GNB Chapter 8 - California State University, Sacramento

GNB Chapter 8 - California State University, Sacramento

Activity-Based Costing: A Tool to Aid Decision Making ActivityBased Costing (ABC) ABC is designed to provide managers with cost information for strategic and other decisions that potentially affect capacity and therefore affect fixed as well as variable costs. ABC is a good supplement to our traditional cost system I agree! Learning Objective 1 Understand activitybased costing and how it differs from a traditional costing system.

How Costs are Treated Under ActivityBased Costing ABC ABC differs differs from from traditional traditional cost cost accounting accounting in in three three ways. ways. Manufacturing costs Nonmanufacturing costs Traditional product costing ABC product costing ABC assigns both types of costs to products. How Costs are Treated Under

ActivityBased Costing ABC ABC differs differs from from traditional traditional cost cost accounting accounting in in three three ways. ways. Traditional product costing Nonmanufacturing costs Mo st, not but all Some All Manufacturing costs

ABC product costing ABC does not assign all manufacturing costs to products. How Costs are Treated Under ActivityBased Costing Level of complexity ABC ABC differs differs from from traditional traditional cost cost accounting accounting in in three three ways. ways. ActivityBased ActivityBased Costing Costing Departmental Departmental Overhead

Overhead Rates Rates Plantwide Plantwide Overhead Overhead Rate Rate Number of cost pools ABC uses more cost pools. How Costs are Treated Under ActivityBased Costing ABC ABC differs differs from from traditional traditional cost cost accounting accounting in in three three ways. ways. Each Each ABC

ABC cost cost pool has has its own own unique unique measure measure of of activity. activity. Traditional Traditional cost systems usually usually rely rely cost systems on volume measures measures such such as as direct direct labor labor on volume hours hours and/or and/or machine machine hours hours to

to allocate allocate all all overhead overhead costs costs to to products. products. ABC uses more cost pools. How Costs are Treated Under ActivityBased Costing Activity An event that causes the consumption of overhead resources. Activity Cost Pool A cost bucket in which costs related to a single activity measure are accumulated. $$ $

$ $ $ How Costs are Treated Under ActivityBased Costing Activity Measure An allocation base in an activity-based costing system. The term cost driver is also used to refer to an activity measure. How Costs are Treated Under ActivityBased Costing Two common types of activity measures: Transaction driver Duration driver Simple count of the number of times an activity occurs.

A measure of the amount of time needed for an activity. How Costs are Treated Under ActivityBased Costing ABC defines five levels of activity that largely do not relate to the volume of units produced. Traditional Traditional cost cost systems systems usually usually rely rely on on volume volume measures measures such such as as direct direct labor labor hours

hours and/or and/or machine machine hours hours to to allocate allocate all all overhead overhead costs costs to to products. products. How Costs are Treated Under ActivityBased Costing Unit-Level Activity Batch-Level Activity Manufacturing companies typically combine their activities into five classifications. Product-Level Activity

Organizationsustaining Activity Customer-Level Activity Characteristics of Successful ABC Implementations Strong Strong top top management support Link to evaluations and and rewards Cross-functional involvement involvement Baxter Battery An ABC Example Baxter Battery Company Income Statement Year Ended December 31, 2009 Sales Cost of goods sold

Direct materials Direct labor Manufacturing overhead Gross margin Selling and administrative expenses Shipping expenses Marketing expenses General administrative expenses Net operating income loss $ 50,000,000 $ 15,000,000 12,000,000 14,000,000 3,000,000 2,000,000 6,000,000 41,000,000 9,000,000 11,000,000 $ (2,000,000) Manufacturing Manufacturing overhead

overhead is is allocated allocated to to products products using using aa single single plantwide plantwide overhead overhead rate rate based based on on machine machine hours. hours. Define Activities, Activity Cost Pools, and Activity Measures At Baxter Battery, the ABC team, selected the following activity cost pools and activity measures: Define Activities, Activity Cost Pools, and Activity Measures Customer Customer Orders Orders -- assigned assigned all all costs

costs of of resources resources that that are are consumed consumed by by taking taking and and processing processing customer customer orders. orders. Design Design Changes Changes -- assigned assigned all all costs costs of of resources resources consumed consumed by by customer customer requested requested design design changes.

changes. Order Order Size Size -- assigned assigned all all costs costs of of resources resources consumed consumed as as aa consequence consequence of of the the number number of of units units produced. produced. Customer Customer Relations Relations assigned assigned all all costs costs associated associated with

with maintaining maintaining relations relations with with customers. customers. Other Other assigned assigned all all organization-sustaining organization-sustaining costs costs and and unused unused capacity capacity costs costs Learning Objective 2 Assign costs to cost pools using a firststage allocation. Assign Overhead Costs to Activity Cost Pools Assign Overhead Costs to Activity Cost Pools

Direct materials, direct labor, and shipping are excluded because Baxter Batterys existing cost system can directly trace these costs to products or customer orders. Assign Overhead Costs to Activity Cost Pools At Baxter Battery the following distribution of resource consumption across activity cost pools is determined. Assign Overhead Costs to Activity Cost Pools Indirect $6,000,000 Indirect factory factory wages wages $6,000,000 Percent 30% Percent consumed consumed by by customer customer orders orders 30% $1,800,000

$1,800,000 Assign Overhead Costs to Activity Cost Pools Factory $3,500,000 Factory equipment equipment depreciation depreciation $3,500,000 Percent 20% Percent consumed consumed by by customer customer orders orders 20% $$ 700,000 700,000 Assign Overhead Costs to Activity Cost Pools Learning Objective 3 Compute activity

rates for cost pools. Calculate Activity Rates The ABC team determines that Baxter Battery will have these total activities for each activity cost pool . . . 10,000 customer orders, 4,000 design changes, 800,000 machine-hours, 2,000 customers served. Now Now the the team team can can compute compute the the individual individual activity activity rates rates by by dividing dividing the

the total total cost cost for for each each activity activity by by the the total total activity activity levels. levels. Calculate Activity Rates ActivityBased Costing at Baxter Battery Direct Materials Direct Labor Shipping Costs Traced Traced

Traced Overhead Costs Cost Objects: Products, Customer Orders, Customers ActivityBased Costing at Baxter Battery Direct Materials Direct Labor Shipping Costs Overhead Costs First-Stage Allocation Customer Orders Design Changes

Order Size Customer Relations Cost Objects: Products, Customer Orders, Customers Other ActivityBased Costing at Baxter Battery Direct Materials Direct Labor Shipping Costs Overhead Costs First-Stage Allocation Customer Orders

Design Changes Order Size Customer Relations Other Second-Stage Allocations $/Order $/Change $/MH $/Customer Cost Objects: Products, Customer Orders, Customers Unallocated Learning Objective 4 Assign costs to a cost

object using a secondstage allocation. Assigning Overhead to Products Baxter Battery Information SureStart SureStart 1. 1. Requires Requires no no new new design design resources. resources. 2. 2. 800,000 800,000 batteries batteries ordered ordered with with 4,000 4,000 separate separate orders. orders. 3. 3. Each Each SureStart SureStart requires requires 36 36 minutes

minutes of of machine machine time time for for aa total total of of 480,000 480,000 machine-hours. machine-hours. LongLife LongLife 1. 1. Requires Requires new new design design resources. resources. 2. 2. 400,000 400,000 batteries batteries ordered ordered with with 6,000 6,000 separate separate orders. orders. 3.

3. 4,000 4,000 custom custom designs designs prepared. prepared. 4. 4. Each Each LongLife LongLife requires requires 48 48 minutes minutes of of machine machine time time for for aa total total of of 320,000 320,000 machine-hours. machine-hours. Assigning Overhead to Products Assigning Overhead to Customers Lets take a look at how Baxter Batterys system works for just one of the 2,000 customers Acme Auto Parts who placed a total of twelve orders. Note that the four orders for LongLifes

required a design change. Orders Orders 1. 1. Eight Eight orders orders for for 60 60 SureStarts SureStarts per per order. order. 2. 2. Four Four orders orders for for 50 50 LongLifes LongLifes per per order. order. Machine-hours Machine-hours 1. 1. The The 480 480 SureStarts

SureStarts required required 288 288 machine-hours. machine-hours. 2. 2. The The 200 200 LongLifes LongLifes required required 160 160 machine machine hours. hours. Assigning Overhead to Customers Learning Objective 5 Use activity-based costing to compute product and customer margins. Prepare Management Reports Product Margin Calculations The first step in computing product margins is to gather each products sales and direct cost data. Sales

Direct costs Direct material Direct labor Shipping SureStarts $ 31,300,000 LongLifes $ 18,700,000 Total $ 50,000,000 9,000,000 7,000,000 2,000,000 6,000,000 5,000,000 1,000,000 15,000,000 12,000,000 3,000,000 Prepare Management Reports Product Margin Calculations

The second step in computing product margins is to incorporate the previously computed activity-based cost assignments pertaining to each product. Sales Direct costs Direct material Direct labor Shipping ABC cost assignments Customer orders Design changes Order size SureStarts $ 31,300,000 LongLifes $ 18,700,000 Total $ 50,000,000 9,000,000 7,000,000 2,000,000 6,000,000 5,000,000

1,000,000 15,000,000 12,000,000 3,000,000 1,808,000 2,712,000 3,040,000 2,080,000 4,520,000 3,040,000 5,200,000 3,120,000 Prepare Management Reports Product Margin Calculations The third step in computing product margins is to deduct each products direct and indirect costs from sales. Sales Costs Direct material Direct labor Shipping

Customer orders Design changes Order size Total cost Product margin SureStarts $ 31,300,000 $ 9,000,000 7,000,000 2,000,000 1,808,000 LongLifes $ 18,700,000 $ 6,000,000 5,000,000 1,000,000 2,712,000 3,040,000 2,080,000 3,120,000 22,928,000 $ 8,372,000 19,832,000 $ (1,132,000)

Prepare Management Reports Product Margin Calculations The product margins can be reconciled with the companys net operating income as follows: Sales Total costs Product margins Less costs not assigned to products: Customer relations Other Total Nett operating income loss SureStarts $ 31,300,000 22,928,000 $ 8,372,000 LongLifes $ 18,700,000 19,832,000 $ (1,132,000) Total $ 50,000,000 42,760,000

$ 7,240,000 3,080,000 6,160,000 9,240,000 $ (2,000,000) Prepare Management Reports Customer Margin Analysis The first step in computing Acme Auto Parts customer margin is to gather its sales and direct cost data. Sales Direct costs Direct material Direct labor Shipping Acme Auto Parts $ 29,200 7,500 6,700 1,700 Prepare Management Reports Customer Margin Analysis The second step is to incorporate Acme Auto Parts

previously computed activity-based cost assignments. Sales Direct costs Direct material Direct labor Shipping ABC cost assignments Customer orders Product design Order size Customer relations Acme Auto Parts $ 29,200 7,500 6,700 1,700 5,424 3,040 2,912 1,540 Prepare Management Reports Customer Margin Analysis The third step is to compute Acme Auto Parts customer margin of $384 by deducting all its direct and indirect costs from its sales. Sales

Direct costs Direct material Direct labor Shipping Customer orders Product design Order size Customer relations Customer margin Acme Auto Parts $ 29,200 $ 7,500 6,700 1,700 5,424 3,040 2,912 1,540 28,816 $ 384 Product Margins Computed Using the Traditional Cost System

The first step in computing product margins is to gather each products sales and direct cost data. Sales Direct costs Direct material Direct labor SureStarts $ 31,300,000 LongLifes $ 18,700,000 Total $ 50,000,000 9,000,000 7,000,000 6,000,000 5,000,000 15,000,000 12,000,000 Product Margins Computed Using the Traditional Cost System The second step in computing product margins

is to compute the plantwide overhead rate. Manufacturing Overhead Costs at Baxter Battery Production Department Indirect factory wages Factory equipment depreciation Factory utilities Factory building lease Total manufacturing overhead Plantwide manufacturing overhead rate = $ 6,000,000 3,500,000 2,500,000 2,000,000 $ 14,000,000 $14,000,000 800,000 MH SureStarts (800,000 @ 0.60 hours) LongLifes (400,000 @ 0.80 hours) Total machine-hours

= $17.50 per machine-hour Machine-hours 480,000 320,000 800,000 Product Margins Computed Using the Traditional Cost System The third step in computing product margins is allocate manufacturing overhead to each product. SureStarts LongLifes Total overhead allocated to products Machine Overhead Overhead Hours Rate Allocated 480,000 $ 17.50 $ 8,400,000 320,000 17.50 5,600,000

$ 14,000,000 480,000 hours $17.50 per hour = $8,400,000 Product Margins Computed Using the Traditional Cost System The fourth step is to actually compute the product margins. Sales Cost of goods sold Direct materials Direct labor Manufacturing overhead Product margin Selling and administrative Nett operating operating income loss SureStarts $ 31,300,000 $ 9,000,000 7,000,000 8,400,000

LongLifes $ 18,700,000 $ $ 24,400,000 6,900,000 Shipping expenses Marketing expenses General administrative expenses 6,000,000 5,000,000 5,600,000 Total $ $ 16,600,000 2,100,000 15,000,000 12,000,000 14,000,000

$ $ 3,000,000 2,000,000 6,000,000 $ 11,000,000 50,000,000 41,000,000 9,000,000 11,000,000 (2,000,000) Differences Between ABC and Traditional Product Costs Product margins traditional Product margins ABC Change in reported margins The traditional cost system overcosts the SureStarts and reports a lower product

margin for this product. SureStarts $ 6,900,000 8,372,000 $ 1,472,000 LongLifes $ 2,100,000 (1,132,000) $ (3,232,000) The traditional cost system undercosts the LongLifes and reports a higher product margin for this product. Differences Between ABC and Traditional Product Costs There are three reasons why the reported product margins for the two costing systems differ from one another. Traditional costing allocates all manufacturing overhead to products. ABC costing only assigns manufacturing overhead costs consumed by products to those products.

Differences Between ABC and Traditional Product Costs There are three reasons why the reported product margins for the two costing systems differ from one another. Traditional costing allocates all manufacturing overhead costs using a volume-related allocation base. ABC costing also uses non-volume related allocation bases. Differences Between ABC and Traditional Product Costs There are three reasons why the reported product margins for the two costing systems differ from one another. Traditional costing disregards selling and administrative expenses because they are assumed to be period expenses. ABC costing directly traces shipping costs to products and includes nonmanufacturing overhead costs caused by products in the activity cost pools that are assigned to products. Targeting Process Improvement Activity-based management is used in conjunction with ABC to identify areas that would benefit from process improvements.

While the theory of constraints approach discussed in Chapter 1 is a powerful tool for targeting improvement efforts, activity rates can also provide valuable clues on where to focus improvement efforts. Benchmarking Benchmarking can can be be used used to to compare compare activity activity cost cost information information with with world-class world-class standards standards of of performance performance achieved achieved by by other other organizations. organizations.

Activity-Based Costing and External Reporting Most companies do not use ABC for external reporting because . . . 1. 1. External External reports reports are are less less detailed detailed than than internal internal reports. reports. 2. 2. ItIt may may be be difficult difficult to to make make changes changes to to the the companys companys accounting accounting system. system.

3. 3. ABC ABC does does not not conform conform to to GAAP. GAAP. 4. 4. Auditors Auditors may may be be suspect suspect of of the the subjective subjective allocation allocation process process based based on on interviews interviews with with employees. employees. ABC Limitations Substantial resources

required to implement and maintain. Resistance to unfamiliar numbers and reports. Desire to fully allocate all costs to products. Potential misinterpretation of unfamiliar numbers. Does not conform to GAAP. Two costing systems may be needed. ABC Action Analysis Appendix 8A Learning Objective 6 (Appendix 8A) Prepare an action analysis report using activity-based costing

data and interpret the report. Appendix 8A: ABC Action Analysis Conventional ABC analysis does not identify potentially relevant costs. An action analysis report helps because it: Shows what costs have been assigned to a cost object. Indicates how difficult it would be to adjust those costs in response to changes in the level of activity. Appendix 8A: ABC Action Analysis Constructing an action analysis report begins with the first-stage allocation process. In addition to computing an overall activity rate for each activity cost pool, an activity rate is computed for each type of overhead cost that is consumed supporting a given activity. Lets revisit the stage-one allocations from the Baxter Battery Company example that we discussed earlier. Appendix 8A: ABC Action Analysis $1,800,000 10,000 orders = $180 per order

Other entries in the table are computed similarly. $180 per order 4,000 orders = $720,000 Other entries in the table are computed similarly. $180 per order 6,000 orders = $1,080,000 Other entries in the table are computed similarly. Appendix 8A: ABC Action Analysis Next, label each cost using an ease of adjustment code: Green costs adjust more or less automatically to changes in activity level without any action by managers. Yellow costs can be adjusted to changes in activity level, but it would require management action to realize the change in cost. Red costs can be adjusted to changes in activity level only with a great deal of difficulty and with management intervention. Appendix 8A: ABC Action Analysis Action Analysis of LongLife Batteries Sales Green costs Direct materials Shipping costs Green margin

$ $ 18,700,000 $ 7,000,000 11,700,000 $ 11,222,000 478,000 $ 1,610,000 (1,132,000) 6,000,000 1,000,000 Yellow costs Direct labor Indirect factory wages

Factory utilities Administrative wages and salaries Office equipment depreciation Marketing wages and salaries Selling expenses Yellow margin 5,000,000 3,360,000 850,000 1,280,000 252,000 420,000 60,000 Red costs Factory equipment depreciation Factory building lease Administrative building lease Red margin 1,610,000 - Using a Modified Form of Activity-Based Costing to Determine Product Costs for External Reports Appendix 8B

Learning Objective 7 (Appendix 8B) Use activity-based costing techniques to compute unit product costs for external reports. Appendix 8B A A modified modified form form of of activity-based activity-based costing costing can can be be used used to develop product product costs for for external external financial financial reports. reports.

ABC ABC product product costs: costs: Include Include organization-sustaining organization-sustaining costs costs and and unused unused capacity capacity costs. costs. Exclude Exclude nonmanufacturing nonmanufacturing costs costs even even ifif they they are are caused caused by by the the products. products.

Appendix 8B Simmons Industries provides the following information for the company as a whole and for its only two productsdeluxe and standard hedge trimmers. Total Total estimated estimated manufacturing manufacturing overhead overhead Total Total estimated estimated direct direct labor labor hours hours Direct Direct materials materialscost cost per per unit unit Direct Direct labor labor cost cost per per unit unit

Direct Direct labor labor hours hoursper per unit unit Units Unitsproduced produced $$ 1,800,000 1,800,000 400,000 400,000 Deluxe Deluxe $$ 38.00 38.00 $$ 24.00 24.00 2.0 2.0 100,000 100,000 Standard Standard

$$ 28.00 28.00 $$ 12.00 12.00 1.0 1.0 200,000 200,000 Appendix 8B Assuming that Simmons traditional cost system relies on one predetermined plantwide overhead rate with direct labor-hours (DLHs) as the allocation base, then its plantwide overhead rate is computed as follows: Predetermined $1,800,000 = overhead rate 400,000 DLHs = $4.50 per DLH Appendix 8B Simmons traditional cost system would report unit product costs as follows:

Direct Direct materials materialscost cost per per unit unit Direct Direct labor labor cost cost per per unit unit Manufacturing Manufacturing overhead overhead per per unit unit Unit Unit product product cost cost Deluxe Deluxe $$ 38.00 38.00 24.00

24.00 9.00 9.00 $$ 71.00 71.00 Standard Standard $$ 28.00 28.00 12.00 12.00 4.50 4.50 $$ 44.50 44.50 2.0 DLH $4.50 per DLH 1.0 DLH $4.50 per DLH Appendix 8B The ABC project team at Simmons has developed the following basic information. Activity Activityand

andActivity ActivityMeasures Measures Direct Directlabor laborsupport support(DLHs) (DLHs) Machine Machinesetups setups(setups) (setups) Parts Partsadministration administration(part (parttypes) types) Total Totalmanufacturing manufacturingoverhead overhead Estimated Estimated Overhead Overhead Cost Cost

$$ 900,000 900,000 600,000 600,000 300,000 300,000 $$ 1,800,000 1,800,000 Deluxe Deluxe 200,000 200,000 400 400 200 200 Expected ExpectedActivity Activity Standard Standard 200,000 200,000 100

100 100 100 Total Total 400,000 400,000 500 500 300 300 Appendix 8B We can calculate the following activity rates: Activity and Activity Measures Direct labor support (DLHs) Machine setups (setups) Parts administration (part types) Total manufacturing overhead Estimated Total Overhead Expected Cost Activity

Activity Rate $ 900,000 400,000 = $ 2.25 per DLH 600,000 500 = $ 1,200 per setup 300,000 300 = $ 1,000 per part type $ 1,800,000 Using the new activity rates, lets assign overhead to the two products based upon expected activity. Appendix 8B Deluxe Product Expected Expected Activity Activity Activity and and Activity Activity Measures Measures Activity Direct 200,000 Direct labor laborsupport

support(DLHs) (DLHs) 200,000 Machine 400 Machine setups setups (setups) (setups) 400 Parts 200 Parts administration administration (part (parttypes) types) 200 Total Totaloverhead overhead cost costassigned assigned Activity Activity

Rate Rate $$ 2.25 2.25 $$ 1,200 1,200 $$ 1,000 1,000 == == == Amount Amount $$ 450,000 450,000 480,000 480,000 200,000 200,000 $$1,130,000 1,130,000 Standard Product Expected Expected Activity

Activity Activity and and Activity Activity Measures Measures Activity Direct 200,000 Directlabor laborsupport support(DLHs) (DLHs) 200,000 Machine 100 Machine setups setups (setups) (setups) 100 Parts 100 Parts administration administration (part (parttypes) types) 100 Total Totaloverhead

overhead cost costassigned assigned Activity Activity Rate Rate $$ 2.25 2.25 $$ 1,200 1,200 $$ 1,000 1,000 == $$ == == $$ Amount Amount 450,000 450,000

120,000 120,000 100,000 100,000 670,000 670,000 Appendix 8B Activity-based Activity-based unit unit product product costs costs for for both both product product lines lines Direct Direct materials materialscost cost per per unit unit Direct Direct labor labor cost cost per

per unit unit Manufacturing Manufacturing overhead overhead per per unit unit Unit Unit product product cost cost Premium Premium $$ 38.00 38.00 24.00 24.00 11.30 11.30 $$ 73.30 73.30 Standard Standard $$ 28.00 28.00

12.00 12.00 3.35 3.35 $$ 43.35 43.35 Appendix 8B Activity-based Activity-based unit unit product product costs costs for for both both product product lines lines Direct Direct materials materialscost cost per per unit unit Direct Direct labor labor cost

cost per per unit unit Manufacturing Manufacturing overhead overhead per per unit unit Unit Unit product product cost cost Premium Premium $$ 38.00 38.00 24.00 24.00 11.30 11.30 $$ 73.30 73.30 $1,130,000 100,000 units $670,000 200,000 units Standard

Standard $$ 28.00 28.00 12.00 12.00 3.35 3.35 $$ 43.35 43.35 Appendix 8B Comparing the two approaches Activity-Based Activity-Based Costing Costing Deluxe Standard Deluxe Standard Direct $$ 38.00 Directmaterial material 38.00 $$ 28.00 28.00 Direct

24.00 12.00 Directlabor labor 24.00 12.00 Manufacturing 11.30 3.35 Manufacturing overhead overhead 11.30 3.35 Unit $$ 73.30 Unitproduct productcost cost 73.30 $$ 43.35 43.35 Traditional TraditionalCosting Costing Deluxe Standard Deluxe Standard

$$ 38.00 38.00 $$ 28.00 28.00 24.00 12.00 24.00 12.00 9.00 4.50 9.00 4.50 $$ 71.00 71.00 $$ 44.50 44.50 Note that the unit product cost of a Standard unit decreased from $44.50 to $43.35 . . . . . . . . . . while the unit cost of a Deluxe unit increased from $71.00 to $73.30. End of Chapter 8

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