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^`AfinancialanalysisreportforTricolplcOutcome3and4Class;10E6Name:MabodaSCN:125099297CandidateNum:22^`IntroductionTooperatebetterinfinancialaspect,themanagementofTricolplcaskedmeto感謝閱讀analyzetheirfinancialconditionthenmakerecommendationsforthem.精品文檔放心下載FindingsPartA(ⅰ)Flexbudgetinlinewithactualactivity精品文檔放心下載TricolplcFlexedBudgetforJune感謝閱讀Originalbudget

Flexedbudget

Actualresults

Variance2000

1600units

1600

F/Aunits units￡￡￡￡Directmaterial80,00064,00061,6002,400FDirectlabor36,00028,80035,2006,400AVariableproduction4,0003,2003,2000overheadFixedcostDepreciation1,5001,5001,5000Rentandrates2,5002,5002,5000^`Administrationoverhead2,0002,0002,200200AInsurancecosts2,2002,2002,400200ATotal128,200104,200108,6004,400A(ⅱ)VariancescalculationDirectmaterialtotalvariance謝謝閱讀(Standardunitsofactualproduction*standardprice)－(actualquantity*actualprice)感謝閱讀(4kg*1,600*￡10)－￡61,600=￡2,400(F)感謝閱讀Rateofsignificance:(3.75%)感謝閱讀Directmaterialusagevariance謝謝閱讀Standardprice*(standardunitsofactualproduction－actualquantity)感謝閱讀10*[(4kgⅹ1,600)－5,600kg]=￡8,000(F)感謝閱讀Rateofsignificance(12.5%)謝謝閱讀Directmaterialpricevariance謝謝閱讀Actualquantity*(standardprice－actualprice)感謝閱讀5,600kg*[￡10－(￡61,600/5,600kg)]=￡(5,600)(A)感謝閱讀Rateofsignificance:(8.75%)謝謝閱讀^`Directlabourtotalvariance謝謝閱讀(Standardhoursofactualproduction*standardrateph)-(actualhours*actualrateph)謝謝閱讀[(2hrs*1,600)*￡9]－￡35,200=￡(6,400)(A)謝謝閱讀Rateofsignificance:(22.22%)精品文檔放心下載Directlabourefficiencyvariance精品文檔放心下載Standardrateph*(standardhoursofactualproduction－actualhours)感謝閱讀￡9*(2hrs*1,600－3,520hrs)=(2,880)(A)謝謝閱讀Rateofsignificance:(10%)感謝閱讀Directlabourratevariance謝謝閱讀Actualhours*(standardrateph–actualrateph)謝謝閱讀3,520hrs*(￡9*－￡35,200/3,520hrs)=￡(3,520)(A)謝謝閱讀Rateofsignificance:(12.22%)謝謝閱讀TotaloverheadvarianceTotalstandardoverheadforactualproduction－totalactualoverheads(￡18,000/12+￡2,500+￡2,200+￡2,000)-(￡1,500+￡2,500+￡2,200+￡2,400)=￡(400)(A)謝謝閱讀Rateofsignificance:(3.5%)感謝閱讀(ⅲ)Reportaboutvariances謝謝閱讀^`DirectmaterialvarianceThedirectmaterialtotalvariancecanbeanalyzedintwoaspectswhicharedirectmaterialvolumeanddirectmaterialprice.精品文檔放心下載Forvolumeside,ascalculatedabove,thebudgetvolumeis6400kg;theactualvolumeis5600kg.Sothereis800kgvariancewhichisfavorableandeachunitvarianceis0.5kg.Thelikelyreasoncausingthevariancecomesfromthreeaspects.Firstofall,thecompanyupgradedtheproductionmachineryrecently,andnewmachinemayusematerialsefficiently,soitreducedthewasteofmaterials.Secondly,thecompanyswitchedsuppliersandusinghigher-gradematerialscandecreasewasteofmaterialstoo.Finally,thecompanyhasconcludedahigher-than-expectedwagesettlementforproductionoperatives,whichwillmaintainemployeeswithhigherskillsaswellasdecreaseturnoverofemployees,anditalsocanincreaseefficiencyinusingmaterials.感謝閱讀Forpriceaspect,thebudgetpriceis￡10perkg,andtheactualpriceis￡11perkg,itisadversethatonepoundoverthebudgetprice.Thecompanyswitchingsuppliersmaycausetheincreaseofnegotiationcost.Theremaybealong-termrelationshipbetweenTricolplcanditsoldsuppliers,sothesuppliersmaytakelotsofdiscountstothefirm.Afterchangingsuppliers,thediscountmay精品文檔放心下載^`disappear.Furthermore,highergradematerialsincreasedunitprice.精品文檔放心下載Overall,thetotalmaterialvarianceisfavorable.￡8,000－￡5,600=￡2,400.感謝閱讀DirectlabourvarianceThedirectlabourtotalvarianceiscomposedofdirectlabourefficiencyvarianceanddirectlabourratevariance.感謝閱讀Thebudgetdirectlabourhoursare3,200hrsandtheactuallabourhoursare3,520hrs.Therearemore320hrsneededthanthebudget,andeachunitis感謝閱讀0.2hrs,whichitisobviouslyadverse.Thecompanyupgradingtheproductionmachinerymayneedtimeforemployeestoadoptit.Also,employeesneedtrainingtime.Therebuildprocessofmachineryconsumedtimetoo.Inaword,thechargeablehourshaveincreased.謝謝閱讀Thebudgetdirectlaourhoursrateis￡9perhour,theactualhoursrateis￡10perhour.Itisadversethatonepoundhigherthanbudgeted.Itispossiblecausedbybothinternalandexternalfactors.Higher-than-expectedwagesettlementmaybeinternalreasonforthevariance,andnewmachinerymaybeneededtorecruitnewemployeestooperatethemachinery,whichalsocanincreasetheexpense.Forexternalfactors,thechangingoflabourmarketmayincreaselabourcost;thegovernmentlegislationalsocanincreasethelabourcost,forexample謝謝閱讀^`minimumpay.Bothdirectlabourefficiencyanddirectlabourratevariancesareadverse,sothedirectlabourtotalvarianceisadverse.精品文檔放心下載OverheadvarianceAscalculatedabove,totaloverheadvarianceiscausedbyadministrationandinsurance.Eachfactorhas￡200variance,sothetotaloverheadvarianceis￡400anditisadverse.Duringtheprocessofchangingsupplier,thecompanyneededmoreexpenseonpublicrelationshipornegotiation,inaddition,inordertomaintainthenewmachinery,administrationcostwillbeincreasedtoo.Forinsuranceaside,theimprovementofmachinerywillneedmoreinsurancefeestocover,whichalsocontributestotheincreaseofinsurancefeeofnewemployees.感謝閱讀PartBSelectionandapplicationoftwoinvestmentappraisaltechniques謝謝閱讀Asthecompanyiskeentorecoupthecostoftheinvestmentwithinfiveyears,I精品文檔放心下載^`willchoosePaybackperiodandNetPresentValuetohelpmecompletethe精品文檔放心下載appraisal.Inordertofulfilltheappraisaleasily,therearesomeassumptionslistedbelow感謝閱讀shouldbeconsideredbeforetheappraisal.感謝閱讀Allrevenueandinflowareassumedcashflow感謝閱讀Allinvestmentcostincurredinyear0精品文檔放心下載Nouncertaintyisconsidered精品文檔放心下載Donotconsiderinflationandtaxation謝謝閱讀Marketrateofreturnisexpectedrateofreturn感謝閱讀Rateofreturnisvaryingalongwithtime精品文檔放心下載TricolplcPaybackperiodforprojectdistributionarmYearNetcashflowCumulativeCashFlow￡￡CashFlowYear0(1,000,000)(1,000,000)CashInflowYear1160,000(840,000)Year2160,000(680,000)Year3320,000(360,000)Year4320,000(40,000)Year5320,000280,000NetCashBenefitYear5280.000^`Note:require40,000/320,000inyear5=1/8*year=1.5mothsPayback=4years1.5moths精品文檔放心下載TricolplcNetPresentValueforprojectdistributionarm感謝閱讀Annualcashflow PresentvaluePresentValuefactorsat10%精品文檔放心下載￡￡￡Year0(1,000,000)1.000(1,000,000)Year1160,0000.909145,440Year2160,0000.826132,160Year3320,0000.751240,320Year4320,0000.683218,560Year5320,0000.621198,720935,200NPV(64,800)Recommendationaboutinvestment精品文檔放心下載AccordingtoPaybackPeriodanalysis,theinvestmentcostcanberecoupedinyear4and1.5moths.Inotherwords,theperiodisundercompany’sexpectation.Theprojectcanbeexecuted.However,accordingtoNetPresentValueanalysis,intermsofpresentvalue,withinfiveyears,whattheNPVwillbringnetresultisnetcashlossbutnotnetcashsurplus.Ingeneral,thecompanyshouldconsider謝謝閱讀^`timevalueandotherfactors,sotheprojectshouldnotbeexecuted.精品文檔放心下載Factorsimpactontheinvestmentshouldbeconsidered感謝閱讀Variousfactorswillimpactonresultofinvestment.Iwilloutlinefactorsshouldbeconsideredwhenthemanagementreviewingmyrecommendationinfinancialandnon-financialfactors.感謝閱讀FinancialfactorAsdistributionarmisfinanciallong-termbeneficialproject,itcanbeusedin謝謝閱讀long-termperiodandbringbenefitscontinuous.Theinvestmentcostis精品文檔放心下載￡1,000,000,whichcanbeconsideredalargeinvestment.Soitmorelikelyneedslongperiodpaybackperiod.Themanagementshouldfocusonlongercashflowsforlongerperiodoffuture.Ontheotherhand,NetPresentValueinyearfiveis(28,000)onlytake2.8%percentsoftheinvestmentcost,itismorelikelysurplusinyearsi