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首页 horngren_ima15_im_02

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horngren_ima15_im_02

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2014-01-04 0人阅读 举报 0 0 暂无简介

简介:本文档为《horngren_ima15_im_02doc》,可适用于高等教育领域

ChapterCHAPTER:OUTLINEIIdentifyingResources,Activities,Costs,andCostDrivers{LO}CostDriversOutputmeasuresofresourcesandactivitiesEXHIBITshowsthetraditionalandactivitybasedviewsofcostbehaviorToapplytheactivitybasedview,wemustidentifytheresourcesusedbyeachactivityandthecostdriverforeachresourceOrganizationscanhavemanycostdriversInthischapter,volumebasedcostdriversareusedinordertoexaminecostbehaviorSeeEXHIBITforexamplesofcostsandpotentialcostdriversforvaluechainfunctionsIIVariableandFixedCosts{LO}VariableandfixedcostsrefertohowcostbehaveswithrespecttochangesinaparticularcostdriverVariableCostacostthatchangesindirectproportiontochangesinthecostdriverlevel(ie,costsperunitdonotchange,totalcostsdochange)Examplesincludethecostsofmaterials,merchandise,parts,supplies,commissions,andmanytypesoflaborFixedCostacostthatisnotimmediatelyaffectedbychangesinthecostdriverlevel(ie,costsperunitdochange,totalcostsdonotchangewithintherelevantrange)Examplesincluderealestatetaxes,realestateinsurance,manyexecutivesalaries,andspacerentalsEXHIBITsummarizestherelationshipbetweenfixedandvariablecostsSeeEXHIBITfortherelationshipbetweenthereceivingactivityandthecostsofthefuelandequipmentresourcesSeeEXHIBITforthetotalcostlinesfortotalfuelandequipmentleasecostsARelevantRangeRelevantRangethelimits(ie,timeperiodandoractivity)ofcostdriveractivitywithinwhichaspecificrelationshipbetweencostsandthecostdriverisvalidSeeEXHIBITforagraphoffixedcostbehaviorwithinarelevantrangeBDifferencesinClassifyingCostsCostsmaynotactinalinearmannerwithvolumebasedcostdriversExamples:whenlearningaffectstheproductiontime,andthereforethelaborcostofunitsofproductsomecostsmaybeaffectedbymorethanonecostdriverandwhethercostsarevariableorfixedoftendependsonthedecisionsituationIIICostVolumeProfitAnalysis{LO}CostVolumeProfit(CVP)Analysisthestudyoftheeffectsofoutputvolumeonrevenue(sales),expenses(costs),andnetincome(netprofit)ThemajorsimplifyingassumptionistoclassifycostsaseithervariableorfixedwithrespecttothevolumeofoutputactivityACVPscenariofollowsAComputingtheBreakEvenPointBreakEvenPoint(BEP)thelevelofsalesatwhichrevenuesequalexpensesandnetincomeiszeroOnedirectuseoftheBEPistoassesspossibleriskBycomparingplannedsaleswiththeBEP,managerscandetermineaMarginofSafetyhowfarsalescanfallbelowtheplannedlevelbeforelossesoccurMarginofSafety=plannedunitsalesbreakevenunitsalesContributionMarginMethodContributionMargin(CM)PerUnitthesalespriceperunitminusthevariableexpensesperunitTheBEPisreachedwhentotalcontributionmarginequalstotalfixedcostsDividingtotalfixedcostsbytheCMperunitgivestheBEPinnumberofunitsCMPercentageorRatiotheportionofeverysalesdollarthatcontributestocoveringfixedcostsand,hopefully,providesforprofit(dividetotalcontributionmarginbytotalsales)DividingtotalfixedcostsbytheCMpercentage(totalcontributionmargintotalsales)yieldsthesalesdollarsneededtobreakevenTheuseoftheCMpercentageisnecessarywhenafirmproducesmorethanoneproductEquationMethodThebasicincomestatementequationusedforCVPanalysisis:salesvariableexpensesfixedexpenses=netincomeThiscanbedecomposedto:unitsalespricexnumberofunitsunitvariablecostxnumberofunitsfixedexpensesnetincomeAttheBEP,netincomeiszeroLetN=thenumberofunitstobesoldtobreakeven,putinvaluesfortheunitsalesprice,unitvariablecost,andfixedexpenses,andsolveforNTocomputethesalesdollarsneededtobreakevenusingtheequationtechnique,thevariableexpensesmustbeexpressedasapercentageofsales,whichiscalledtheVariableCostRatioorPercentageThen,lettingS=thesalesdollarstobreakeven,solveforSintheequation:S(variablecostratioxS)fixedexpenses=Alternatively,ifyouhavepreviouslysolvedforthenumberofunitsrequiredtobreakeven,youcanmultiplythatresultbytheunitsellingpricetogivethesalesdollarsneededtobreakevenRelationshipBetweentheTwoTechniquesBothapproachesresultinthefollowingshortcutformulas:breakevenvolume(units)=(fixedexpenses)(CMperunit)breakevenvolume(dollars)=(fixedexpenses)(CMratio)BGraphingtheBreakEvenPoint{LO}TheBEPcanalsobefoundbygraphingthecostandrevenuerelationshipsTheprocesstakesthefollowingstepsStep:DrawtheaxesThehorizontalaxis=salesvolume,andtheverticalaxis=dollarsofcostandrevenueStep:PlotsalesvolumeSelectaconvenientsalesvolumeandplotapointfortotalsalesdollarsatthatvolumeThendrawalinebetweentheoriginandthepointStep:PlotthefixedexpensesItshouldbeahorizontallineintersectingtheverticalaxisattheleveloffixedcostsStep:PlotvariableexpensesDeterminethevariableexpensesataconvenientlevelofactivityAddthisamounttofixedexpensesandplotthepointThendrawalinefromtheintersectionoftheverticalaxistothispointThislinerepresentstotalexpenses,andthedifferencebetweenthefixedexpenselineandthisnewlinerepresentsthevariableexpensesStep:LocatethebreakevenpointThebreakevenpointiswherethetotalexpenselinecrossesthesaleslineSeeEXHIBITforanillustrationofaCVPgraphCVPgraphsshowprofitsoverawidevolumerangeeasierthannumericalexhibitsAlmostallbreakevengraphsshowrevenueandcostlinesextendingbacktotheverticalaxisThisapproachmisleadsbecausetherelationshipsdepictedareonlyvalidwithintherelevantrangeTheassumptionsusedinconstructingthetypicalbreakevengraphincludethefollowing:ExpensesmaybeclassifiedintovariableandfixedcategoriesThebehaviorofrevenuesandexpensesisaccuratelyportrayedandislinearovertherelevantrangeEfficiencyandproductivitywillbeunchangedSalesMix(ie,therelativeproportionsorcombinationsofquantitiesofproductsthatconstitutetotalsales)isconstantSeeAPPENDIXAformoreonsalesmixesThedifferenceininventorylevelatthebeginningandendofaperiodisinsignificantCChangesinFixedExpensesIncreases(decreases)infixedexpensesincrease(decrease)theBEPDChangesinUnitContributionMarginIncreases(decreases)intheCMperunitdecrease(increase)theBEPETargetNetProfitandanIncrementalApproach{LO}CVPanalysiscanbeusedtodeterminethetargetsales,inunitsanddollars,neededtoearnatargetprofitUsingeitherthecontributionmarginorequationtechniquesresultsinthefollowingshortcutequationstargetsalesvolumeinunits=fixedexpensestargetnetincomeCMperunittargetsalesvolumeindollars=fixedexpensestargetnetincomeCMratioTheIncrementalApproach(ie,thechangeintotalresultsunderanewconditionincomparisonwithsomegivenorknowncondition)canbeusedDividethetargetnetincomebytheCMperunitandaddtheresulttotheunitBEPtogetthetargetsalesvolumeinunitsLikewise,dividethetargetnetincomebytheCMratioandaddtheresulttothedollarBEPtogetthetargetsalesvolumeindollarsFMultipleChangesinKeyFactorsMultiplefactorchangescanbedemonstratedbyconstructingincomestatementsreflectingthechangesandcomparingbeforechangeandafterchangeresultsAlso,anincrementalapproachcanbeusedtoisolatejusttheeffectsofthechangesandeliminatesirrelevantandpotentiallyconfusingdataGCVPAnalysisandComputerBasedSpreadsheetsNumerouscombinationsoffixedexpenses,sellingprices,variableexpenses,andtargetincomelevelscanbeanalyzedquicklyusingthesecomputerizedspreadsheetsSeeEXHIBITforanexampleofspreadsheetanalysisIVAdditionalUsesofCostVolumeAnalysisABestCostStructureCompaniestrytofindtheirmostdesirablecombinationoffixedandvariablecostfactorsSomechoosetoincreasetheirCMratiosandfixedcostsbyautomating,whileothersmaychoosetolowertheirfixedcostsandlowertheirCMratiosbyputtingtheirsalesforceoncommissionsratherthanpayingsalariesWhentheCMpercentageofsalesislow,greatincreasesinvolumearenecessarybeforesignificantimprovementsinnetprofitsarepossibleAssalesexceedtheBEP,ahighCMpercentageincreasesprofitsfasterthanalowCMpercentageBOperatingLeverageOperatingLeveragethefirm’sratiooffixedandvariablecostsInhighlyleveragedfirms,(ie,thosewithhighfixedcostsandlowvariablecosts)smallchangesinsalesvolumewillresultinlargechangesinnetincomeLessleveragedfirmsshowsmallerchangesinnetincomewithchangesinsalesvolumeAbovetheBEP,netincomeincreasesfasterforhighlyleveragedfirmsHowever,belowtheBEP,lossesmountmorerapidlySeeEXHIBITforagraphcomparinghighversuslowoperatingleverageCMarginofSafetyThemarginofsafetyshowshowfarsalescanfallbelowtheplannedlevelofsalesbeforelossesoccurItcomparesthelevelofplannedsaleswiththebreakevenpoint:marginofsafety=plannedunitsales–breakevenunitsalesAsmallmarginofsafetymayindicateamoreriskysituationDContributionMarginandGrossMargin{LO}GrossMargin(orGrossProfit)theexcessofsalesovertheCostofGoodsSold(ie,costoftheacquiredormanufacturedmerchandisetobesold)ContributionMarginistheexcessofsalesoverallvariableexpensesSeeEXHIBITwhichshowscostsdividedontwodifferentdimensions:grossmarginandcontributionmarginVNonprofitApplicationNonprofitorganizations,suchasgovernmentagencies,canusetheprinciplesofCVPanalysistodeterminehowmanyindividualstheycanservewithlimitedbudgetsandtoassesstheimpactofchangesintheleveloffundingandorcostsontheirabilitytoprovideservicesSeeEXHIBITforagraphicalpresentationofthenonprofitanalysisVIAppendixA:SalesMixAnalysis{LO}SalesMixtherelativeproportionsorcombinationsofquantitiesofproductsthatcomprisetotalsalesIftheproportionsofthemixchange,theCVPrelationshipsmayalsochangeGenerally,sellingahigher(lower)proportionofhighCMproductsthananticipatedresultsinhigher(lower)netincomeFactorsotherthanCMperunitofproduct(eg,CMperunitoftime)canbeusefulinmakingsalesmixdecisions(seeChapterforfurtherexplanation)VIIAppendixB:ImpactofIncomeTaxes{LO}Thetargetsalesequationcanbealteredtothefollowing:targetsalesvariableexpensesfixedexpenses=targetaftertaxincome(taxrate)LettingN=thenumberofunitsofsalesnecessarytoachievethedesiredaftertaxincomeandsubstitutingvaluesforthesellingpriceperunit,variableexpensesperunit,fixedexpenses,targetaftertaxincome,andthetaxrateintotheequation,NcanbesolvedAlternatively,thefollowingshortcutformulamaybeused:changeinnetincome=(changeinvolumeinunits)x(CMperunit)x(taxrate)EachunitbeyondtheBEPaddstoaftertaxnetprofitattheunitCMmultipliedby(incometaxrate)WhenincorporatingincometaxesinCVPanalysis,theBEPdoesnotchangebecausetheBEPisthepointofzeroprofitsTherefore,therearenotaxesonzeroprofitsCHAPTER:QuizDemonstrationExercisesLearningObjectiveCostdriversacanbevolumebasedbaffectthetotallevelofcostsincurredbycompaniescareactivitiesthatcausecoststobeincurreddallofthese​ ProductionisoneofthevaluechainfunctionsWhichoneofthefollowingisnotanexampleofacostdriverforproductioncostsa​ laborhoursb​ numberofpeoplesupervisedc​ salesdollarsd​ machinehoursLearningObjectiveWhichofthefollowingwillnotremainconstant,ifthelevelofcostdriveractivityincreaseswithintherelevantrangeavariablecostperunitbtotalvariablecostsctotalfixedcostsd​ totalcostse​ AandCf​ B,C,andDThelimitsofcostdriveractivitywithinwhichaspecificrelationshipbetweencostsandthecostdriverisvalidiscalleda​ variablerangeb​ totalrangec​ relevantranged​ validrangeLearningObjectiveItemsandarebasedonthefollowingdata:Maple,Inc,producesandsellsthefinestqualitypooltablesinallofAlamedaCounty,CaliforniaThecompanyexpectsthefollowingsalesandexpensesinforitstables:Sales(,tables$pertable)$,Variableexpenses,Fixedexpenses,HowmanytablesmustbesoldinorderforHardwood,Inc,tobreakevenabcdWhatdollaramountofsalesoftablesisnecessarytobreakevena$,b$,c$,d$,LearningObjectiveWhichofthefollowingisnotanassumptionofcostvolumeprofitanalysisaThebehaviorofrevenuesandexpensesisaccuratelyportrayedandislinearovertherelevantrangebExpensescanbeclassifiedintovariableandfixedcategoriescSalesmixwillbeconstantdEfficiencyandproductivitywillbothincreasee​ Theinventorylevelattheendoftheperiodwillbeinsignificantlydifferentfromthatatthebeginning​ Increaseincontributionmarginperunita​ increasesbreakevenpointb​ decreasesbreakevenpointc​ doesnotchangebreakevenpointd​ meansthereisachangeinfixedcostperunitLearningObjectiveItemsandarebasedonthefollowingdata(ignoreincometaxes):Mapple,Inc,manufacturesandsellsIpedsAprojectedincomestatementfortheexpectedsalesvolumeof,Ipedsisasfollows:Sales$,,Variableexpenses,,Contributionmargin$,,Fixedexpenses,,Beforetaxprofit$,,HowmanyIpedswouldneedtobesoldtohaveabeforetaxprofitof$,,a,d,b,e,c,fnoneoftheaboveWhatdollarsalesvolumewouldberequiredtoachieve$,,ofbeforetaxprofita$,,b$,,c$,,d$,,esomeotheramountLearningObjectiveThedifferencebetweensalesandcostofgoodssoldiscommonlycalledacontributionmarginboperatingincomecgrossprofitdexcesssales​ Ifvariablesellingexpensesincrease,thencontributionmargin(assumingallelseconstant)musta​ staythesameb​ increasec​ decreased​ needmoreinformationLearningObjectiveTwinCoproducesandsellstwoproductsProductAsellsfor$andhasvariableexpensesof$ProductBsellsfor$andhasvariableexpensesof$Itpredictssalesof,unitsofAand,unitsofBFixedexpensesare$,permonthAssumethatTwinCohitsitssalesgoalforFebruaryof$,,andexceedsitsexpectedbeforetaxprofitof$,WhathashappenedaTwinCosold,unitsofproductAandnoproductBbTwinCosoldmoreofbothproductsAandBthanexpectedcTwinCosoldmoreofproductAandlessofproductBthanexpecteddTwinCosoldmoreofproductBandlessofproductAthanexpectedBreakeveninunitsforamultiproductfirmiscalculatedasfixedcostsdividedbya​ thesumofthecontributionmarginpercentagesforeachproductb​ theweightedaveragecontributionmarginofalltheproductsc​ thesumoftheindividualproductcontributionmarginsd​ itisnotpossibletocalculatebreakeveninunitsforamultiproductfirmLearningObjectiveRefertothedataprovidedforMapple,Inc,inproblemsandNowassumethatMapple,Inc,issubjecttoataxHowmanyIpedsmustitselltoachieveanaftertaxincomeof$,,a,b,c,d,​ Aftertaxprofitequalsbeforetaxprofita​ multipliedbythetaxrateb​ multipliedbyminusthetaxratec​ dividedbythetaxrated​ dividedbyminusthetaxrateCHAPTER:SolutionstoQuizDemonstrationExercisesdceccTheCMperunitmustbecomputedInthiscase,itis$($,$,)tablesDividingthe$,fixedexpensesbythe$perunitCMgivessetsdEithermultiplyingtheunitBEPbytheunitsellingpriceorbydividingthefixedexpensesbytheCMratioUsingthefirstmethod,tablesmultipliedbyapriceof$pertablegives$,ofsalestobreakevenWiththesecondmethod,$,offixedexpensesdividedby($,CM$,Sales)alsoyields$,tobreakevendbbAddthebeforetaxdesiredprofittothefixedexpensesanddividetheresultbytheCMperunitInthiscase,$,,$,,=$,,($,,,cases)gives,casesdDividethesumofthetargetbeforetaxincomeandthefixedexpensesbytheCMpercentageInthiscasethatis$,,$,,$,,dividedby$,,$,,=$,,cccTheCMratiosforthetwoproductsareforAandforBWhenthesalesmixshiftstoproductswithhigherCMratios,profitsincreasebaTosolvethisproblemitisnecessarytoconverttheaftertaxincomedesiredtothebeforetaxincomenecessaryDividing$,,by(taxrate)gives$,,inbeforetaxincomerequiredAddingthistothe$,,infixedexpensesyieldsarequiredcontributionmarginof$,,Usingthedataprovidedfor,Ipeds,thesellingpriceperIpedis$andthevariableexpensesperIpedare$ThisgivesaCMperunitof$,whichcanbedividedintothe$,,totalcontributionmargintogive,Ipedsneededtoselltoget$,,aftertaxprofitb

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