加里森第十四版管理会计课后题答案CH08.docx
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加里森第十四版管理会计课后题答案CH08
Chapter8
ProfitPlanning
SolutionstoQuestions
8-1Abudgetisadetailedquantitativeplanfortheacquisitionanduseoffinancialandotherresourcesoveragiventimeperiod.Budgetarycontrolinvolvesusingbudgetstoincreasethelikelihoodthatallpartsofanorganizationareworkingtogethertoachievethegoalssetdownintheplanningstage.
8-2
1.Budgetscommunicatemanagement’splansthroughouttheorganization.
2.Budgetsforcemanagerstothinkaboutandplanforthefuture.Intheabsenceofthenecessitytoprepareabudget,manymanagerswouldspendalloftheirtimedealingwithday-to-dayemergencies.
3.Thebudgetingprocessprovidesameansofallocatingresourcestothosepartsoftheorganizationwheretheycanbeusedmosteffectively.
4.Thebudgetingprocesscanuncoverpotentialbottlenecksbeforetheyoccur.
5.Budgetscoordinatetheactivitiesoftheentireorganizationbyintegratingtheplansofitsvariousparts.Budgetinghelpstoensurethateveryoneintheorganizationispullinginthesamedirection.
6.Budgetsdefinegoalsandobjectivesthatcanserveasbenchmarksforevaluatingsubsequentperformance.
8-3Responsibilityaccountingisasysteminwhichamanagerisheldresponsibleforthoseitemsofrevenuesandcosts—andonlythoseitems—thatthemanagercancontroltoasignificantextent.Eachlineiteminthebudgetismadetheresponsibilityofamanagerwhoisthenheldresponsiblefordifferencesbetweenbudgetedandactualresults.
8-4Amasterbudgetrepresentsasummaryofallofmanagement’splansandgoalsforthefuture,andoutlinesthewayinwhichtheseplansaretobeaccomplished.Themasterbudgetiscomposedofanumberofsmaller,specificbudgetsencompassingsales,production,rawmaterials,directlabor,manufacturingoverhead,sellingandadministrativeexpenses,andinventories.Themasterbudgetusuallyalsocontainsabudgetedincomestatement,budgetedbalancesheet,andcashbudget.
8-5Thelevelofsalesimpactsvirtuallyeveryotheraspectofthefirm’sactivities.Itdeterminestheproductionbudget,cashcollections,cashdisbursements,andsellingandadministrativebudgetthatinturndeterminethecashbudgetandbudgetedincomestatementandbalancesheet.
8-6No.Planningandcontrolaredifferent,althoughrelated,concepts.Planninginvolvesdevelopinggoalsanddevelopingbudgetstoachievethosegoals.Control,bycontrast,involvesthemeansbywhichmanagementattemptstoensurethatthegoalssetdownattheplanningstageareattained.
8-7Theflowofbudgetinginformationmovesintwodirections—upwardanddownward.Theinitialflowshouldbefromthebottomoftheorganizationupward.Eachpersonhavingresponsibilityoverrevenuesorcostsshouldpreparethebudgetdataagainstwhichhisorhersubsequentperformancewillbemeasured.Asthebudgetdataarecommunicatedupward,higher-levelmanagersshouldreviewthebudgetsforconsistencywiththeoverallgoalsoftheorganizationandtheplansofotherunitsintheorganization.Anyissuesshouldberesolvedindiscussionsbetweentheindividualswhopreparedthebudgetsandtheirmanagers.
Alllevelsofanorganizationshouldparticipateinthebudgetingprocess—notjusttopmanagementortheaccountingdepartment.Generally,thelowerlevelswillbemorefamiliarwithdetailed,day-to-dayoperatingdata,andforthisreasonwillhaveprimaryresponsibilityfordevelopingthespecificsinthebudget.Toplevelsofmanagementshouldhaveabetterperspectiveconcerningthecompany’sstrategy.
8-8Aself-imposedbudgetisoneinwhichpersonswithresponsibilityovercostcontrolpreparetheirownbudgets.Thisisincontrasttoabudgetthatisimposedfromabove.Themajoradvantagesofaself-imposedbudgetare:
（1）Individualsatalllevelsoftheorganizationarerecognizedasmembersoftheteamwhoseviewsandjudgmentsarevalued.
（2）Budgetestimatespreparedbyfront-linemanagersareoftenmoreaccurateandreliablethanestimatespreparedbytopmanagerswhohavelessintimateknowledgeofmarketsandday-to-dayoperations.（3）Motivationisgenerallyhigherwhenindividualsparticipateinsettingtheirowngoalsthanwhenthegoalsareimposedfromabove.Self-imposedbudgetscreatecommitment.（4）Amanagerwhoisnotabletomeetabudgetthathasbeenimposedfromabovecanalwayssaythatthebudgetwasunrealisticandimpossibletomeet.Withaself-imposedbudget,thisexcuseisnotavailable.
Self-imposedbudgetsdocarrywiththemtheriskofbudgetaryslack.Thebudgetspreparedbylower-levelmanagersshouldbecarefullyreviewedtopreventtoomuchslack.
8-9Thedirectlaborbudgetandotherbudgetscanbeusedtoforecastworkforcestaffingneeds.Carefulplanningcanhelpacompanyavoiderratichiringandlayingoffofemployees.
8-10TheprincipalpurposeofthecashbudgetisNOTtoseehowmuchcashthecompanywillhaveinthebankattheendoftheyear.Althoughthisisoneofthepurposesofthecashbudget,theprincipalpurposeistoprovideinformationonprobablecashneedsduringthebudgetperiod,sothatbankloansandothersourcesoffinancingcanbeanticipatedandarrangedwellinadvance.
Exercise8-1（20minutes）
1.
July
August
September
Total
Maysales:
$430,000×10%
$43,000
$ 43,000
Junesales:
$540,000×70%,10%
378,000
$54,000
432,000
Julysales:
$600,000×20%,70%,10%
120,000
420,000
$60,000
600,000
Augustsales:
$900,000×20%,70%
180,000
630,000
810,000
Septembersales:
$500,000×20%
100,000
100,000
Totalcashcollections
$541,000
$654,000
$790,000
$1,985,000
NoticethateventhoughsalespeakinAugust,cashcollectionspeakinSeptember.Thisoccursbecausethebulkofthecompany’scustomerspayinthemonthfollowingsale.Thelagincollectionsthatthiscreatesisevenmorepronouncedinsomecompanies.Indeed,itisnotunusualforacompanytohavetheleastcashavailableinthemonthswhensalesaregreatest.
2.AccountsreceivableatSeptember30:
FromAugustsales:
$900,000×10%
$90,000
FromSeptembersales:
$500,000×（70%+10%）
400,000
Totalaccountsreceivable
$490,000
Exercise8-2（10minutes）
July
August
Sept.
Quarter
Budgetedsalesinunits
30,000
45,000
60,000
135,000
Adddesiredendinginventory*
4,500
6,000
5,000
5,000
Totalneeds
34,500
51,000
65,000
140,000
Lessbeginninginventory
3,000
4,500
6,000
3,000
Requiredproduction
31,500
46,500
59,000
137,000
*10%ofthefollowingmonth’ssales
Exercise8-3（15minutes）
Quarter—Year2
Year3
First
Second
Third
Fourth
First
Requiredproductionofcalculators
60,000
90,000
150,000
100,000
80,000
Numberofchipspercalculator
×3
×3
×3
×3
×3
Totalproductionneeds—chips
180,000
270,000
450,000
300,000
240,000
Year2
First
Second
Third
Fourth
Year
Productionneeds—chips
180,000
270,000
450,000
300,000
1,200,000
Adddesiredendinginventory—chips
54,000
90,000
60,000
48,000
48,000
Totalneeds—chips
234,000
360,000
510,000
348,000
1,248,000
Lessbeginninginventory—chips
36,000
54,000
90,000
60,000
36,000
Requiredpurchases—chips
198,000
306,000
420,000
288,000
1,212,000
Costofpurchasesat$2perchip
$396,000
$612,000
$840,000
$576,000
$2,424,000
Exercise8-4（20minutes）
1.Assumingthatthedirectlaborworkforceisadjustedeachquarter,thedirectlaborbudgetwouldbe:
1st
Quarter
2nd
Quarter
3rd
Quarter
4th
Quarter
Year
Unitstobeproduced
5,000
4,400
4,500
4,900
18,800
Directlabortimeperunit（hours）
×0.40
×0.40
×0.40
×0.40
×0.40
Totaldirectlaborhoursneeded
2,000
1,760
1,800
1,960
7,520
Directlaborcostperhour
×$11.00
×$11.00
×$11.00
×$11.00
×$11.00
Totaldirectlaborcost
$22,000
$19,360
$19,800
$21,560
$82,720
2.Assumingthatthedirectlaborworkforceisnotadjustedeachquarterandthatovertimewagesarepaid,thedirectlaborbudgetwouldbe:
1st
Quarter
2nd
Quarter
3rd
Quarter
4th
Quarter
Year
Unitstobeproduced
5,000
4,400
4,500
4,900
18,800
Directlabortimeperunit（hours）
×0.40
×0.40
×0.40
×0.40
×0.40
Totaldirectlaborhoursneeded
2,000
1,760
1,800
1,960
7,520
Regularhourspaid
1,800
1,800
1,800
1,800
7,200
Overtimehourspaid
200
0
0
160
360
Wagesforregularhours
（@$11.00perhour）
$19,800
$19,800
$19,800
$19,800
$79,200
Overtimewages（@$11.00perhour×1.5hours）
3,300
0
0
2,640
5,940
Totaldirectlaborcost
$23,100
$19,800
$19,800
$22,440
$85,140
Exercise8-5（15minutes）
1.
KrispinCorporation
ManufacturingOverheadBudget
1st
Quarter
2nd
Quarter
3rd
Quarter
4th
Quarter
Year
Budgeteddirectlabor-hours
5,000
4,800
5,200
5,400
20,400
Variableoverheadrate
× $1.75
× $1.75
× $1.75
× $1.75
× $1.75
Variablemanufacturingoverhead
$ 8,750
$ 8,400
$ 9,100
$ 9,450
$ 35,700
Fixedmanufacturingoverhead
35,000
35,000
35,000
35,000
140,000
Totalmanufacturingoverhead
43,750
43,400
44,100
44,450
175,700
Lessdepreciation
15,000
15,000
15,000
15,000
60,000
Cashdisbursementsformanufacturingoverhead
$28,750
$28,400
$29,100
$29,450
$115,700
2.
Totalbudgetedmanufacturingoverheadfortheyear（a）
$175,700
Totalbudgeteddirec
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