Integration of Activity-Based Costing Modifications and LEAN Accounting into Full Cost Calculation

Stončiuvienė, Neringa; Ūsaitė-Duonielienė, Rūta; Zinkevičienė, Danutė

doi:10.5755/j01.ee.31.1.23750

Cited by 9 publications

(8 citation statements)

References 24 publications

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“…Given users' preference for affordable products, comprehensive calculations are conducted to ascertain the product's selling price. Stonciuviene et al [38] utilized the Full Costing Method, meticulously considering direct, indirect production, and indirect administration costs to determine production expenses. Subsequently, the selling price is derived from the production cost, calculated for a single product produced per day.…”

Section: Resultsmentioning

confidence: 99%

Design of Flood Barrier with Developed IoT-Based Flood Detection and Monitoring Systems

Ardani,

Caesaron,

Kusnayat

2023

Jurnal Teknik Industri

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Due to Indonesia's tropical climate, it experiences frequent heavy rainfall, which is the primary cause of flooding. Despite various solutions implemented, the issue of flooding persists. Consumers demand an effective emergency flood protection solution to prevent water from entering homes at any time. This product is a flood barrier specifically designed for installation at the front door of houses. The development of this flood barrier product aims to address user needs and ensure flood resistance. To achieve this, the Kano Method and Quality Function Deployment (QFD) are utilized in the product design process, aligning it with customer desires. The Finite Element Analysis (FEA) is employed in testing to assess the flood barrier's ability to contain water effectively. Moreover, the data representing the user requirements is collected from residents in the Baleendah area. Those residents houses have been affected by flooding. This area faces significant economic losses due to flooding, estimated at IDR 5,490,292,000,000. Bandung Regency is projected to have the highest frequency of flooding incidents in West Java in 2022, contributing to the broader issue of flooding in the province and country. The developed flood barrier product has successfully met most customer needs, leading to customer satisfaction. The product offers a reasonable price, customer customization options, and user-friendly features. The integration of Internet of Things (IoT) capabilities has been well received by users. The flood barrier product also demonstrates its efficacy in retaining floodwater through its low equivalent elastic strain, equivalent stress, and deformation values against hydrostatic pressure. These attributes enable the product to withstand floodwaters and prevent their entry into households.

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Section: Resultsmentioning

confidence: 99%

Design of Flood Barrier with Developed IoT-Based Flood Detection and Monitoring Systems

Ardani,

Caesaron,

Kusnayat

2023

Jurnal Teknik Industri

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“…Some analytical cost methods divide the costs into direct and indirect and measure their cost individually [34]. Estimation of the indirect cost may profoundly impact the organization's business strategy and its total profit.…”

Section: Analytical Cost Estimation Techniquesmentioning

confidence: 99%

Cost-Based Decision Support System: A Dynamic Cost Estimation of Key Performance Indicators in Manufacturing

Psarommatis

Danishvar

Mousavi

et al. 2024

IEEE Trans. Eng. Manage.

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An attempt is made to translate five generic key performance indicators (KPIs) into a continuous real-time cost function in a batch order-based manufacturing environment. The challenge of controlling and optimizing resource utilization, production efficiency, product-process quality, environmental impact, and inventory was specified by microelectronics and hard metal composite manufacturers. The motivation is to facilitate decisionmaking by converting operations management data into dynamic financial cost models. The process of interpreting engineering data of the physical level and operations management level into financial metrics creates a common language between engineers, managers, and financial departments of the company whose common objective is the profitability of the company, each with their own priorities. The proposed method provides a realistic representation of the performance of the system in monetary value. The integration may become an instrument of effective and efficient tactical and strategic collective decision-making. The main outcome is a near real-time formulation and prediction of manufacturing cost with respect to the five KPIs. The resultant cost function is verified according to several production scenarios. The case study demonstrating the proposed cost modeling methodology utilizes real-time and historical information from two different industrial partners in Tungsten metallurgy and electronic circuit manufacturing industries.

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“…Unlike the analogical CPC approach, the parametric CPC approach requires past/historical data, and is more suitable to be applied to the early design stage without any prior knowledge about manufacturing plans [41]. As one of the most famous analytical CPC approaches, the activity-based costing (ABC) methodology has been developed in [42] to address the increasing share problem caused by the indirect fixed costs (which have significant roles in cost models of manufactured products). Note that the ABC method is, in fact, a costing model that assigns resources/costs (demanded by each production activity) to all services and products at every stage of production, delivery and marketing.…”

Section: Literature Reviewmentioning

confidence: 99%

Reliable Cost Prediction and Control for Intelligent Manufacture: A Key Performance Indicator Perspective

Geng,

Mousavi,

Markatos

et al. 2024

IJNDI

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Article Reliable Cost Prediction and Control for Intelligent Manufacture: A Key Performance Indicator Perspective Hang Geng 1,*, Alireza Mousavi 2, Nikolaos Grigorios Markatos 2, Kai Chen 1, and Xuan Gou 1 1 School of Automation Engineering, University of Electronic Science and Technology of China, Chengdu 611731, China 2 Department of Computer Science, Brunel University London, Uxbridge, Middlesex, UB8 3PH, United Kingdom * Correspondence: Hang.Geng@uestc.edu.cn Received: 10 July 2023 Accepted: 11 October 2023 Published: 26 March 2024 Abstract: Intelligent manufacturing is facing significant challenges in adapting to the ever-changing equipment, instrumentation, process and economics. Such a trend together with the pressure to reliably control and contain production costs means that frequent adjusting decisions are required to adapt to incessant volatility imposed on manufacturing systems. Under this circumstance, cost-effective and quality-guaranteed manufacturing strategies would be the most logical route to reducing production costs. In this paper, a novel dynamical cost prediction and control (CPC) model is proposed to support collective decision-making in intelligent manufacturing, where the model output is the real-time prediction of possible manufacturing costs, while the inputs are generic manufacturing key performance indicators covering inventory, product quality, production efficiency, resource utilisation and environmental impact. This proposed CPC model distinguishes itself from existing ones for its capability to translate manufacturing data (at both the physical level and operation management level) into financial metrics that contribute to forming a common language between engineering, financial and administrative departments of an enterprise. The case study about the assembly line of optoelectronic devices demonstrates that, although different enterprise departments have different priorities, our CPC model helps them to achieve certain consensus on intended production that finally creates satisfactory profitability for the company at controlled manufacturing costs.

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Integration of Activity-Based Costing Modifications and LEAN Accounting into Full Cost Calculation

Cited by 9 publications

References 24 publications

Design of Flood Barrier with Developed IoT-Based Flood Detection and Monitoring Systems

Design of Flood Barrier with Developed IoT-Based Flood Detection and Monitoring Systems

Cost-Based Decision Support System: A Dynamic Cost Estimation of Key Performance Indicators in Manufacturing

Reliable Cost Prediction and Control for Intelligent Manufacture: A Key Performance Indicator Perspective

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