ACCAF5考試真題答案

1、精品文檔Answers精品文檔Fundamentals Level - Skills Module, Paper F5 Performance ManagementDecember 2014 AnswersSection ADivision A: Profit = $14 4m x 30% = $4 32mImputed interest charge = $32Residual income = $10 6m6m x 10% = $3 26mDivision B: Profit = 8 8m x 24%Imputed interest charge = $22Residual income

2、= $(0108)m=$2 112m2m x 10% = $2 22mAll costs are included when using life cycle costing.This is the definition of a basic standard.The first statement is describing management control, not strategic planning.Number of units required to make target profit = fixed costs + target profit/contribution pe

3、r unit of P1.Fixed costs = ($1 2 x - 10,000) + ($1 x 12,500)$2,500 = $22,000.Contribution per unit of P = $320 + $1 20 = $4 40.($22,000 + $60,000)/$440- = 18,636 units.ProductABCDSelling price per unit$160$214$100$140Raw material cost$24$56$22$40Direct labour cost at $11 per hour$66$88$33$22Variable

4、 overhead cost$24$18$24$18Contribution per unit$46$52$21$60Direct labour hours per unit6832Contribution per labour hour$7 67$6 50$7$30Rank2431Normal monthly hours (total units x hours per unit)1,8001,000720800AIf the strike goes ahead, only 2,160 labour hours will be available.Therefore make all of

5、D, then 1,360 hours'worth of A (28060hrs).460400 = 60 clients$40,000$36,880 = $3,120VC per unit = $3,120/60 = $52Therefore FC = $40,000(460 x $52) = $16,080Increase in variable costs from buying in (2,200 units x $40 ($140 Less the specific fixed costs saved if A is shut down = ($10,000) Decreas

6、e in profit = $78,000$100) = $88,000249101112131415161718AOnly the first statement is correct. Traditional absorption costing tends to over-allocate costs to high volume products, not under-allocate them.BBy definition, a shadow price is the amount by which contribution will increase if an extra kg

7、of material becomes available. 20 x $2 80 = $56.CNeither statement is correct. Responsibility is not assigned solely to senior managers as, for example, in a TQM environment quality is everybody ' s responsibility. In addition, standard costing can be difficult to apply in dynamic situations.ATh

8、e second statement is talking about flow cost accounting, not input/output analysis.DTarget 1 is a financial target and so assesses economy factors. Target 2 is measuring the rate of work handled by staff which is an efficiency measure. Target 3 is assessing output, so is a measure of effectiveness.

9、BIn comparison to participative budgeting, an advantage of non-participative budgeting is that it should be less time consuming, as less collaboration will be required in order to produce the budgets.CThe target costing process always begins with the target selling price being set. The required prof

10、it is then determined and deducted from the target selling price to estimate the target cost. The target cost is then compared to the estimated current cost and the cost gap is then calculated.AThis is a description of an incremental budget.ANew profit figures before salary paid:Good manager: $180,0

11、00 x 13- = $234,000Average manager: $180,000 x 12 = $216,000Poor: $180,000 x 11 = $198,000EV of profits = (0 35 x $234,000) + (0 45 -x $216,000) + (02 x $198,000) = $81,900 + $97,200 + $39,600 = $218,700Deduct salary cost and EV with manager = $178,700Therefore do not employ manager as profits will

12、fall by $1,300.BSet-up costs per production run = $140,000/28 = $5,000Cost per inspection = $80,000/8 = $10,000Other overhead costs per labour hour = $96,000/48,000 = $2Overheads costs of product D:$Set-up costs (15 x $5,000)75,000Inspection costs (3 x $10,000)30,000Other overheads (40,000 x $2)80,0

13、00 185,000 Overhead cost per unit = 185,000/4,000 = $462519 A20This is an example of feedforward control as the manager is using a forecast to assist in making a future decision.AIf demand is inelastic or the product life cycle is short, a price skimming approach would be more appropriate.503158 ho

14、urs.45964 hou rs.Therefore incremental time for 8th unit = 40503158 hours 37 45964 hours = 3 043518 hours.Total labour cost for 8th unit =3043518 -x $15 = $4565277Material and overheads cost per unit = $230Therefore total cost per unit = $275Therefore price per unit = $413，65277 47915(b) (i)Cumulati

15、ve number ofCumulative totalCumulative averageseats producedhourshours per unit112 512 52?12 5 x r4?12 5 x r 2834 312 5 x r3Actual learning rateUsing algebra: 34 3 = - 8 x (12 5 x r 3) 4 2875 = (12 5 x r3) 0 343 = r 3 r = 0 7 0The learning effect was 70% as compared to the forecast rate of 75%, mean

16、ing that the labour force learnt more quickly than anticipated.(ii)Adjusted priceSection BChair Co(a) Learning curve formula = y = ax bCumulative average time per unit for 8 units:Y = 12 x 8415=5 0628948 hours.Therefore cumulative total time for 8 units = 40Cumulative average time per unit for 7 uni

17、ts: Y = 12 x 7415=5 3513771 hours.Therefore cumulative total time for 7 units = 37The adjusted price charged will be lower than the original price calculated in part (a). This is because the incremental5 hours. We know thcost of the 8th unit will be lower given the 70% learning rate, even though the

18、 first unit took 12because we are told that the cumulative time cumulative time in part (a) for 8 units of 40 8th unit must be lower than the estimated 3for 8 units was actually 343 hours. This is lower than the estimated503158 hou rs and therefore, logically, the actual incremental time for the0435

19、18 hours calculated in part (a). Consequently, total cost will be lowerand price will be lower, given that this is based on cost.2 Glam Co(a) Bottleneck activityThe bottleneck may have been worked out as follows:Total salon hours = 8 x 6 x 50 = 2,400 each year. The capacity for each senior stylist m

20、ust be 2,400 hours, which equates to 2,400 cuts each year (2,400/1). Since there are three senior stylists, the total capacity is 7,200 hours or 7,200 cuts each year. Using this method, the capacity for each activity is as follows:CutTreatmentAssistants48,00016,000Senior stylists7,2004,800Junior sty

21、lists9,6009,600The bottleneck activity is clearly the work performed by the senior stylists.The senior stylists ' time is called a bottleneck activity because it is the activity which prevents the salont frombeing higher than it is. The total number of cuts o r treatments which can be completed

22、by the salon' s senior stylists is lethan the number which can be completed by other staff members, considering the number of each type of staff available and the time required by each type of staff for each client.(b) TPARCutTreatment$Selling price60110Materials0 608 (7 40+0 -6)Throughput59 401

23、02Throughput per bottleneck hour59 4068Total salon costs per BN hour (w1)42 5642 56TPAR1 41 6Working 1: Total salon costs(3 x $40,000) + (2 x $28,000) + (2 x $12,000) + $106,400 = $306,400Therefore cost for each bottleneck hour = $306,400/7,200 = $4256Note: Answers based on total salary costs were $

24、80,000 were also equally acceptable since the wording of question was open to interpretation.3 Hi Life CoDirect materials:Note$Fabric200 m 2 at $17 50 per m 213,500Wood20 m at $8 20 per m2164Direct labour:30 m at $8 50 per m2255Skilled50 hours at $24 per hour31,200Semi-skilled300 hours at $14 per ho

25、ur44,200Factory overheads20 hours at $15 per hour5300Administration overheads6Total cost9,6191 Since the material is in regular use by HL Co, it is replacement cost which is the relevant cost for the contract.2 30 m will have to be ordered from the alternative supplier for immediate delivery but the

26、 remaining 20 m can be used frominventory and replaced by an order from the usual supplier at a cost of $820 per m.3 There is no cost for the first 150 hours of labour because there is spare capacity. The remaining 50 hours will be paid at time and a half, which is $16 x 15, i.e. $24 per hour.4 HL C

27、o will choose to use the agency workers, who will cost $14 perhour, since this is cheaper than payingexistingsemi-skilled workers at $18 per hour ($12 x 15) to wor k overtime.5 None of the general factory costs are incremental, so they have all beenexcluded. However, the supervisor'sincremental,

28、 so has been included. The supervisor' s normal salary, on the other handbeen excluded because it is notincremental.6 These are general overheads and are not incremental, so no value should be included for them.4 Jamair(a) The four perspectivesFinancial perspective - this perspective is concerne

29、d with how a company looks to its shareholders. How can it create value for them? Kaplan and Norton identified three core financial themes which will drive the business strategy: revenue growth and mix, cost reduction and asset utilisation.Customer perspective this co nsiders how the organisation ap

30、pears to customers. The organisation should ask itself: achieve our vision, how should we appear to our customers?' The customer perspective should identify the customer an(market segments in which the business will compete. There is a strong link between the customer perspective and the revenue

31、 objectives in the financial perspective. If customer objectives are achieved, revenue objectives should be too.Internal perspective this requires the organ isation to ask itself:' what must we excel at to achieve our financial and customerobjectives? ' It must identify the internal business

32、 processes which are critical to the implementation of the organisation strategy. These will include the innovation process, the operations process and the post-sales process.Learning and growth perspective - this requires the organisation to ask itself whether it can continue to improve and create

33、value. The organisation must continue to invest in its infrastructurei.e. people, systems and organisational procedures inorder to improve the capabilities which will help the other three perspectives to be achieved.(b) Goals and measuresFinancial perspectiveGoalPerformance measureTo use fewer plane

34、s to transport customersLease costs of plane per customerExplanation operating efficiency will be driven by getting more customers on fewer planes. This goal and measure cover the cost side of this.GoalPerformance measureTo increase seat revenue per planeRevenue per available passenger mileExplanati

35、on this covers the first part of achieving operating efficiency by having fewer empty seats on planes.Customer perspectiveGoalPerformance measureTo ensure that flights are on time' On time arrival ' ranking from the aviation authorityExplanation Jamair is currently number 7 in the rankings.

36、If it becomes known as a particularly reliable airline, customers are more likely to use it, which will ultimately increase revenue.GoalPerformance measureTo reduce the number of flights cancelledThe number of flights cancelledExplanation again, if flights are seen to be cancelled frequently by Jama

37、ir, customers will not want to use it. It needs to be perceived as reliable by its customers.Internal perspectiveGoalPerformance measureTo improve turnaround time on the ground' On the ground ' timeExplanation less time spent on the ground means fewer planes are needed, which will reduce pla

38、ne leasing costs. However, it is important not to compromise the quality of cleaning or make errors in refuelling as a consequence of reducing on the ground time.GoalPerformance measureTo improve the cleanliness of Jamair' s planes The percentage of customers happy with the standard of the plane

39、s,as reported in the customer satisfaction surveys.s planes.Explanation at present, only 85% of customers are happy with the standard of cleanliness on Jamair be causing loss of revenue.GoalPerformance measureTo develop the online booking systemPercentage downtime.Explanation - since the company rel

40、ies entirely on the booking system for customer booking of flights and check-in, it is critical that it can deal with the growing number of customers.Learning perspectiveGoalPerformance measureTo reduce the employee absentee rateThe number of days absent per employeeExplanation it is critical to Jam

41、air that its workforce is reliable as, at worse, absent staff lead to cancelled flights.GoalPerformance measureTo increase ground crew training on cleaning andNumber of days ' training per ground crew memberrefuelling proceduresExplanation if ground crew are better trained, they can reduce the n

42、umber of minutes that the plane stays on the ground, which will result in fewer planes being required and therefore lower costs. Also, if their cleaning is better, customer satisfaction and retention will increase.Note: Only one goal and measure were required for each perspective. In order to gain f

43、ull marks, answers had to be specific to Jamair as stated in the requirements.Safe Soap Co(a) Variance calculationsMix varianceTotal kg of materials per standard batch = 025 + 0 6+ 0 5 = 1 35 kgTherefore standard quantity to produce 136,000 batches = 136,000 x 135 kg = 183,600 kgActual total kgof ma

44、terials used to produce 136,000 batches=34,080 + 83,232 + 64,200 =181,512 kgMaterialActual quantityActual quantityVarianceStandard costVarianceStandard mixActual mixper kgkgskgskgs$Lye181,512 x 0 25/1 35 = 33,613 3334,080(466 67)10(4,666 70)Coconut oil181,512 x 0 6/1 35 =80,67283,232(2,560)4(10,240)

45、Shea butter181,512 x 0 5/1 35 = 67,226 6764,2003,026 6739,080 01181,512181,512(5,826 69)AYield varianceMaterialStandard quantityActual quantityVarianceStandard costVarianceStandard mixStandard mixper kgkgskgs$Lye0 25 x 136,000 =34,00033,613 33386 -67103,866 70Coconut oil0 6 x 136,000 =81,60080,67292

46、843,712Shea butter0 5 x 136,000 =68,00067,226 67773 3332,319 99183,600 181,5129,898 69F(b) (i) A materials mix variance will occur when the actual mix of materials used in production is different from the standard mix. So, it is inputs which are being considered. Since the total mix variance is adve

47、rse for the Safe Soap Co, this means that the actual mix used in September and October was more expensive than the standard mix.(ii)A material yield variance arises because the output which was achieved is different from the output which would have been expected from the inputs. So, whereas the mix

48、variance focuses on inputs, the yield variance focuses on outputs. In both September and October, the yield variance was favourable, meaning that the inputs produced a higher level of output than one would have expected.Whilst the mix and yield variances provide Safe Soap Co with a certain level of

49、information, they do not necessarilyexplain any quality issues which arise because of the change in mix. The consequences of the change may well havean impact on sales volumes. In Safe Soap Co' s case, the sales volume variance is adverse, meaning that sales volumes have fallen in October. It is not known whether they also fell in September but it would be usual for the effects on sales of the change in mix to be slightly delayed, i