ACCA考试F5业绩管理真题SectionB部分.docx

ACCA考试F5业绩管理真题SectionB部分.docx

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ACCA考试F5业绩管理真题SectionB部分

2016年6月ACCA考试F5业绩管理真题（SectionB部分）

（总分：

60.00，做题时间：

195分钟）

一、SectionB（总题数：

5，分数：

60.00）

JewelCoissettingupanonlinebusinessimportingandsellingjewelleryheadphones.Thecostofeachsetofheadphonesvariesdependingonthenumberpurchased,althoughtheycanonlybepurchasedinbatchesof1,000units.Italsohastopayimporttaxeswhichvaryaccordingtothequantitypurchased.

JewelCohasalreadycarriedoutsomemarketresearchandidentifiedthatsalesquantitiesareexpectedtovarydependingonthepricecharged.Consequently,thefollowingdatahasbeenestablishedforthefirstmonth:

Required:

（分数：

10）

（1）.（a）CalculatehowmanybatchesJewelCoshouldimportandsell.

（分数：

6）

__________________________________________________________________________________________

正确答案：

（

ThereforeJewelCoshouldimportandsellfourbatches（4,000units）ofheadphonessinceatthispointitwillmakethegreatestprofit:

$14,400forthemonth.

）

解析：

（2）.（b）ExplainwhyJewelCocouldnotusethealgebraicmethodtoestablishtheoptimumpriceforitsproduct.

（分数：

4）

__________________________________________________________________________________________

正确答案：

（

Thealgebraicmodelrequiresseveralassumptionstobetrue.First,theremustbeaconsistentrelationshipbetweenprice（P）anddemand（Q）,sothatademandequationcanbeestablished,usuallyintheformP=a–bQ.Here,althoughthereisaclearrelationshipbetweenthetwo,itisnotaperfectlylinearrelationshipandsomorecomplicatedtechniquesarerequiredtocalculatethedemandequation.ItalsocannotbeassumedthatalinearrelationshipwillholdforallvaluesofPandQotherthanthefivegiven.

Similarly,theremustbeaclearrelationshipbetweendemandandmarginalcost,usuallysatisfiedbyconstantvariablecostperunitandconstantfixedcosts.Thechangingvariablecostsperunitagaincomplicatetheissue,butitisthechangesinfixedcostswhichmakethealgebraicmethodlessusefulinJewel'scase.

Thealgebraicmodelisonlysuitableforcompaniesoperatinginamonopolyanditisnotclearherewhetherthisisthecase,butitseemsunlikely,soany‘optimum’pricemightbecomeirrelevantifJewel'scompetitorschargesignificantlylowerprices.

Othermoregeneralfactorsnotconsideredbythealgebraicmodelarepoliticalfactorswhichmightaffectimports,socialfactorswhichmayaffectcustomertastesandeconomicfactorswhichmayaffectexchangeratesorcustomerspendingpower.Thereliabilityoftheestimatesthemselves–forsalesprices,variablecostsandfixedcosts–couldalsobecalledintoquestion.

）

解析：

SwimCoofferstrainingcoursestoathletesandhaspreparedthefollowingbreakevenchart:

Required:

（分数：

10）

（1）.（a）StatethebreakevensalesrevenueforSwimCoandestimate,tothenearest$10,000,thecompany'sprofitif500athletesattendatrainingcourse.

（分数：

2）

__________________________________________________________________________________________

正确答案：

（

ThebreakevensalesrevenueforSwimCois$90,000.Thecompany'sprofit,tothenearest$10,000,if500athletesattendthecourseis$20,000（$140,000–$120,000）.（Fromthegraph,itisclearthatthepreciseamountwillbenearer$17,000,i.e.$140,000–approximately$123,000.）

）

解析：

（2）.（b）Usingthechartabove,explainthecostandrevenuestructureofthecompany.

（分数：

8）

__________________________________________________________________________________________

正确答案：

（

Coststructure

Fromthechart,itisclearthatLineCrepresentsfixedcosts,LineBrepresentstotalcostsandLineArepresentstotalrevenue.

LineCshowsthatinitially,fixedcostsare$20,000evenifnoathletesattendthecourse.Thisleveloffixedcostsremainsthesameif100athletesattendbutoncethenumberofattendeesincreasesabovethislevel,fixedcostsincreaseto$40,000.

LineBrepresentstotalcosts.If100athletesattend,totalcostsare$40,000（$400perathlete）.Since$20,000ofthisrelatestofixedcosts,thevariablecostperathletemustbe$200.Whenfixedcostsstepupbeyondthispointatthelevelof200athletes,totalcostsobviouslyincreaseaswellandLineBconsequentlygetsmuchsteeper.However,sincetherearenow200athletestoabsorbthefixedcosts,thecostperathleteremainsthesameat$400perathlete（$80,000/200）,eventhoughfixedcostshavedoubled.

If300athletesattendthecourse,totalcostperathletebecomes$300each（$90,000/300）.Sincefixedcostsaccountfor$40,000ofthistotalcost,variablecoststotal$50,000,i.e.$166·67perathlete.So,economiesofscaleariseatthislevel,asdemonstratedbythefactthatLineBbecomesflatter.

At400athletes,thegradientofthetotalcostslineisunchangedfrom300athleteswhichindicatesthatthevariablecostshaveremainedthesame.Thereisnofurtherchangeat500athletes;fixedandvariablecostsremainsteady.

Revenuestructure

Asregardstherevenuestructure,itcanbeseenfromLineAthatfor100–400athletesthepriceremainsthesameat$300perathlete.However,if500athletesattend,thepricehasbeenreducedasthetotalrevenuelinebecomesflatter.$140,000/500meansthatthepricehasgonedownto$280perathlete.Thiswasobviouslynecessarytoincreasethenumberofattendeesandatthispoint,profitismaximised.

）

解析：

1.ShoeCo,ashoemanufacturer,hasdevelopedanewproductcalledthe‘SmartShoe’forchildren,whichhasabuilt-intrackingdevice.Theshoesareexpectedtohavealifecycleoftwoyears,atwhichpointShoeCohopestointroduceanewtypeofSmartShoewithevenmoreadvancedtechnology.ShoeCoplanstouselifecyclecostingtoworkoutthetotalproductioncostoftheSmartShoeandthetotalestimatedprofitforthetwo-yearperiod.

ShoeCohasspent$5·6mdevelopingtheSmartShoe.Thetimespentonthisdevelopmentmeantthatthecompanymissedoutontheopportunityofearninganestimated$800,000contributionfromthesaleofanotherproduct.

Thecompanyhasappliedforandbeengrantedaten-yearpatentforthetechnology,althoughitmustberenewedeachyearatacostof$200,000.Thecostsofthepatentapplicationwere$500,000,whichincluded$20,000forthesalarycostsofShoeCo'slawyer,whoisapermanentemployeeofthecompanyandwasresponsibleforpreparingtheapplication.

Thefollowinginformationisalsoavailableforthenexttwoyears:

Note:

Aunitisapairofshoes

Othercostsareexpectedtobeasfollows:

ShoeCoisstillnegotiatingwithmarketingcompanieswithregardtoitsadvertisingcampaign,soisuncertainastowhatthetotalmarketingcostswillbeeachyear.However,thefollowinginformationisavailableasregardstheprobabilitiesoftherangeofcostswhicharelikelytobeincurred:

Required:

Applyingtheprinciplesoflifecyclecosting,calculatethetotalexpectedprofitforShoeCoforthetwo-yearperiod.

（分数：

10.00）

__________________________________________________________________________________________

正确答案：

（

Totalsalesrevenue=（280,000×$55）+（420,000×$45）=$15·4m+18·9m=$34·3m.

Expectedprofit=$2·03m

Note

Theexpectedprofithasbeencalculatedusinglifecyclecostingnotrelevantcosting.Hence,the$20,000salarycostincludedinpatentcostsshouldbeincludedinthelifecyclecost.Similarly,theopportunitycostof$800,000isnotincludedusinglifecyclecostingwhereasifrelevantcostingwasbeingusedtodecideonaparticularcourseofaction,theopportunitycostwouldbeincluded.

Working1

Expectedmarketingcostinyear1:

（0·2×$2·2m）+（0·5×$2·6m）+（0·3×$2·9m）=$2·61m.

Expectedmarketingcostyear2:

（0·3×$1·8m）+（0·4×$2·1m）+（0·3×$2·3m）=$2·07m.

Totalexpectedmarketingcost=$4·68m.

）

解析：

Amanufacturingcompany,ManCo,hastwodivisions:

DivisionLandDivisionM.Bothdivisionsmakeasinglestandardisedproduct.DivisionLmakescomponentL,whichissuppliedtobothDivisionMandexternalcustomers.DivisionMmakesproductMusingoneunitofcomponentLandothermaterials.ItthensellsthecompletedproductMtoexternalcustomers.Todate,DivisionMhasalwaysboughtcomponentLfromDivisionL.

Thefollowinginformationisavailable:

DivisionLchargesthesamepriceforcomponentLtobothDivisionMandexternalcustomers.However,itdoesnotincurthesellinganddistributioncostswhentransferringinternally.

DivisionMhasjustbeenapproachedbyanewsupplierwhohasofferedtosupplyitwithcomponentLfor$37perunit.Priortothisoffer,thecheapestpricewhichDivisionMcouldhaveboughtcomponentLforfromoutsidethegroupwas$42perunit.

Itisheadofficepolicytoletthedivisionsoperateautonomouslywithoutinterferenceatall.

Required:

（分数：

15）

（1）.（a）Calculatetheincrementalprofit/（loss）percomponentforthegroupifDivisionMacceptsthenewsupplier'sofferandrecommendhowmanycomponentsDivisionLshouldselltoDivisionMifgroupprofitsaretobemaximised.

（分数：

3）

__________________________________________________________________________________________

正确答案：

（

Maximisinggroupprofit

DivisionLhasenoughcapacitytosupplybothDivisionManditsexternalcustomerswithcomponentL.

Therefore,incrementalcostofDivisionMbuyingexternallyisasfollows:

CostperunitofcomponentLwhenboughtfromexternalsupplier:

$37

CostperunitforDivisionLofmakingcomponentL:

$20.

ThereforeincrementalcosttogroupofeachunitofcomponentLbeingboughtinbyDivisionMratherthantransferredinternally:

$17（$37–20）.

Fromthegroup'spointofview,themostprofitablecourseofactionisthereforethatall120,000unitsofcomponentLshouldbetransferredinternally.

）

解析：

（2）