OVERHEADS

OVERVIEW

Objective

„ To describe the principles and processes of overhead cost analysis.

OVERHEADS Terminology
Allocation, apportionment
& absorption

SERVICE ABSORPTION ACCOUNTING

DEPARTMENTS FOR
Overview Blanket v Predetermined rates
Apportionment (secondary) departmental Under/over absorption
Direct method Non-manufacturing
Step-down method overheads
Reciprocal methods
ACTIVITY-
BASED COSTING
(ABC)
Attributes
Summary

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1 OVERHEADS

1.1 Terminology

„ Overheads are costs that cannot be charged directly to cost

units.

„ Therefore must be shared on an equitable basis.

1.2 Allocation, apportionment and absorption

Most businesses assign overheads to products by

„ allocation and apportioning overheads to cost centres, and

„ absorbing costs accumulated in cost centres into cost units.

1.2.1 Allocation

„ Charging to a cost centre those overheads that result solely from its existence, e.g.

Cost centre Allocated cost

Canteen Tea bags, spaghetti, chef’s wages

Packing department Cardboard, string

1.2.3 Apportionment

„ When an overhead is common to more than one cost centre it must be shared out or split on an
equitable basis, e.g.

Cost Possible bases of apportionment

Rent & rates Square metres occupied by departments

Light & heat Cubic capacity or metered usage
Insurance of stocks Value of stock holding at each location

1.2.4 Absorption

„ Attributing the overheads accumulated by a cost centre to the cost units passing through it,
e.g.

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Illustration 1

Pocket calculators manufactured in a single production dept with £15,000 overheads.

Planned production is 5,000 units
£15,000
∴ overhead absorption rate per unit = = £3/unit
5,000

1.3 Absorption bases

1.3.1 Absorption per unit

„ As illustrated above – is appropriate if only one type of unit is produced by a cost centre.

1.3.2 Absorption per labour hour

„ Appropriate where more than one type of unit is produced each taking a different amount of
time.

Illustration 2

Sam produces calculators and computers in one production department, with £15,000
overheads. He has planned production of 3,000 calculators each taking 1 hour, and
2,000 computers each taking 6 hours.

Solution

Total overheads
Overhead absorption rate per hour =
Total planned hours worked
£15,000
= = £1/hour
(3,000 × 1) + (2,000 × 6)

Overhead per calculator = 1 hr @ £1/hr = £1

Overhead per computer = 6 hrs @ £1/hr = £6

„ This is a fairer method of absorbing the overhead as it recognises the greater time taken to
produce a computer rather than a calculator.

1.3.3 Alternative bases

„ Per kg of material used.

„ Per machine hour.
„ Percentage of material cost (also labour cost or prime cost).

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Example 1

Budget for May £

Canteen costs 4,100
Machine depreciation 1,700
Machine repairs 500
Factory rent & rates 6,300
Production manager’s salary 7,200
Heat & light 3,200
Materials storage 2,000
______
25,000
______

Production data
Sofas Chairs
Volume (units) 100 400
£ £
Direct costs per unit:
Materials (£10.00 per kg) 80.00 30.00
Labour (£2.50 per hr) 105.00 42.50

Other information

Sofas and chairs pass through two production cost centres; the Assembly department
and the Trimming department. A sofa takes 24 hrs in the Assembly department and 18
hrs in the Trimming department. A chair takes 9 hrs in the Assembly department and 8
hrs in the Trimming department.

Labour wage rates in both departments are the same.

The Assembly department occupies approximately three quarters of the area of the
factory.

The production manager, on average, spends twice as long supervising the 30 workers
in the Assembly department as he does supervising the 70 workers in the Trimming
department.

The written down value of the equipment in the Assembly department and the
Trimming department is £104,500 and £115,500 respectively.

Materials storage costs should be apportioned two fifths to Assembly and three fifths to
Trimming.

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Required:

(a) Using appropriate bases apportion total overheads between the

two cost centres. Calculate an absorption rate per hour for each cost centre.

(b) Calculate the overhead cost per unit for each product.

Solution

(a) Overhead
Basis Ratio Assembly Trimming
£ £
Canteen
Machine depn &
machine repairs
Rent and rates
Prod man’s salary
Heat and light
Materials storage
______ ______

______ ______
WORKINGS

(1) Assembly – overhead absorption rate

Total direct labour hours:

WORKING Hours
Sofas
Chairs
_____

_____
Absorption rate =

(2) Trimming – overhead absorption rate

Total direct labour hours:

WORKING Hours
Sofas
Chairs
_____

_____
Absorption rate =

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(b) Overhead cost per unit

WORKINGS £
Sofas: Assembly
Trimming
_____

_____
Chair: Assembly
Trimming
_____

_____

2 SERVICE DEPARTMENTS

2.1 Overview

Steps
Rent Electricity Indirect Indirect Establish cost centres and
materials labour
1 Allocate and
2(a) apportion
overheads to cost centres

Production Production Service

cost centre 2(b) Reapportion service
cost centre 1 cost centre 2 n
eg canteen dept costs to prod
eg assembly eg packing
cost centres

n
Product X 3 Absorb prod cost
centre overheads into
Product Y
cost units via
Product Z absorption rates

Direct Direct
materials labour

2.2 Explanation

„ Absorption is the process of charging overhead into a cost unit. The overhead is absorbed
while a product passes through a cost centre.

„ Products do not pass through service cost centres and therefore an absorption rate will not be
calculated for the service cost centre. Absorption rates are only calculated for production
departments.

„ This is why overhead in service cost centres must be reapportioned to production cost centres.
.

„ This secondary apportionment should be done on a fair basis to reflect the benefit derived
from the service centre.

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Example 2

A firm has two production departments and two service departments. It makes two
products and its total overhead bill for the year is as follows.
£
Rent 20,000
Depreciation – machinery 10,000
– buildings 8,000
Electricity 5,000
Indirect materials 15,000
———
58,000
———

The following statistics are available.

Production Production Service Service

Dept 1 Dept 2 Dept 1 Dept 2
Pressing Assembly Canteen Maintenance
Area (M2) 2,500 5,000 1,000 1,500
Machine value (£) 1,000 5,000 1,000 3,000
KW hour rating of machinery 10,000 10,000 2,500 2,500
Indirect materials consumed (£) 5,000 5,000 3,700 1,300

Required:

STEPS 1 and 2(a) – Allocate (1) and primarily apportion (2(a)) overheads to cost centres.

Overhead Total Basis Pressing Assembly Canteen Maintenance

£ £ £ £ £
Rent 20,000
Machine Dep’n 10,000
Buildings 8,000
Electricity 5,000
Indirect materials 15,000
______ ______ ______ _____ _____
58,000
______ ______ ______ _____ _____

STEP 2(b) – Reapportion service department costs to production cost centres

(secondary apportionment)

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Usage of service department costs is estimated as

Pressing Assembly Canteen Maintenance

Use of canteen 50% 30% 20%
Use of maintenance 55% 40% 5%

A situation of reciprocal services is apparent i.e. the canteen does 20%

of its work for the maintenance department and the maintenance
department does 5% of its work for the canteen.

3 treatments are possible:

„ Direct method
„ Step-down method
„ Reciprocal method – 2 methods

Continuous reapportionemnt Algebraic (simultaneous equations)

2.3 Direct method

„ Reciprocal services (if any) are ignored. The service department costs are reapportioned to
production departments only.

Pressing Assembly Canteen Maintenance

£ £ £ £
15,000 26,000 8,000 9,000
Canteen (50:30) (8,000)
Maintenance (55:40) (9,000)
——— ——— ——— ———
– –
——— ——— ——— ———

2.4 Step (down) method

„ Services that do most work for other service departments are allocated first. Reciprocal
services (if any) are then ignored.

Pressing Assembly Canteen Maintenance

£ £ £ £
15,000 26,000 8,000 9,000
Canteen (50:30:20)
——— ——— ——— ———

Maintenance (55:40)
——— ——— ——— ———
– –
——— ——— ——— ———

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2.5 Reciprocal methods

„ Reciprocal services are fully recognised. May be solved by continuous re-apportionment or

algebraically.

2.5.1 Continuous re-apportionment

Pressing Assembly Canteen Maintenance

£ £ £ £
15,000 26,000 8,000 9,000
Canteen (50:30:20)
——— ———

Maintenance (55:40:5)
——— ———

Canteen (50:30:20)
——— ———

Maintenance (55:40:5)
——— ———

Canteen (50:30)
——— ——— ———

——— ———

2.5.2 Algebraic (simultaneous equations)

Let c be

Let m be
c =
m =

There are numerous ways in which these equations can be solved either simultaneously
and/or by substitution – the suggested solution is only one way.

c =
m =

Pressing Assembly Canteen Maintenance

£ £ £ £
15,000 26,000 8,000 9,000
Canteen (50:30:20)
Maintenance (55:40:5)
——— ——— ——— ———
– –
——— ——— ——— ———

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STEP 3

The firm’s two products have the following direct costs per unit.

Product A B
£ £
Direct Materials 7.00 5.00
Direct Labour
Pressing A: 3 hrs/unit 15.00
B: 2 hrs/unit 10.00
Assembly A: 2 hrs/unit 8.00
B: 1 hr/unit 4.00
——— ———
Prime cost 30.00 19.00

Production volume is 1,000 units of A and 2,000 units of B.

It has been decided to absorb overheads into products on the basis of labour hours.

Required:

Calculate the overhead costs of the two products.

Note: A reciprocal method must be used for reciprocal services unless told otherwise.

Units Pressing Assembly

Overhead £25,156 £32,844
Direct labour hours A

——— ———

——— ———

Rate per hour

Overhead cost per unit Hours A B

Pressing

Assembly
_____ _____
Overhead cost per unit
_____ _____

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3 ABSORPTION

3.1 Departmental rates

„ Are calculated, as above, by the “two-stage” process of

− allocating and apportioning overheads to cost centres
− absorbing costs into cost centres.

„ Non-machine departments – direct labour hours.

„ Machine departments – machine hour rate.

3.2 Blanket rate

„ A single overhead rate computed for the entire factory by omitting the first of these two
stages.

„ Not a satisfactory method where a factory consists of a number of different production

centres and products consume cost centre overheads in different proportions.

‰ Cost units passing through centres with high overhead costs (e.g. machine shops)
will be under-costed

‰ Those passing through low overhead centres (e.g. an assembly department) will be
over-costed.

„ May be used where they are an approximation to departmental rates as they simplify product
cost calculations.

4 ACCOUNTING FOR OVERHEADS

4.1 Steps in accounting for production overheads

„ As management needs to know overhead costs per unit in advance e.g. to ensure sales price
covers all costs, they calculate predetermined overhead absorption rates, i.e.
Budgeted (forecast) overheads for the next year
Budgeted (forecast) activity (e.g. direct labour hours)

„ This standard absorption rate is then used during each period (e.g. month) to charge
production overheads through the management accounting profit and loss account.

„ For example every time labour works one hour a standard amount of overhead is charged into
cost of sales.

„ Total overhead absorbed = standard rate x actual activity during the period .

„ At the end of each period the cost accountant must check that the correct amount of overhead
has been charged through the profit and loss account.

„ If overhead absorbed > actual overhead incurred then this is described as over-absorption and
the difference is written off as a credit to cost of sales or to the profit figure (there is on rule
about exactly where the adjustment is made).

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„ If overhead absorbed < actual overhead incurred then this is described as under-absorption
and the difference is written off as a debit to cost of sales or to the profit figure.

„ Under/over-absorption is particularly likely to occur with fixed production overheads.

Remember that the pre-determined/standard absorption rate is often calculated using budgeted
data for the next year and is then used to charge overheads in specific month.

„ Activity in a specific month may be higher or lower than the long-run average level used to
calculate the standard rate.

„ If activity in a particular period is higher than normal levels then too much fixed cost will be
charged into cost of sales i.e. over-absorption. If activity is below normal levels then under-
absorption will occur.

„ You may feel that the above system for accounting for overheads is rather complex – rather
than simply showing the actual overhead for a period (as in financial accounting) we go
through three steps when showing cost accounting i.e.

(1) in advance calculate standard absorption rate

(2) during the period use the standard rate to charge overhead through
the cost accounts (standard rate x actual activity)

(3) at the end of the period reconcile overhead absorbed to actual

overhead incurred by making an adjustment for under/over-
absorption.

„ There are two reasons you should show the detailed accounting for overheads in the paper 1,2
exam:

– to demonstrate that cost accounts are produced on a continual basis

e.g. every time one hour is worked a charge is made for overheads

– to ensure you get all the marks! Although there is no rule in practice
which tells management accountants how to deal with overheads
the way it is shown in this study system is according to the syllabus.

„ The next section works through the calculation of under/over-absorption and should help to
clarify the system. Furthermore you will see under/over-absorption again in session 6 on
absorption costing.

4.2 Under/over-absorption of manufacturing overheads

Illustration 3

Continuing with Example 2, the following figures applied to the assembly department.

Budgeted Actual
Overhead £32,844 £35,742
Direct labour hours 4,000 hrs 4,200 hrs

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Solution

£32,844
Predetermined absorption rate = = £8.211 per direct labour hour
4 ,000

£
Actual overhead incurred 35,742
Overhead absorbed (recovered)
Actual hours × Predetermined absorption rate
(4,200 × £8.211) 34,486
_____
Under-absorption
1,256
_____

„ Under/ (over) absorption is simply written off in total through the profit and loss account i.e.
is not split between the profit and loss account and balance sheet. .

4.3 Non-manufacturing overhead

4.3.1 Selling overheads

„ Benefit received by a cost unit is usually in proportion to its value ∴

Total selling overheads

„ Selling overhead rate = × 100%
Total factory cost of all sales

4.3.2 Distribution overheads

„ A distribution department is very similar to a production department in that there is

‰ direct materials – e.g. packing cases, air products

‰ direct labour – e.g. packers and van drivers
‰ direct expenses – e.g. freight
‰ departmental overhead – e.g. supervision, light & heat
‰ machinery – fork lift trucks, vehicles, etc.

„ Therefore can be treated similarly.

4.3.3 Administration overheads

„ So unrelated to production and selling that any basis of apportionment is very subjective but
possible methods are to.

‰ apportion between production, distribution and selling departments

‰ further apportionment within departments based on number of employees.

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4.4 Concluding remarks

„ This session is perhaps the most complex of the three concerning resource inputs. However
for decision making, overhead apportionment and absorption may be considered as irrelevant
due to the subjective nature of sharing overheads between products.

„ That does not mean that the analysis of overheads becomes redundant as for many
organisations they constitute a large proportion of totals costs.

„ Overheads may therefore need to be analysed more accurately and ways of absorbing
overheads looked at more closely, to ensure appropriate costs per unit are calculated.

„ The following section on Activity Based Costing (ABC) suggests a method of analysing
overheads more accurately. This is provided for background purposes; ABC is not likely to
be examined in paper 1.2 but is important for later ACCA papers.

5 ACTIVITY-BASED COSTING

5.1 Attributes

„ A more refined approach to assigning overheads to products and calculating product costs.
„ Provides product cost information more relevant to decision-making purposes than absorption
costing.
„ Recognises that in the long run most manufacturing costs are not fixed.
„ Assumes that activities cause costs and that products (and customers) create demand for
activities.

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5.2 Overview of system

Examples

Step 1 Identify Machine-related (machining cost centres)

major Labour-related (assembly departments)
activities Support activities (ordering, materials
handling, despatching)

Step 2 Determine “cost Number of set-ups for production scheduling

driver” for each Power costs for machine hours
t
activity Number of despatch orders for despatch dep

Step 3 Create a cost

centre/pool for
each activity

Step 4 Trace cost of Using cost drivers as measure of demand.

activities to
product

Illustration 4

Products A B
Quantity produced 5,000 7,000
Direct labour hours per unit 1 2
Machine hours per unit 3 1
Set-ups in the period 10 40
Orders handled in the period 15 60

Overhead costs £000

Relating to machine activity 220
Relating to production run set-ups 20
Relating to handling of orders 45
_____

285
_____

Required:

Calculate the production overhead to be absorbed by one unit of A and B using

(i) a traditional costing approach using labour hour rates to absorb overheads
(ii) an ABC approach, using suitable cost drivers to trace overheads to products.

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Solution

(i) Traditional approach

£285,000
Direct labour hour rate = = £15 per hour
19,000 ( W )

i.e. A £15 × 1 = £15 per unit

B £15 × 2 = £30 per unit

WORKING

Total labour hours: A (5,000 × 1) + B (7,000 × 2) = 19,000

(ii) ABC approach

„ Absorption rates

Machine-hour absorption rate £220,000/22,000 (W) = £10/machine hour

Set-up absorption rate £20,000/50 set-ups = £400/set up

Order absorption rate £45,000/75 orders = £600/order

WORKING

Total machine hours A (5,000 × 3) + B (7,000 × 1) = 22,000 hrs

„ Overhead absorbed
A B
Machine costs (15,000 × £10) 150,000 (7,000 × £10) 70,000
Set-up costs (10 × £400) 4,000 (40 × £400) 16,000
Order costs (15 × £600) 9,000 (60 × £600) 36,000
_______ _______
163,000 122,000
_______ _______

Overhead cost per unit £163,000 £122,000

= = £32.60 = = £17.43
5,000 7 ,000

„ Comparison
A B
(i) TAC £15 £30
(ii) ABC £32.60 £17.43
Change 117% ↑ 41.9%↓

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FOCUS

You should now be able to:

„ describe and justify the process of apportioning manufacturing overhead costs;

„ calculate and apply overhead absorption rates using different methods and discuss their
appropriateness;

„ apportion factory overheads using appropriate bases and re-apportion service centre costs
(including using the reciprocal method;

„ explain, and illustrate, the concept of cost drivers;

„ comment on the use of blanket, departmental, cost driver, actual and predetermined
absorption rate;

„ calculate, explain and account for under or over absorbed overheads;

„ describe and evaluate methods of attributing non-manufacturing overhead costs to units of

output;

„ understand the implications of the cost structure of a business with regard to overhead
analysis.

„ discuss the use of activity based costing (calculations are not examinable);

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EXAMPLE SOLUTIONS

Solution 1 – Allocation, apportionment, absorption of overheads

(a) Overhead
Basis Ratio Assembly Trimming
£ £
Canteen No of employees 30:70 1,230 2,870
Machine depn &
machine repairs WDV 104.5:115.5 1,045 1,155
Rent and rates Area 3:1 4,725 1,575
Prod man’s salary Time spent 2:1 4,800 2,400
Heat and light Area 3:1 2,400 800
Materials storage Allocation 2:3 800 1,200
______ ______
15,000 10,000
______ ______
WORKINGS

(1) Assembly – overhead absorption rate

Total direct labour hours:

Hours
Sofas 100 × 24 = 2,400
Chairs 400 × 9 = 3,600
_____
6,000
_____
15,000
Absorption rate = = £2.50 per direct labour hour.
6,000

(2) Trimming – overhead absorption rate

Total direct labour hours:

Hours
Sofas 100 × 18 = 1,800
Chairs 400 × 8 = 3,200
_____
5,000
_____
10,000
Absorption rate = = £2.00 per direct labour hour.
5,000

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(b) Overhead cost per unit

£
Sofas: Assembly 24 × 2.50 (W1) = 60.00
Trimming 18 × 2.00 (W2) = 36.00
_____
96.00
_____
Chair: Assembly 9 × 2.50 = 22.50
Trimming 8 × 2.00 = 16.00
_____
38.50
_____
Solution 2 – Service departments

“Step 2(a)” – Primary apportionment

Overhead Total Basis Pressing Assembly Canteen Maintenance

£ £ £ £ £
Rent 20,000 Area 5,000 10,000 2,000 3,000
Machine Dep’n 10,000 Value 1,000 5,000 1,000 3,000
Buildings 8,000 Area 2,000 4,000 800 1,200
Electricity 5,000 KW hrs 2,000 2,000 500 500
Indirect materials 15,000 Allocation 5,000 5,000 3,700 1,300
______ ______ _____ _____
15,000 26,000 8,000 9,000
______ ______ _____ _____

“Step 2(b)” – Secondary apportionment

Direct method
Pressing Assembly Canteen Maintenance
£ £ £ £
15,000 26,000 8,000 9,000
Canteen (50:30) 5,000 3,000 (8,000)
Maintenance (55:40) 5,211 3,789 (9,000)
——— ——— ——— ———
25,211 32,789 – –
——— ——— ——— ———

Step (down) method

Pressing Assembly Canteen Maintenance
£ £ £ £
15,000 26,000 8,000 9,000
Canteen (50:30:20) 4,000 2,400 (8,000) 1,600
——— ——— ——— ———
19,000 25,400 – 10,600
Maintenance (55:40) 6,137 4,463 (10,600)
——— ——— ——— ———
25,137 32,863 – –
——— ——— ——— ———

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Reciprocal methods

Continuous re-apportionment

Pressing Assembly Canteen Maintenance

£ £ £ £
15,000 26,000 8,000 9,000
Canteen (50:30:20) 4,000 2,400 (8,000) 1,600
——— ———
– 10,600
Maintenance (55:40:5) 5,830 4,240 530 (10,600)
——— ———
530 –
Canteen (50:30:20) 265 159 (530) 106
——— ———
– 106
Maintenance (55:40:5) 58 42 6 (106)
——— ———
6
Canteen (50:30:20) 3 3 (say) (6)
——— ——— ———
25,156 32,844
etc ——— ———

Algebraic (simultaneous equations)

Let c be the total cost of canteen service department

Let m be the total cost of maintenance service department
c = 8,000 + 0.05m
m = 9,000 + 0.20c
—————————
Rearranging
c – 0.05m = 8,000 (1)
– 0.20c + m = 9,000 (2)

Multiply (1) by 0.2

0.20c – 0.01m = 1,600 (3)
– 0.20c + m = 9,000 (2)
——————————
Add: 0.99m = 10,600
10,600
m =
0.99
m = £10,707
———
Substitute into (1)
c – 535 = 8,000
c = £8,535
————————

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Pressing Assembly Canteen Maintenance

£ £ £ £
15,000 26,000 8,000 9,000
Canteen (50:30:20) 4,267 2,561 (8,535) 1,707
Maintenance (55:40:5) 5,889 4,283 535 (10,707)
——— ——— ——— ———
25,156 32,844 – –
——— ——— ——— ———

“Step 3” – Absorption

Pressing Assembly
Overhead £25,156 £32,844
Direct Labour hours A 1,000 units × 3 hrs 3,000
1,000 units × 2 hrs 2,000
B 2,000 units × 2 hrs 4,000
2,000 units × 1 hr 2,000
——— ———
7,000 4,000
——— ———

Rate per hour £25,156 £32,844

= £3.59 = £8.21
7,000 4,000

Overhead cost per unit A B

Pressing 3 hrs × £3.59 10.77
2 hrs × £3.59 7.18
Assembly 2 hrs × £8.21 16.42
1 hr × £8.21 8.21
_____ _____
Overhead cost per unit 27.19 15.39
_____ _____

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