http://doi.org/10.22373/jose.v4i2.2941  
Received: 5 Juli 2023, Revision: 3 Oktober 2023, Accepted: 23 September 2023.
E-ISSN: 2774-3543; P-ISSN: 2774-3551,	
Copyright @2023. Published by Program Studi Ekonomi Syariah Pascasarjana UIN Ar-Raniry

ANALYSIS OF COST AND REVENUE: EMPIRICAL STUDY OF BUSINESS UNIT WAKAF ANISA BAKERY

Andi Triyawan1
Universitas Darussalam Gontor, Indonesia
Ika Prastyaningsih2
Universitas Darussalam Gontor, Indonesia 
Nabila Dwi Syahreni3
Universitas Darussalam Gontor, Indonesia

E-mail: 1anditriyawan@unida.gontor.ac.id, 2ikaprastyaningsih@unida.gontor.ac.id, 3nnabila.336@gmail.com 
ABSTRACT:
The purpose of this study was to analyse the costs and revenues of the Annisa Bakery business unit of Gontor Putri Campus 1. This research uses a qualitative descriptive method with a case study approach at the Annisa Bakery Business Unit in Mantingan, Ngawi, and East Java. Data is collected by recording financial costs and sales results in 1 production process. The results of this study are the revenue earned by the Annisa Bakery business unit in 1 month on average of Rp 46,336,500.- while the total costs incurred by the Annisa Bakery business unit are Rp 18,817,500.- and the bread business at the Annisa Bakery business unit is said to be feasible because the R / C ratio value is more than 1 where 3.40> 1.

Keywords: Revenues, Costs, Bakery, Gontor.
		
ABSTRAK:
Tujuan dari penelitian ini adalah menganalisis biaya dan pendapatan unit usaha annisa bakery gontor putri kampus 1. Penelitian ini menggunakan metode deskriptif kualitatif dengan pendekatan studi kasus di Unit Usaha Annisa Bakery di Mantingan, Ngawi, Jawa timur. Data dikumpulkan dengan cara pencatatan keuangan baik biaya maupun hasil penjualan dalam 1 kali proses produksi. Hasil dari penelitian ini adalah pendapatan yang diperoleh unit usaha Annisa Bakery dalam 1 bulan rata-rata sebesar Rp 46.336.500.- sedangkan biaya total yang dikeluarkan unit usaha Annisa Bakery sebesar Rp 18.817.500.- dan usaha roti pada unit usaha Annisa Bakery dikatakan layak karena nilai R/C Rasio-nya lebih dari 1 dimana 3,40 > 1.
	
Kata kunci: Pendapatan, Biaya, Bakery, Gontor.

INTRODUCTION
Gontor is an educational institution that has successfully developed productive waqf. One of the business units that has been developed by Gontor is Bakery. This productive waqf is a form of creative economy developed in the pesantren environment where the profits are intended for the development of pesantren both in the field of education or poverty alleviation through various activities. Furthermore, the creative economy transforms human resources (HR) into capital in the development process that starts from ideas, ideas, and thoughts. The development Waqf is a manifestation of optimism and inspiration to support the realisation of Gontor's vision of becoming a Independence Education Institution. This includes ideas, aspirations, imagination, and dreams for a society with a high quality of life and prosperity. 
The opportunities for creative economic development have also reached the world of education, including Islamic boarding schools. Many pesantrens have ventured into developing the creative economy, such as the Pondok Modern Darussalam Gontor, a pesantren known for its Islamic educational spirit. It has now expanded to embrace contemporary trends in empowering its students.  When we talk about Waqf, the term of Waqf is not explicitly written in the Qur'an. Islamic scholars use general verses related to the commandment of Shodaqah, such as in Surah Al Baqarah verses 261-262, Allah SWT provides information about the multiplied rewards and goodness for people who spend their wealth in the way of Allah.
مَّثَلُ ٱلَّذِينَ يُنفِقُونَ أَمۡوَٰلَهُمۡ فِيْ سَبِيْلِ ٱللَّهِ كَمَثَلِ حَبَّةٍ أَنۢبَتَتۡ سَبۡعَ سَنَابِلَ فِي كُلِّ سُنۢبُلَةٍ مِّاْئَةُ حَبَّةٍۗ وَٱللَّهُ يُضَٰعِفُ لِمَنْ يَشَآءُۚ وَٱللَّهُ وَٰسِعٌ عَلِيمٌ
(2:261) “The example of those who spend their wealth in the Way of Allah is like that of a grain of corn that sprouts seven branches, and in every branch there are a hundred grains. Thus, Allah increases the deeds of everyone He pleases. Allah is Magnificent and All-Wise.”
By this value, Pesantren is a good and admirable Education institution in developing Waqf. Various parties put their hopes on pesantren as a gateway to realising civil society by enhancing Waqf. Pondok pesantren are educational institutions that can contribute to society and realise a combination of Islamic values, Indonesian identity, and knowledge. Pondok Modern Darussalam Gontor is one such educational institution that provides ample opportunities for students to learn to be part of the community and engage in economic activities.
On the other hand, a company is an organisation that aims to generate profit or revenue. Profit can be used by the company to maintain its existence, advance its operations, and contribute to its growth. Also, companies must strive to produce quality goods and services at prices that are affordable to consumers.
One of the principles formulated by Gontor is to protect the economy in the pesantren's protective economy through effective management in the pesantren culture. This principle aims to maintain internal financial circulation. Thus, funds that have been developed around the campus environment can be utilised within the campus itself. To realise this economic system, Gontor has established business units, such as a bakery, photocopy centre, laundry, minimarket, La Tansa, and others.
The position of Pondok Modern Darussalam Gontor is an independent institution that does not depend on any external institutions. All policies are solely determined by the kyai or coaches in the institution. Ecoprotection is a form of protection in order to empower the economy, free itself from dependence, and build and maintain its existence through economic actualisation in its management functions.
Economic independence is needed so that pesantren can develop and maintain themselves as part of their contribution to the nation's moral education. In other words, ecoprotection is a strategy that reflects the role of an institution by using a bottom-up system to achieve the ideals of pesantren economic independence accompanied by rights, obligations, and responsibilities.
The food and beverage industry plays an important role in the economic growth of Pondok Modern Darussalam Gontor Putri Campus 1. The importance of this industry can be seen from the many small and large-scale industries that flourish. One industry that remains alive and continues to grow is the bread industry. Bread is a food made from wheat flour, water, and yeast that undergoes a process of fermentation and baking in an oven. The ingredients and processes involved give bread its distinctive texture. Based on the final processing method, bread can be categorised as steamed, baked, or fried.
Annisa Bakery Gontor Putri 1, located in Mantingan, Ngawi, East Java, is one of the bread-making industries that produces various flavours such as chocolate, chocolate-cheese-peanut, cappuccino, blueberry, strawberry, coconut, crimson, and other flavours. The raw materials used consist of various types of wheat flour, eggs, baking powder, margarine, and others. Wheat flour, as the main raw material in bread production, is crucial. To ensure the continuity of the production process and the availability of raw materials, it is important to apply inventory control methods that can manage raw material stocks efficiently.
Inventory refers to materials, components, work-in-progress, and finished products that the company stores in order to support the production process and meet customer or client demand at a certain time. According to Assauri, inventory control is one of the closely interconnected activities in the overall production operations of a company, which involves planning and managing aspects such as time, quantity, quality, and cost.
Raw material inventory plays an important role because company operations depend on the availability of raw materials. In simple terms, the basic concept of a system refers to a collection or set of elements, components, or variables that are organised, interrelated, interdependent, and integrated.
Data obtained from the person in charge of Annisa Bakery shows that daily revenue or turnover ranges from Rp.3,900,000 to Rp.6,000,000, and monthly revenue ranges from Rp.135,000,000 to Rp.143,000,000. The main goal of business activities is to achieve high revenue. The cost of raw materials used in bread production will affect the revenue earned. Since profit is the income earned after deducting all costs, it is very important to determine the level of income from a business activity, especially for the Annisa Bakery Unit at Gontor Putri Kampus 1.

RESEARCH METHOD
This study utilizes a descriptive method with a case study approach at the Annisa Bakery Business Unit in Mantingan, Ngawi, East Java. The data is collected through financial recording, encompassing both costs and sales outcomes from a single recent production process, to provide an overview of the income. The data analysis in this research aims to calculate the magnitude of expenses, receipts, income, as well as the Cost-Revenue (R/C) ratio of the Annisa Bakery industry at Gontor Putri Kampus 1.
Calculating business income can be done by determining the difference between total revenue (TR) and total costs (TC). Business revenue is the multiplication of production and the selling price of Bakery bread products, while costs refer to all cash expenditures used for the procurement of production factors. This can be formulated as follows:
π = TR – TC 
Description 
π = Income 
TR = Total Revenue 
TC = Total Cost
To calculate the revenue of Annisa Bakery, it is done by multiplying the total production with the selling price, which can be formulated as follows:
TR   = P × Q 
TC   = fc + vc 
Keterangan: 
TR = Total Revenue 
P = Price 
Q = Quantity
Fc: Fixed Cost
Vc: Variable Cost

RESULT AND ANALYSIS
Cost Analysis
Costs can be classified into several categories, including production costs. According to Soemarso, production costs are costs incurred in the production process during a certain period. These costs consist of initial process costs plus factory costs, including costs charged to the final work-in-process inventory.
According to Mulyadi, production costs are sacrifices of economic resources measured in units of money that have occurred for a specific purpose. Meanwhile, according to Mas'ud Machfoed (1989), the definition of production costs is the costs used to value inventory as listed in the financial statements, and the amount is relatively larger than other types of costs that occur repeatedly in the same routine pattern.
Cost is a requirement that must be met by a company or industry because cost is one of the factors supporting the smooth operation of an industry. Total cost is obtained by summing fixed costs with variable costs. Fixed costs are costs that are not affected by the volume of company activities, both in production and sales. In this study, fixed costs include the value of labour wages and monthly electricity payments of Rp. 2,000,000.
Variable costs are costs whose amounts vary proportionally with changes in the volume of activities or operations. These costs vary according to the level of output, including raw material costs, wages, fuel costs, and all other costs that are not fixed. The variable costs of bread production in the "Annisa Bakery" business unit of Gontor Putri Kampus 1 per month, in 1444 AH, are shown in the table below.

Table 1. Fixed Costs of Bread Production in Annisa Bakery Business Unit per Month, in the Year 1444 H.
No.	Categories of Expenses	Rupiah/ month	
1.	Electricity	Rp 2.000.000.-	
Total	Rp 2.000.000.-	

Table 2: Variable Costs of Bread Production in Annisa Bakery Business Unit per Month, in the Year 1444 H.
No.	Categories of Expenses	Rupiah/ month	
1.	Cost of Raw materials	Rp 3.616.000.-	
2.	Cost of Labor	Rp 7.009.000.-	
3.	Other Costs :
•	Gas 
•	salary
•	Transportation 
•	Cost of phone
•	Stationery
•	Petrol
•	Chicken meat
•	food
•	Mixer machine
•	Bread Stickers	
Rp 1.340.000.-
Rp 878.500.-
Rp 140.000.-
Rp 204.000.-
Rp 760.000.-
Rp 150.000.-
Rp 10.000
Rp 975.000.-
Rp 600.000.-
Rp 135.000.-
	
Total	Rp 15.817.500.-	

Table 3: Total Costs of Bread Production in Annisa Bakery Business Unit per Month, in the Year 1444 H.
No.	Categories of Expenses	Nilai (Rp/Bulan)	
1.	Fix Cost	Rp 2.000.000.-	
2.	Cost Variable	Rp 15.817.500.-	
Total	Rp 17.817.500.-	

Tabel 4: Revenue of Bread Production in Annisa Bakery Business Unit per Month, in the Year 1444 H.
No.	Categories of Expenses and Income	Nilai (Rp/Bulan)	
1.	Total  Revenue	Rp 64.154.000.-	
2.	Total  Cost	Rp 17.817.500.-	
Nett REVENUE	Rp 46.336.500.-	

Table 2 shows that variable costs of Rp 15,817,500 must be incurred by the Annisa Bakery business unit every month. Variable costs are determined by the amount of planned production quantity. From a Shariah perspective, the concepts of cost and revenue production in a business are governed by Islamic economic principles, which emphasize fairness, ethical conduct, and social responsibility. 

Analysis of Income for Annisa Bakery Business Unit
Revenue refers to the amount of money received by a company from its activities, mostly from the sale of products or services to customers. Revenue or profit is the difference between sales revenue and all costs incurred during a certain period. The amount of revenue or profit is highly dependent on the level of revenue and the amount of costs incurred in the production process. Revenue is the result obtained from the difference between total revenue (TR) and total costs (TC). The total revenue or profit obtained by the Annisa Bakery business unit is IDR 46,336,500, - where the total revenue obtained is IDR 64,154,000, - deducted by the total production cost of IDR 15,817,500. As seen in Table 4 above, the revenue (TR) is IDR 64,154,000, while the production cost (TC) is IDR 15,817,500. Therefore, the income earned by the Annisa Bakery business unit is IDR 46,336,500 per month.

Analysis of Annisa Bakery Business Unit
Business feasibility is conducted to assess whether a developed business is profitable or not. Based on the results of the managed research data, it is known that the total income of Annisa Bakery business unit amounts to Rp 64,154,000.-, while the total expenses incurred by Annisa Bakery business unit amount to Rp 18,817,500.-. Therefore, the R/C (Revenue/Cost) ratio of Annisa Bakery business unit is:

R/C Ratio	= TR
    𝑇𝐶
= Rp 64.154.000.-
= Rp 18.817.500.- 
= 3,40
Revenue Cost analysis (R/C) is the ratio between total revenue and total production. R/C analysis is used to determine the feasibility of the business being run. This analysis can be calculated by comparing total revenue with total costs (Anggraini: 2008). If R/C > 1, then the business is feasible. The R/C value of 3.40 shows that R/C > 1, which indicates that the bread business at the Annisa Bakery research location is profitable and feasible. Here are some key aspects of how Shariah views cost and revenue production in Anisa Bakery Business:
a.	Ethical Considerations: Anisa Bakery Business is expected to engage in ethical practices in their cost and revenue production. This includes avoiding any form of exploitation, fraud, or deception in transactions. Transparency and honesty in financial dealings are highly valued.
b.	b. Halal and Haram: Shariah law distinguishes between halal (permissible) and haram (forbidden) sources of revenue. Earnings from activities such as gambling, alcohol, pork, and usury (riba) are considered haram. Anisa Bakery Business is expected to ensure that their revenue sources align with Islamic principles.
c.	Fair Pricing: Islamic business ethics emphasize fair and reasonable pricing. Charging excessive or exploitative prices for goods or services is discouraged. Prices of products in Anisa Bakery Business based on fair market value and not take advantage of customers' vulnerabilities.

CONCLUSION
Based on the results and discussions that have been carried out in the previous chapter, the following conclusions can be drawn:
1.	The revenue earned by the Annisa Bakery business unit every month is IDR 46,336,500.
2.	The bread business at the Annisa Bakery business unit is considered feasible because the R / C ratio is greater than 1, with a value of 3.40> 1.
3.	From a Shariah perspective, the concepts of cost and revenue production in Anisa Bakery Business is governed by Islamic economic principles, which emphasize fairness, ethical conduct, and Halal and Haram.

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