Post by Karina Mutiara Kristi

My time in the Industrial Management and System Design (PSMI) Laboratory of Industrial Engineering allowed me to learn in depth about cost accounting. Theoretically, there are a lot of methods that can be applied in counting costs of production; to be specific, in this laboratory, the methods that I’ve learned include: full costing, variable costing, process costing, job order costing, and activity based costing (ABC). These methods were practised one by one in modules every week. In total, there are five weeks including one week of introduction about cost accounting in general. In the introduction week, I learned about cost accounting in general, from some technical terms to short explanations about the methods that we’ll learn in this laboratory. In the following week, I learned about full and variable costing. These methods were focused on the calculation of the cost during production—where full costing calculates all the things that are involved in production time (including materials, labor, manufacturing overheads, and other detailed overheads), while variable costing only calculates on specific margins (usually excluding some overheads). Between these two methods, the full costing method will produce a higher selling price, compared to the variable costing method. Next, in the third week, I learned about process costing, which focused on production with mass numbers and similar features. After that, in the fourth week, I learned about job order costing, which focused on a smaller number of products with specific, distinguished features. Finally, in the fifth week, I learned about the activity based costing method, where the selling price is determined based on the cost drivers. There is no one ‘correct’ method in the application of these methods; we just have to observe the type of business that we have to match with the cost-determining method. I enjoyed my time in this laboratory, because it’s not always about theory, but also some simple but important skills such as communication and discipline. Communication among group members and laboratory assistants were tested to build a good connection between the two sides. As for discipline, I was reminded that little things that we do in one place may cause more matter at another place. Small actions lead to bigger consequences. The laboratory itself has provided a sufficient place to learn, and assistants are amazing in leading these modules. I hope everyone can keep it up and improve for more in the future! System Engineering and Industrial Management (PSMI) Laboratory Hasanuddin University 's laboratory assistants: Puan Maharani Fensylius Sau' Langi' syahni azzahra ds Muhammad Danang Rusdana Suci Lantika Angelica Mallipu Istifada Istifada Naylah Khairunnisa Ridah alpaidah Annisa mufli Salsabila Nuryanti St. Munawarah Farhan Adam Adhe Kantary Mohammad Aidil Fitrah A Muh Ammar Shoddam Muhammad Haikal Saputra