production orders. Students are encouraged to practice problems to master the calculations and analysis of labor costs.

Takeaways

📘 The session is an introduction to the cost accounting course, specifically focusing on labor costs in the context of cost accounting.
👷 Labor costs are essential to understand and calculate as they are a significant part of production costs and are often predetermined in exam questions.
🔍 The importance of calculating labor costs is emphasized for managerial decision-making, highlighting the need for accurate cost control.
💼 Labor costs are categorized based on the main functions within an organization, such as production labor costs, marketing labor costs, and administrative labor costs.
🏭 Production labor costs are directly related to the manufacturing process and include wages, benefits, and overtime pay for factory workers.
📈 Marketing and administrative labor costs are considered supporting costs and include salaries and benefits for non-production staff such as marketers and secretaries.
🔑 Labor costs can also be classified according to the departments within a company, distinguishing between production and non-production departments.
👥 Further classification of labor costs is based on the type of worker, such as operators, foremen, and supervisors, with different roles falling into different categories.
👷‍♂️ Direct labor costs are those directly involved in the production process and are considered part of the production costs, while indirect labor costs are overhead costs.
📊 The script provides a detailed example of how to calculate labor costs, including the distribution of labor costs, wage calculations, and the accounting entries involved.
📝 The process of calculating labor costs includes determining regular wages, overtime premiums, and other labor-related costs, and the script illustrates this with a practical example involving two employees.

Q & A

What is the main topic of the lecture?
-The main topic of the lecture is 'Cost Accounting' with a specific focus on 'Labor Cost'.
Why is it important to understand the calculation of labor costs?
-Understanding the calculation of labor costs is crucial for managerial decision-making and controlling various costs within an organization.
What are the three main categories of labor costs based on the primary function within the company?
-The three main categories of labor costs based on the primary function within the company are production labor costs, marketing labor costs, and administrative and general labor costs.
What does 'production labor cost' include?
-Production labor cost includes wages of factory workers, welfare costs, and overtime pay, all of which are related to factory employees.
How are marketing labor costs related to the sales targets achieved by employees?
-Marketing labor costs include wages and welfare costs for marketing employees, as well as commissions that may be paid if sales targets are met.
What are the two main departments in a company when classified according to activity?
-The two main departments in a company when classified according to activity are the Production Department and the Non-Production Department.
What are the three specific types of workers often categorized by their job roles?
-The three specific types of workers often categorized by their job roles are operators, foremen, and supervisors.
How is direct labor cost calculated and accounted for in production?
-Direct labor cost is calculated based on the actual hours worked by employees on specific orders and is considered a production cost component.
What is the process of calculating regular wages and salaries for employees?
-Regular wages and salaries are calculated based on the gross agreed-upon amount, which is then typically reduced by tax deductions such as health insurance, retirement insurance, and others.
How are overtime premiums calculated in a company?
-Overtime premiums are calculated as an additional percentage of the regular wage rate for hours worked beyond the standard workweek, often 40 hours, with the example given being a 50% premium.
What are setup costs and how are they accounted for?
-Setup costs are expenses incurred to initiate production and are accounted for as direct labor costs, included as part of the production costs and charged to the specific order.
What is idle time and how is it treated in labor cost accounting?
-Idle time refers to periods when employees are not working due to production hindrances such as power outages or machine breakdowns. The costs associated with idle time are typically included in factory overhead costs.
What is the significance of incentive pay in relation to regular wages and salaries?
-Incentive pay is provided by companies to motivate employees to work more efficiently. It can be calculated in two ways: per unit of output for meeting a standard output quantity or as a differential price, depending on the number of units completed.

Outlines

00:00

📚 Introduction to Labor Cost Accounting

This paragraph introduces the topic of labor cost accounting within the context of cost accounting studies. It emphasizes the importance of understanding and calculating labor costs for managerial decision-making. The speaker outlines that labor costs are essential for controlling expenses and are categorized into production labor costs, which include wages, welfare, and overtime pay related to factory workers, and non-production labor costs, such as those for marketing and administrative staff. The paragraph sets the stage for a deeper dive into the specifics of calculating labor costs.

05:01

🔍 Detailed Breakdown of Labor Cost Calculation

The second paragraph delves into the specifics of calculating labor costs, including direct and indirect labor costs, and the distinction between production and non-production departments. It explains the categorization of labor costs based on the nature of the work performed by employees, such as operators, supervisors, and managers. The paragraph also discusses the components of labor costs, such as regular wages, overtime premiums, and setup costs. It provides an example of how to calculate the wages for two employees based on their attendance and wage rates, including the calculation of net wages after tax deductions. Additionally, it touches on incentive schemes and the handling of idle time costs in production, illustrating the process with journal entries for wage distribution, tax payments, and idle time costs.

Mindmap

Keywords

💡Cost Accounting

Cost Accounting is the process of identifying, measuring, and recording the various costs associated with production. In the video, it is the main subject of the lecture, focusing on the detailed breakdown of costs such as labor and materials, which is essential for managerial decision-making in controlling expenses.

💡Direct Labor Cost

Direct Labor Cost refers to the wages paid to workers who are directly involved in the production process. The script mentions that direct labor cost is calculated as an essential part of production cost, emphasizing its significance in cost accounting for controlling labor expenses.

💡Indirect Labor Cost

Indirect Labor Cost includes the wages and benefits of employees who do not directly contribute to the production but support the production process. The video script discusses how these costs are categorized as overhead and are crucial for understanding the full cost structure of a product.

💡Labor Force

Labor Force in the script refers to the physical or mental effort exerted by employees in processing products. It is directly related to the cost incurred for utilizing this workforce, which is a central theme in the video's discussion on cost accounting.

💡Production Department

The Production Department is where the core activities of product manufacturing take place. The script uses this term to differentiate between the costs associated with actual production versus those of non-production departments, highlighting the importance of departmental cost allocation.

💡Non-Production Department

Non-Production Departments are those that provide support to the production process but do not directly manufacture the product. The video script explains that costs associated with these departments, such as marketing or accounting, are considered part of the overhead costs.

💡Overhead Costs

Overhead Costs are indirect costs that are not directly attributable to the production of a specific product. The script discusses how these costs, such as utilities or administrative salaries, are distributed across products and are essential for a comprehensive cost analysis.

💡Wage and Salary

Wage and Salary are forms of compensation paid to employees for their labor. The script provides an example of calculating wages for direct labor, including the calculation of overtime pay, which is a significant part of labor cost accounting.

💡Overtime Pay

Overtime Pay is additional compensation given to employees for hours worked beyond the standard workweek. The video script explains how overtime is calculated, typically at a higher rate than regular wages, and its impact on labor costs.

💡Incentive Pay

Incentive Pay is a form of compensation designed to motivate employees to increase productivity or achieve certain targets. The script mentions this concept as a method to improve work performance, tying it to the overall theme of cost control and productivity.

💡Idle Time

Idle Time refers to periods when employees are not working due to various hindrances, such as equipment failure. The script discusses how idle time affects labor costs, as it contributes to overhead costs without adding value to the product.

💡Setup Time

Setup Time is the time required to prepare machinery or processes for production. The video script describes setup time as part of the setup costs, which are important for understanding the initial costs involved in starting production.

Highlights

Introduction to the cost accounting subject with a focus on labor costs.

Importance of detailing raw material and labor costs for better cost control in managerial decisions.

Definition of labor as the physical or mental effort exerted by employees in processing products.

Explanation of labor costs as the charges for using labor in production.

Categorization of labor costs into production, marketing, and administrative costs.

Differentiation between direct and indirect labor costs in relation to the product.

Calculation of direct labor costs as part of production costs.

Indirect labor costs are considered as factory overheads.

Components of labor costs including regular wages, overtime premiums, and related labor costs.

Example calculation of labor costs for two employees based on attendance and wage rates.

Process of calculating net wages after tax deductions such as income tax and social security.

Journal entries for distributing wages and salaries as direct labor costs and factory overheads.

Recording cash outflows for wage payments and tax payments.

Journal entries to reflect the payment of wages and salaries, and the settlement of payroll liabilities.

Discussion on incentives related to regular wages to improve employee performance.

Differentiation between piece-rate and differential price systems for incentive payments.

Calculation of overtime pay when employees work beyond the standard 40 hours per week.

Identification of setup time, idle time, and their impact on labor costs.

Inclusion of setup costs as part of direct labor costs and idle time as factory overheads.

Encouragement for students to practice cost calculation and analysis using reference books.

Closing remarks with well-wishes in the context of the lecture's subject matter.