成本會(huì)計(jì)：管理的著重點(diǎn) 第十版 書后習(xí)題答案第三章

3-1 CHAPTER 3 COST-VOLUME-PROFIT ANALYSIS 3-1Cost-volume-profit (CVP) analysis examines the behavior of total revenues, total costs, and operating income as changes occur in the output level, selling price, variable costs per unit, or fixed costs. 3-2The assumptions underlying the CVP analysis outlined in Chapter 3 are: 1.Changes in the level of revenues and costs arise only because of changes in the number of product (or service) units produced and sold. 2.Total costs can be divided into a fixed component and a component that is variable with respect to the level of output. 3.When graphed, the behavior of total revenues and total costs is linear (straight-line) in relation to output units within the relevant range. 4.The unit selling price, unit variable costs, and fixed costs are known and constant. 5.The analysis either covers a single product or assumes that the sales mix, when multiple products are sold, will remain constant as the level of total units sold changes. 6.All revenues and costs can be added and compared without taking into account the time value of money. 3-3Operating income is total revenues from operations for the accounting period minus total costs from operations (excluding income taxes): Operating income = Total revenues Total costs Net income is operating income plus nonoperating revenues (such as interest revenue) minus nonoperating costs (such as interest cost) minus income taxes. Chapter 3 assumes nonoperating revenues and nonoperating costs are zero. Thus, Chapter 3 computes net income as: Net income = Operating income Income taxes 3-4Contribution margin is computed as the difference between total revenues and total variable costs. Contribution margin per unit is the difference between selling price and variable cost per unit. Contribution-margin percentage is the contribution margin per unit divided by selling price. 3-5Three methods to calculate the breakeven point are the equation method, the contribution margin method, and the graph method. 3-6Breakeven analysis denotes the study of the breakeven point, which is often only an incidental part of the relationship between cost, volume, and profit. Cost-volume-profit relationship is a more comprehensive term than breakeven analysis. 3-2 3-7CVP certainly is simple, with its assumption of output as the only revenue and cost driver, and linear revenue and cost relationships. Whether these assumptions make it simplistic depends on the decision context. In some cases, these assumptions may be sufficiently accurate for CVP to provide useful insights. The examples in Chapter 3 (the software package context in the text and the travel agency example in the Problem for Self-Study) illustrate how CVP can provide such insights. In more complex cases, the basic ideas of simple CVP analysis can be expanded. 3-8An increase in the income tax rate does not affect the breakeven point. Operating income at the breakeven point is zero, and thus no income taxes will be paid at this point. 3-9Sensitivity analysis is a what-if technique that examines how a result will change if the original predicted data are not achieved or if an underlying assumption changes. The advent of spreadsheet software has greatly increased the ability to explore the effect of alternative assumptions at minimal cost. CVP is one of the most widely used software applications in the management accounting area. 3-10Examples include: Manufacturingsubstituting a robotic machine for hourly wage workers. Marketingchanging a sales force compensation plan from a percent of sales dollars to a fixed salary. Customer servicehiring a subcontractor to do customer repair visits on an annual retainer basis rather than a per-visit basis. 3-11Examples include: Manufacturingsubcontracting a component to a supplier on a per-unit basis to avoid purchasing a machine with a high fixed depreciation cost. Marketingchanging a sales compensation plan from a fixed salary to percent of sales dollars basis. Customer servicehiring a subcontractor to do customer service on a per-visit basis rather than an annual retainer basis. 3-12Operating leverage describes the effects that fixed costs have on changes in operating income as changes occur in units sold and hence in contribution margin. Knowing the degree of operating leverage at a given level of sales helps managers calculate the effect of fluctuations in sales on operating incomes. 3-13CVP analysis is always conducted for a specified time horizon. One extreme is a very short-time horizon. For example, some vacation cruises offer deep price discounts for people who offer to take any cruise on a days notice. One day prior to a cruise, most costs are fixed. The other extreme is several years. Here, a much higher percentage of total costs typically is variable. CVP itself is not made any less relevant when the time horizon lengthens. What happens is that many items classified as fixed in the short run may become variable costs with a longer time horizon. 3-14A company with multiple products can compute a breakeven point by assuming there is a constant mix of products at different levels of total revenue. 3-3 3-15Yes, gross margin calculations emphasize the distinction between manufacturing and nonmanufacturing costs (gross margins are calculated after subtracting fixed manufacturing costs). Contribution margin calculations emphasize the distinction between fixed and variable costs. Hence, contribution margin is a more useful concept than gross margin in CVP analysis. 3-16(10 min.) CVP computations. VariableFixedTotalOperatingContributionContribution RevenuesCostsCostsCostsIncomeMarginMargin % a.$2,000$ 500$300$ 800$1,200$1,50075.0% b.2,0001,5003001,80020050025.0% c.1,0007003001,000030030.0% d.1,5009003001,20030060040.0% 3-17(1020 min.) CVP computations. a.TCM=Q (USP UVC) =70,000 ($30 $20) =$700,000 TFC= TCM OI =$700,000 ( $15,000) = $715,000 b.TCM=Q (USP UVC) $900,000=180,000 ($25 UVC) UVC=$20 OI=TCM TFC =$900,000 $800,000 = $100,000 c.TCM=Q (USP UVC) $300,000=150,000 (USP $10) USP=$12 OI=TCM TFC =$300,000 $220,000 = $80,000 d.Q=TCM (USP UVC) =$120,000 ($20 $14) =20,000 TFC=TCM OI =$120,000 $12,000 = $108,000 3-4 3-18(1520 min.) CVP analysis, changing revenues and costs. 1.USP=8% $1,000 = $80 UVC=$35 ($17 + $18) UCM=$45 FC=$22,000 a month a.Q= UCM FC 45$ 000,22$ =489 tickets (rounded up) b.Q= FC + TOI UCM $22 000 + $10 = $32 000 =712 tickets (rounded up) 2.USP=$80 UVC=$29 ($17 + $12) UCM=$51 FC=$22,000 a month a.Q= FC UCM $22 000 =432 tickets (rounded up) b.Q= FC + TOI UCM $22 000 + $10 = $32 000 =628 tickets (rounded up) 3-5 3-19 (20 min.) CVP, changing revenues and costs. (Continuation of 3-18) 1.Sunshine charges $1,000 per round-trip ticket. Hence, each ticket will yield only a $48 commission. USP=$48 UVC=$29 ($17 + $12) UCM =$19 FC=$22,000 a.Q= FC UCM $22 000 =1,158 tickets (rounded up) b.Q= FC + TOI UCM $22 000 + $10 = $32 000 =1,685 tickets (rounded up) The reduced commission sizably increases the breakeven point and the number of tickets required to yield a target operating income of $10,000: 8% Old Commission (3-18 Requirement 2) Upper Limit on Commission of $48 Breakeven point Attain OI of $10,000 432 628 1,158 1,685 2.The $5 delivery fee can be treated as either an extra source of revenue (as done below) or as a cost offset. Either approach increases UCM by $5: USP=$53 ($48 + $5) UVC=$29 ($17 + $12) UCM =$24 FC=$22,000 a.Q= FC UCM $22 000 =917 tickets (rounded up) b.Q= FC + TOI UCM $22 000 + $10 =1,334 tickets (rounded up) The $5 delivery fee results in a higher contribution margin which reduces both the breakeven point and the tickets sold to attain operating income of $10,000. 3-6 3-20(20 min.) CVP exercises. Revenues Variable Costs Contribution Margin Fixed Costs Budgeted Operating Income Orig.$10,000,000G$8,200,000G$1,800,000$1,700,000G$100,000 1.10,000,0008,020,0001,980,0001,700,000280,000 2.10,000,0008,380,0001,620,0001,700,000(80,000) 3.10,000,0008,200,0001,800,0001,785,00015,000 4.10,000,0008,200,0001,800,0001,615,000185,000 5.10,800,0008,856,0001,944,0001,700,000244,000 6.9,200,0007,544,0001,656,0001,700,000(44,000) 7.11,000,0009,020,0001,980,0001,870,000110,000 8.10,000,0007,790,0002,210,0001,785,000425,000 Gstands for given. 3-21(20 min.) CVP exercises. 1.a.5,000,000 ($0.50 $0.30) $900,000=$ 100,000 b. $900,000 $0.50 $0.30 $0.50 =$2,250,000 2.5,000,000 ($0.50 $0.34) $900,000=$ (100,000) 3.5,000,000 (1.1) ($0.50 $0.30) $900,000 (1.1)=$ 110,000 4.5,000,000 (1.4) ($0.40 $0.27) $900,000 (0.8)=$ 190,000 5.$900,000( 1.1) ($0.50 $0.30)=4,950,000 units 6.($900,000 + $20,000) ($0.55 $0.30)=3,680,000 units 3-22(1015 min.) CVP analysis, income taxes. 1.Operating income= Net income (1 tax rate) = $84,000 (1 0.40)= $140,000 2.Contribution margin Fixed costs = Operating income Contribution margin $300,000 = $140,000 Contribution margin = $440,000 3.Revenues 0.80 Revenues = Contribution margin 0.20 Revenues = $440,000 Revenues = $2,200,000 4.Breakeven point = Fixed costs Contribution margin percentage Breakeven point = $300,000 0.20 = $1,500,000 3-7 3-23(2025 min.) CVP analysis, income taxes. 1.Variable cost percentage is $3.20 $8.00 = 40% Let R = Revenues needed to obtain target net income R 0.40R $450,000 = $105000 1 0.30 0.60R = $450,000 + $150,000 R = $600,000 0.60 R = $1,000,000 Proof:Revenues$1,000,000 Variable costs (at 40%) 400,000 Contribution margin600,000 Fixed costs 450,000 Operating income 150,000 Income taxes (at 30%) 45,000 Net income$ 105,000 2.a. Sales checks to earn net income of $105,000: $1,000,000 $8 = 125,000 sales checks b. Sales checks to break even: Contribution margin = $8.00 $3.20 = $4.80 $450,000 $4.80 = 93,750 sales checks 3.Using the shortcut approach: Change in net income = (1 Tax rate) (Change in units ) ( Unit contribution margin ) =(150,000 125,000) $4.80 (1 .30) =$120,000 0.7 = $84,000 New net income=$84,000 + $105,000 = $189,000 Proof:Revenues, 150,000 $8.00$1,200,000 Variable costs at 40% 480,000 Contribution margin 720,000 Fixed costs 450,000 Operating income 270,000 Income tax at 30% 81,000 Net income$ 189,000 3-8 3-24(10 min.) CVP analysis, margin of safety. 1.Breakeven point revenues= Fixed costs Contribution margin percentage Contribution margin percentage=0.40 $400 000 2.Contribution margin percentage= Selling price Variable cost per unit Selling price 0.40= USP $12 USP 0.40 USP=USP $12 0.60 USP=$12 USP=$20 3.Revenues, 80,000 units $20$1,600,000 Breakeven revenues 1,000,000 Margin of safety$ 600,000 3-25 (25 min.) Operating leverage. 1.Let Q denote the quantity of carpets sold a.Breakeven point under Option 1 $500Q $350Q =$5,000 $150Q=$5,000 Q=$5,000 $150 = 34 carpets (rounded) b.Breakeven point under option 2 $500Q $350Q (0.10 $500Q) = 0 100Q=0 Q=0 2.Operating income under Option 1 = $150Q $5,000 Operating income under Option 2 = $100Q Find Q such that $150Q $5,000 = $100Q $50Q= $5,000 Q= $5,000 $50 = 100 carpets For Q = 100 carpets, operating income under both Option 1 and Option 2 = $10,000 3a.For Q 100, say, 101 carpets, Option 1 gives operating income =$150 101 $5,000 =$10,150 Option 2 gives operating income=$100 101=$10,100 So Color Rugs will prefer Option 1. 3b.For Q 100, say, 99 carpets, Option 1 gives operating income =$150 99 $5,000=$9,850 Option 2 gives operating income=$100 99=$9,900 3-9 So Color Rugs will prefer Option 2. 3-25 (Contd.) 4.Degree of operating leverage= income Operating marginon Contributi Under option 1, Degree of operating leverage =1.5 $10,000 100 $150 Under option 2, Degree of operating leverage =1.0 $10,000 100 $100 5.The calculations in requirement 4 indicate that when sales are 100 units, a percentage change in sales and contribution margin will result in 1.5 times that percentage change in operating income for option 1, but the same percentage change in operating income for option 2. The degree of operating leverage at a given level of sales helps managers calculate the effect of fluctuations in sales on operating incomes. 3-26(30 min.) CVP analysis, sensitivity analysis. 1.USP=$30.00 (1 0.30 margin to bookstore) =$30.00 0.70 = $21.00 UVC= $ 4.00variable production and marketing cost 3.15variable author royalty cost (0.15 $30.00 0.70) $ 7.15 UCM=$21.00 $7.15 = $13.85 FC=$ 500,000fixed production and marketing cost 3,000,000up-front payment to Washington $3,500,000 3-10 3-26 (Contd.) Exhibit 3-26A shows the PV graph. EXHIBIT 3-26A PV Graph for Media Publishers 2.a.= Breakeven number of units FC UCM = $3 500 =252,708 copies sold (rounded up) b.Target OI= FC + OI UCM = $3 500 = $5 500 =397,112 copies sold (rounded up) 100,000200,000 300,000 400,000500,000 0 Units sold Operating income (000s) (0; $3.5 million) 252,708; $0 FC = $3,500,000 UCM = $13.85 per book sold $4,000 3,000 2,000 1,000 -1,000 -2,000 -3,000 -4,000 3-11 3-26 (Contd.) 3.a.Decreasing the normal bookstore margin to 20% of the listed bookstore price of $30 has the following effects: USP=$30.00 (1 0.20) =$30.00 0.80 = $24.00 UVC=$ 4.00variable production and marketing cost + 3.60variable author royalty cost (0.15 $30.00 0.80) $ 7.60 UCM=$24.00 $7.60 = $16.40 = Breakeven number of units FC UCM = $3 500 =213,415 copies sold (rounded) The breakeven point decreases from 252,708 copies in requirement 2 to 213,415 copies. b.Increasing the listed bookstore price to $40 while keeping the bookstore margin at 30% has the following effects: USP=$40.00 (1 0.30) =$40.00 0.70 = $28.00 UVC=$ 4.00variable production and marketing cost + 4.20variable author royalty cost (0.15 $40.00 0.70) $ 8.20 UCM=$28.00 $8.20 = $19.80 = Breakeven number of units $3 500 =176,768 copies sold (rounded) The breakeven point decreases from 252,708 copies in requirement 2 to 176,768 copies. c.The answer to requirements 3a and 3b decreases the breakeven point relative to requirement 2 because in each case fixed costs remain the same at $3,500,000 while contribution margin per unit increases. 3-12 3-27(10 min.) CVP analysis, international cost structure differences. 1. Annual Fixed Costs (1) Selling Price (2) Variable Manuf. Costs per Sweater (3) Variable Mark/Dist Costs per Sweater (4) Unit Contrib. Margin (5)= (2) (3) (4) Breakeven Point in Units (6) = (1) (5) Singapore$ 6,500,000$32$ 8.00$11.00$13500,000 Thailand4,500,000325.5011.5015300,000 U.S.12,000,0003213.009.00101,200,000 2. Revenues $32 800,000 Variable Costs Fixed Costs Operating Income Singapore$25,600,000$15,200,0001$6,500,000$3,900,000 Thailand25,600,00013,600,00024,500,0007,500,000 U.S.25,600,00017,600,000312,000,0004,000,000 1($8 + $11) 800,0002($5.50 + $11.50) 800,0003($13 + $9) 800,000 Thailand has the lowest breakeven pointit has both the lowest fixed costs ($4,500,000) and the lowest variable cost per unit ($17.00). Hence, for a given selling price, Thailand will always have a higher operating income (or a lower operating loss) than Singapore or the U.S. The U.S. breakeven point is 1,200,000 units. Hence, with sales of 800,000 units, it has an operating loss of $4,000,000. (a) Breakeven point in units sold (b) Breakeven point in revenues (Col. (a) $32 Singapore500,000$16,000,000 Thailand300,0009,600,000 U.S.1,200,00038,400,000 3-13 3-28(30 min.) Sales mix, new and upgrade customers. 1.New CustomersUpgrade Customers USP UVC UCM $210 90 120 $120 40 80 Let S =Number of upgrade customers 1.5S =Number of new customers Revenues Variable costs Fixed costs = Operating income $210 (1.5S) + $120S $90 (1.5S) + $40S $14,000,000 = OI $435S $175S $14,000,000 = OI Breakeven point is 134,616 units when OI = 0 $260S =$14,000,000 S =53,846 1.5S = 80,770 134,616 Check Revenues ($210 80,770; $120 53,846)$23,423,220 Variable costs ($90 80,770; $40 53,846) 9,423,140 Contribution margin14,000,080 Fixed costs 14,000,000 Operating income (subject to rounding)$ 0 2.When 200,000 units are sold, mix is: New customers (60% 200,000)120,000 Upgrade customers (40% 200,000)80,000 Revenues ($210 120,000; $120 80,000)$34,800,000 Variable costs ($90 120,000; $40 80,000) 14,000,000 Contribution margin20,800,000 Fixed costs 14,000,000 Operating income $ 6,800,000 3a.Let S = Number of upgrade customers then S =Number of new customers $210S + $120S $90S + $40S $14,000,000 = OI 330S 130S=$14,000,000 200S=$14,000,000 S=70,000 S= 70,000 140,000 units 3-14 3-28 (Contd.) Check Revenues ($210 70,000; $120 70,000)$23,100,000 Variable costs ($90 70,000; $40 70,000) 9,100,000 Contribution margin14,000,000 Fixed costs 14,000,000 Operating income$ 0 3b.Let S = Number of upgrade customers then9S = Number of new customers $210 (9S ) + $120S $90 (9S ) + $40S $14,000,000 = OI 2,010S 850S=$14,000,000 1,160S=$14,000,000 S=12,069 9S=108,621 120,690 units Check Revenues ($210 108,621; $120 12,069)$24,258,690 Variable costs ($90 108,621; $40 12,069) 10,258,650 Contribution margin14,000,040 Fixed costs 4,000,000 Operating income (subject to rounding)$ 0 3c.As Zapo increases its percentage of new customers, which have a higher contribution margin per unit than upgrade customers, the number of units required to break even decreases: New CustomersUpgrade CustomersBreakeven Point Requirement 3(a) Requirement 1 Requirement 3(b) 50% 60 90 50% 40 10 140,000 134,616 120,690 3-15 3-29 (20 min.) Athletic scholarships, CVP analysis. 1.Let the number of athletic scholarships be denoted by Q Then,$1,000,000 + $20,000Q=$5,000,000 $20,000Q=$5,000,000 $1,000,000 $20,000Q=$4,000,000 Q=$4,000,000 Q=$4,000,000 $20,000 = 200 scholarships 2.Total budget for next year=$5,000,000 (1 0.20) = $5,000,000 0.80