Determination analysis of production cost calculation through the full costing method
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Dec 16, 2023
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Abstract
Waani Furniture is a business that operates in the manufacturing sector, which produces various kinds of interiors, namely producing household furniture. This business has a problem in determining the production cost only using a simple method and not classified cost elements. This research aims to determine the calculation of the wardrobe production basic cost using the full costing calculation method. The research involved Waani Furniture located in Leilem Village, Sonder District, Minahasa as the research object. The method used to analyze this research is a qualitative approach of descriptive analysis with data collection through interviews, observation, and documentation. The results indicate that there is a significant difference in the production cost calculation because if the company uses the full costing method, the production cost is higher than the method determined by the company. The difference in cost price occurs due to different cost calculations as the company does not include all costs that should be used in determining the production cost. Therefore, companies need to classify cost components in the production cost. It is expected that companies can consider to calculate the production cost using the full costing method to produce more detailed and accurate data.
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How to Cite
Rotinsulu, M. J., Lambey, R., & D. Latjandu, L. (2023). Determination analysis of production cost calculation through the full costing method. Enrichment : Journal of Management, 13(5), 3206-3214. https://doi.org/10.35335/enrichment.v13i5.1722
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Baraja, L., & Yosya, E. A. (2019). Analysis the Impact of Liquidity, Profitability, Activity and Solvency Ratio on Change in Earnings. Indonesian Management and Accounting Research, 17(1). https://doi.org/10.25105/imar.v17i1.4663
El Menzhi, K. (2014). CSR in human resources management. In Corporate Social Responsibility and Human Resource Management: A Diversity Perspective. https://doi.org/10.4337/9781783476367.00020
Fujianti, L., & Satria, I. (2020). Firm size, profitability, leverage as determinants of audit report lag: Evidence from Indonesia. International Journal of Financial Research, 11(2). https://doi.org/10.5430/ijfr.v11n2p61
Helweg‐Larsen, R., & Helweg‐Larsen, E. (2007). Business Visualization: A New Way to Communicate Financial Information. Business Strategy Series, 8(4), 283–292. https://doi.org/10.1108/17515630710684330
Khan, T. (2019). Venture waqf in a circular economy. ISRA International Journal of Islamic Finance, 11(2). https://doi.org/10.1108/IJIF-12-2018-0138
Kosztyán, Z. T., Csizmadia, T., Kovács, Z., & Mihálcz, I. (2020). Total risk evaluation framework. International Journal of Quality and Reliability Management, 37(4). https://doi.org/10.1108/IJQRM-05-2019-0167
Marasabessy, R. H. (2022). Responsibility of Businesses With The Dropship System Reviewing From The Perspective of Law Number 8 of 1999 Concerning Consumer Protection. Ad-Deenar: Jurnal Ekonomi Dan Bisnis Islam, 6(01). https://doi.org/10.30868/ad.v6i01.2208
Mir, A. A., & Bhat, A. A. (2022). Green banking and sustainability – a review. Arab Gulf Journal of Scientific Research, 40(3). https://doi.org/10.1108/AGJSR-04-2022-0017
Novia, D., Melia, S., & Juliyarsi, I. (2014). Utilization of ash in the salting process on mineral content raw salted eggs. Asian Journal of Poultry Science, 8(1). https://doi.org/10.3923/ajpsaj.2014.1.8
Nugraha, R. S., Jatiningrum, W. S., & Astuti, R. D. (2021). Cluster analysis to determine business strategy for MSMEs in Yogyakarta. IOP Conference Series: Materials Science and Engineering, 1072(1). https://doi.org/10.1088/1757-899x/1072/1/012011
Ogbeibu, S., Senadjki, A., Emelifeonwu, J., Gaskin, J., & Pereira, V. (2021). Augmenting environmental sustainability through the exchange of green creative ideas – evidence from an emerging economy. Sustainable Production and Consumption, 26. https://doi.org/10.1016/j.spc.2020.10.007
Okpala, K. E., & Osanebi, C. (2020). Cost Volume Profit Analysis and Profit Planning in Manufacturing SMEs in Nigeria. Asia-Pacific Management Accounting Journal, 15(2). https://doi.org/10.24191/apmaj.v15i2-10
Ozbolat, I. T. (2015). Scaffold-Based or Scaffold-Free Bioprinting: Competing or Complementing Approaches? Journal of Nanotechnology in Engineering and Medicine, 6(2). https://doi.org/10.1115/1.4030414
Pamungkas, I. D., Purwantoro, Sari, M. P., & Hersugondo. (2023). Corporate Governance and Financial Performance on Firm Value: The Case of Indonesia. WSEAS Transactions on Business and Economics, 20. https://doi.org/10.37394/23207.2023.20.10
Pereyras, J. (2021). Human Capital Requirements of the Electrical Businesses. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.3950010
Phornlaphatrachakorn, K. (2017). Competitor accounting and marketing performance: An empirical investigation of electronics and electrical appliance businesses in Thailand. University of the Thai Chamber of ….
Qiu, S., Ming, X., Sallak, M., & Lu, J. (2021). Joint optimization of production and condition-based maintenance scheduling for make-to-order manufacturing systems. Computers and Industrial Engineering, 162. https://doi.org/10.1016/j.cie.2021.107753
Ruslim, H., & Muspyta, R. (2021). The Effect of Profitability and Financial Leverage on Cost of Debt Moderated Earnings Management. Jurnal Ekonomi, 26(1), 35. https://doi.org/10.24912/je.v26i1.716
Saputra, N., Abdinagoro, S. B., & Kuncoro, E. A. (2018). The mediating role of learning agility on the relationship between work engagement and learning culture. Pertanika Journal of Social Sciences and Humanities, 26(T), 117–130.
Widardi, J., Yanuar, T., Syah, R., Indradewa, R., & Pusaka, S. (2019). Marketing Mix Strategy Implementation for Business Plan at LH Hotel. Science, Engineering and Social Science Series, 3(5), 167–168.
Widhiastuti, S., Ekasaputra, B., & Jayadi, J. (2020). Analysis of the Influence of Intellectual Capital, Working Capital, and Leverage in Affecting Profitability and Its Relationship on the Value of the Company. Fokus Bisnis : Media Pengkajian Manajemen Dan Akuntansi, 19(1). https://doi.org/10.32639/fokusbisnis.v19i1.614
Yang, T., & del Carmen Triana, M. (2019). Set Up to Fail: Explaining When Women-Led Businesses Are More Likely to Fail. Journal of Management, 45(3). https://doi.org/10.1177/0149206316685856
Zhou, Z., Chen, D., & Xie, S. (Shengquan). (2007). Springer Series in Advanced Manufacturing. Thermoplastics and Thermoplastic Composites, 863–866.