管理会计英文版课后习题答案高等教育出版社chapter 16.docx

管理会计英文版课后习题答案高等教育出版社chapter 16.docx

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管理会计英文版课后习题答案高等教育出版社chapter16

管理会计（高等教育出版社）

于增彪（清华大学）改编

余绪缨（厦门大学）审校

CHAPTER16

cost-volume-profitanalysis:

amanagerialplanningtool

Questionsforwritinganddiscussion

1.CVPanalysisallowsmanagerstofocusonsellingprices,volume,costs,profits,andsalesmix.Manydifferent“whatif”questionscanbeaskedtoassesstheeffectonprofitsofchangesinkeyvariables.

2.Theunits-soldapproachdefinessalesvolumeintermsofunitsofproductandgivesanswersinthesesameterms.Thesales-revenueapproachdefinessalesvolumeintermsofrevenuesandprovidesanswersinthesesameterms.

3.Break-evenpointisthelevelofsalesactivitywheretotalrevenuesequaltotalcosts,orwherezeroprofitsareearned.

4.Atthebreak-evenpoint,allfixedcostsarecovered.Abovethebreak-evenpoint,onlyvariablecostsneedtobecovered.Thus,contributionmarginperunitisprofitperunit,providedthattheunitsellingpriceisgreaterthantheunitvariablecost（whichitmustbeforbreak-eventobeachieved）.

5.Profit=$7.005,000=$35,000

6.Variablecostratio=Variablecosts/Sales.Contributionmarginratio=Contributionmargin/Sales.Contributionmarginratio=1–Variablecostratio.

7.Break-evenrevenues=$20,000/0.40=$50,000

8.No.Theincreaseincontributionis$9,000（0.30$30,000）,andtheincreaseinadvertisingis$10,000.

9.Salesmixistherelativeproportionsoldofeachproduct.Forexample,asalesmixof3:

2meansthatthreeunitsofoneproductaresoldforeverytwoofthesecondproduct.

10.Packagesofproducts,basedontheexpectedsalesmix,aredefinedasasingleproduct.SellingpriceandcostinformationforthispackagecanthenbeusedtocarryoutCVPanalysis.

11.Packagecontributionmargin:

（2$10）+（1$5）=$25.Break-evenpoint=$30,000/$25=1,200packages,or2,400unitsofAand1,200unitsofB.

12.Profit=0.60（$200,000–$100,000）=$60,000

13.Achangeinsalesmixwillchangethecontributionmarginofthepackage（definedbythesalesmix）and,thus,willchangetheunitsneededtobreakeven.

14.Marginofsafetyisthesalesactivityinexcessofthatneededtobreakeven.Thehigherthemarginofsafety,thelowertherisk.

15.Operatingleverageistheuseoffixedcoststoextracthigherpercentagechangesinprofitsassalesactivitychanges.Itisachievedbyincreasingfixedcostswhileloweringvariablecosts.Therefore,increasedleverageimpliesincreasedrisk,andviceversa.

16.Sensitivityanalysisisa“whatif”techniquethatexaminestheimpactofchangesinunderlyingassumptionsonananswer.Acompanycaninputdataonsellingprices,variablecosts,fixedcosts,andsalesmixandsetupformulastocalculatebreak-evenpointsandexpectedprofits.Then,thedatacanbevariedasdesiredtoseewhatimpactchangeshaveontheexpectedprofit.

17.Byspecificallyincludingthecoststhatvarywithnonunitdrivers,theimpactofchangesinthenonunitdriverscanbeexamined.IntraditionalCVP,allnonunitcostsarelumpedtogetheras“fixedcosts.”Whilethecostsarefixedwithrespecttounits,theyvarywithrespecttootherdrivers.ABCanalysisremindsusoftheimportanceofthesenonunitdriversandcosts.

18.JITsimplifiesthefirm’scostequationsincemorecostsareclassifiedasfixed（e.g.,directlabor）.Additionally,thebatch-levelvariableisgone（inJIT,thebatchisoneunit）.Thus,thecostequationforJITincludesfixedcosts,unitvariablecosttimesthenumberofunitssold,andunitproduct-levelcosttimesthenumberofproductssold（orrelatedcost

driver）.JITmeansthatCVPanalysisapproachesthestandardanalysiswithfixedandunit-levelcostsonly.

Exercises

16–1

1.e

2.c

3.d

4.b

5.a

16–2

1.f

2.d

3.b

4.a

5.g

6.e

7.c

16–3

1.Units=Fixedcost/Contributionmargin

=$10,350/（$15–$12）

=3,450

2.Sales（3,450$15）$51,750

Variablecosts（3,450$12）41,400

Contributionmargin$10,350

Fixedcosts10,350

Operatingincome$0

3.Units=（Targetincome+Fixedcost）/Contributionmargin

=（$9,900+$10,350）/（$15–$12）

=$20,250/$3

=6,750

16–4

1.Contributionmarginperunit=$15–$12=$3

Contributionmarginratio=$3/$15=0.20,or20%

2.Variablecostratio=$60,000/$75,000=0.80,or80%

3.Revenue=Fixedcost/Contributionmarginratio

=$10,350/0.20

=$51,750

4.Revenue=（Targetincome+Fixedcost）/Contributionmarginratio

=（$9,900+$10,350）/0.20

=$101,250

16–5

1.0.15（$15）（Units）=$15（Units）–$12（Units）–$10,350

$2.25（Units）=$3（Units）–$10,350

$10,350=$0.75（Units）

Units=13,800

2.Sales（13,800$15）$207,000

Variablecosts（13,800$12）165,600

Contributionmargin$41,400

Fixedcosts10,350

Operatingincome$31,050

$31,050doesequal15%of$207,000,sotheanswerof13,800unitsiscorrect.

16–6

1.Before-taxincome=（After-taxincome）/（1–Taxrate）

=$6,000/（1–0.40）

=$10,000

Units=（Targetincome+Fixedcost）/Contributionmargin

=（$10,000+$10,350）/（$15–$12）

=6,783*

*Theansweris6,783.3333,andsoitmustberoundedtoawholeunit.Youmaypreferthatstudentsrounduptheanswerto6,784,instead,sinceitisbettertobemarginallyabovebreak-eventhanmarginallybelowit.

2.Before-taxincome=（After-taxincome）/（1–Taxrate）

=$6,000/（1–0.50）

=$12,000

Units=（Targetincome+Fixedcost）/Contributionmargin

=（$12,000+$10,350）/（$15–$12）

=7,450

3.Before-taxincome=（After-taxincome）/（1–Taxrate）

=$6,000/（1–0.30）

=$8,571

Units=（Targetincome+Fixedcost）/Contributionmargin

=（$8,571+$10,350）/（$15–$12）

=6,307

16–7

1.Break-evenunits=Fixedcosts/（Price–Variablecost）

=$150,000/（$2.45–$1.65）

=$150,000/$0.80

=187,500

2.Units=（$150,000+$12,600）/（$2.45–$1.65）

=$162,600/$0.80

=203,250

3.Unitvariablecost=$1.65

Unitvariablemanufacturingcost=$1.65–$0.17=$1.48

Theunitvariablecostisusedincost-volume-profitanalysis,sinceitincludesallofthevariablecostsofthefirm.

16–8

1.Before-taxincome=$25,200/（1–0.40）=$42,000

Units=（$150,000+$42,000）/$0.80

=$192,000/$0.80

=240,000

2.Before-taxincome=$25,200/（1–0.30）=$36,000

Units=（$150,000+$36,000）/$0.80

=$186,000/$0.80

=232,500

3.Before-taxincome=$25,200/（1–0.50）=$50,400

Units=（$150,000+$50,400）/$0.80

=$200,400/$0.80

=250,500

4.215,000–187,500=27,500pans

or

$526,750–$459,375=$67,375

16–9

ABCD

Sales$5,000$15,600*$16,250*$9,000

Variablecosts4,00011,7009,7505,400*

Contributionmargin$1,000$3,900$6,500*$3,600*

Fixedcosts500*4,0006,100*750

Operatingincome（loss）$500$（100）*$400$2,850

Unitssold1,000*1,30012590

Price/unit$5$12*$130$100*

Variablecost/unit$4*$9$78*$60*

Contributionmargin/unit$1*$3$52*$40*

Contributionmarginratio20%*25%*40%40%*

Break-eveninunits500*1,334*118*19*

*Designatescalculatedamount.

Note:

Whenthecalculatedbreak-eveninunitsincludesafractionalamount,ithasbeenroundeduptothenextwholeunit.

16–10

1.Variablecostratio=Variablecosts/Sales

=$399,900/$930,000

=0.43,or43%

Contributionmarginratio=（Sales–Variablecosts）/Sales

=（$930,000–$399,900）/$930,000

=0.57,or57%

2.Break-evensalesrevenue=$307,800/0.57=$540,000

3.Marginofsafety=Sales–Break-evensales

=$930,000–$540,000=$390,000

4.Contributionmarginfromincreasedsales=（$7,500）（0.57）=$4,275

Costofadvertising=$5,000

No,theadvertisingcampaignisnotagoodidea,becausethecompany’soperatingincomewilldecreaseby$725（$4,275–$5,000）.

16–11

1.Income=Revenue–Variablecost–Fixedcost

0=1,500P–$300（1,500）–$120,000

0=1,500P–$450,000–$120,000

$570,000=1,500P

P=$380

2.$160,000/（$3.50–Unitvariablecost）=128,000units

Unitvariablecost=$2.25

16–12

1.Contributionmarginperunit=$5.60–$4.20*

=$1.40

*Variablecostsperunit:

$0.70+$0.35+$1.85+$0.34+$0.76+$0.20=$4.20

Contributionmarginratio=$1.40/$5.60=0.25=25%

2.Break-eveninunits=（$32,300+$12,500）/$1.40=32,000boxes

Break-eveninsales=32,000$5.60=$179,200

or

=（$32,300+$12,500）/0.25=$179,200

3.Sales（$5.6035,000）$196,000

Variablecosts（$4.2035,000）147,000

Contributionmargin$49,000

Fixedcosts44,800

Operatingincome$4,200

4.Marginofsafety=$196,000–$179,200=$16,800

5.Break-eveninunits=44,800/（$6.20–$4.20）=22,400boxes

Newoperatingincome=$6.20（31,500）–$4.20（31,500）–$44,800

=$195,300–$132,300–$44,800=$18,200

Yes,operatingincomewillincreaseby$14,000（$18,200–$4,200）.

16–13

1.Variablecostratio=$126,000/$315,000=0.40

Contributionmarginratio=$189,000/$315,000=0.60

2.$46,0000.60=$27,600

3.Break-evenrevenue=$63,000/0.60=$105,000

Marginofsafety=$315,000–$105,000=$210,000

4.Revenue=（$63,000+$90,000）/0.60

=$255,000

5.Before-taxincome=$56,000/（1–0.30）=$80,000

Note:

Taxrate=$37,800/$126,000=0.30

Revenue=（$63,000+$80,000）/0.60=$238,333

Sales$238,333

Less:

Variableexpenses（$238,3330.40）95,333

Contributionmargin$143,000

Less:

Fixedexpenses63,000

Incomebeforeincometaxes$80,000

Incometaxes（$80,0000.30）24,000

Netincome$56,000

16–14

1.Operatingincome=Revenue（1–Variablecostratio）–Fixedcost

（0.20）Revenue=Revenue（1–0.40）–$24,000

（0.20）Revenue=（0.60）Revenue–$24,000

（0.40）Revenue=$24,000

Revenue=$60,000

Sales$60,000

Variableexpenses