Microsoft Word - 05_2018_Edition_Business_Textbook 2A.docx

Size: px

Start display at page:

Download "Microsoft Word - 05_2018_Edition_Business_Textbook 2A.docx"

えみもてぎ
5 years ago
Views:

1 Cost Accounting 1 Break even Analysis TRATEGY IMPLEMENTATION Balanced Scorecard STRATEGY MONITORING Responsibility Segments COST ASSIGNMENT Absorption (Full) vs. Variable (Direct) Costing High-Low Method Learning Curve Analysis 2A-1

2 NOTES 2A-2

3 S U M M A R Y N O T E S I. BREAKEVEN ANALYSIS 損益分岐点分析 Breakeven analysis determines the sales required (in dollars or units) to result in zero profit or loss from operations. After breakeven has been achieved, each additional unit sold will increase net income by the amount of the contribution margin per unit. 損益分岐点分析は利益ゼロ ( 損失ゼロ ) という結果に必要な売上 ( 金額あるいは単位 ) を決定する売上が損益分岐点を超えた後は追加販売された 1 単位ごとに単位あたりの貢献利益の金額が純利益を増加させる公式 S : 売上高 S - VC - FC = OI OI : Operating income p n - v n - FC = OI VC : 変動費 S - αs - FC = OI FC : 固定費 α : 変動費率 BEP in dollars : S - VC - FC = 0 Target income : S - VC - FC = Target income Margin of safety (M/S) : Sales-BEP in sales A. Standard Formulas 基準公式 1. Breakeven Point in Units 損益分岐点販売量 Total fixed costs Contribution margin per unit p : 販売単価 n : 販売数量 V : 単位あたり変動費 = Breakeven point in units 2. Breakeven Point in Dollars 損益分岐点売上高 a. Multiply the breakeven units and the selling price per unit: 上記 1 で計算された損益分岐点販売量に販売単価を掛けて算出する Unit price Breakeven point in units Breakeven point in dollars b. Contribution margin ratio approach: 貢献利益率アプローチでは総固定費を貢献利益率で割って損益分岐点売上高を計算する Total fixed costs = Breakeven point in dollars Contribution margin ratio B. Required Sales for a Desired Profit 求められる利益に必要な売上高 Breakeven analysis can be extended to calculate the required sales to produce a desired net income by treating the desired net income as another fixed cost. 損益分岐点分析は必要な純利益をその他固定費として扱うことで必要な売上高の計算が出来る Required sales (units or $'s) = Total fixed cost + desired profit C/M % or C/M per unit 2A-3

C. Breakeven Chart 損益分岐点チャート D. Margin of Safety 安全余裕度 The margin of safety is the excess of sales over breakeven sales. 安全余裕度は損益分岐点売上を上回る売上高の超過分である 1.

4 C. Breakeven Chart 損益分岐点チャート D. Margin of Safety 安全余裕度 The margin of safety is the excess of sales over breakeven sales. 安全余裕度は損益分岐点売上を上回る売上高の超過分である 1. The margin of safety expressed in dollars is calculated as follows: 安全余裕度は以下のように計算される Total sales in dollars Breakeven sales in dollars = Margin of safety in dollars 2. The margin of safety can also be expressed as a percentage of sales: 安全余裕度は売上に対する割合 (%) として表すこともできる Margin of safety in dollars = Margin of safety percentage Total sales 2A-4

5 II. STRATEGY IMPLEMENTATION Balanced Scorecard 戦略実施バランススコアカード Strategy is often implemented through control processes. The balanced scorecard (generally a senior management or executive tool) is one such control mechanism that gathers information on multiple dimensions of an organization's performance defined by critical success factors necessary to accomplish firm strategy. Critical success factors can be classified within various categories and are commonly displayed as: 戦略はしばしば管理プロセスを通して実行されるバランススコアカード ( 一般的にはシニアマネジメントあるはエグゼクティブ向けツール ) はそのような管理メカニズムの一つであるそれは企業の戦略を達成するために必要とされる必須成功要因を定義し組織の業績について多面的な情報収集を行うツールである必須の成功要因は様々なカテゴリーに分類可能で一般的に以下のように表示される A. Financial Performance 財務業績 This category includes critical financial performance measures, such as current ratio or gross margin. このカテゴリーは流動比率あるいは粗利益といった必須の財務業績評価を含む B. Internal Business Processes 内部ビジネスプロセス This category includes critical business process measures, such as through-put time. このカテゴリーはスループットタイム ( 業務処理時間 ) といった必須のビジネスプロセス評価を含む C. Customer Satisfaction or Advancement of Innovation 顧客満足あるいは革新の向上 This category includes critical customer satisfaction measures, such as customer retention. このカテゴリーは顧客維持率といった必須の顧客満足度評価を含む D. Human Resource Development 人材開発 This category includes critical human resource measures, such as employee retention, innovations, suggestions made and accepted, etc. このカテゴリーは雇用維持率実施された革新の数提案され実施された提案の数のような必須の人材評価を含む III. STRATEGY MONITORING Responsibility Segments 戦略モニタリング責任区分 Responsibility segments, sometimes referred to as strategic business units (SBUs), are highly effective in establishing accountability for financial dimensions of the business. Performance reporting for each SBU measures their financial responsibility. SBUs are often subdivided into additional categories, including product lines, geographic areas, or customers. Specific SBU classifications include: 責任区分は戦略的事業単位 (SBU) とも呼ばれ事業の財務的側面の責任を設定する上でとても有効である各 SBU の実績報告はそれぞれの財務責任を測定する手段となる SBU はしばしば製品ライン地域的エリアあるいは顧客を含めた追加カテゴリーに分類される特定の SBU 分類は以下を含む A. Cost SBU Managers are held responsible for controlling costs in a cost SBU. マネージャーは費用管理に責任を負う B. Revenue SBU Managers are held responsible for generating revenues in a revenue SBU. マネージャーは収益に責任を負う 2A-5

6 C. Profit SBU Managers are held responsible for producing a target profit (i.e., accountability for both revenue and costs) in a profit SBU. マネージャーは目標利益の達成に責任を負う ( 例収益と費用の両方の責任 ) D. Investment SBU Managers are held responsible for the return on the assets invested in an investment SBU. The return must be equal to or greater than the management minimum required rate of return. マネージャーは資産の投資効果に責任を負う投資利益は必要最低限の利益率と同等あるいはそれ以上でなければならない 2A-6

7 IV. COST ASSIGNMENT Absorption (Full) vs. Variable (Direct) Costing コスト配分全部原価計算 VS 直接原価計算 Absorption costing represents GAAP basis computations of gross profit, while variable (direct) costing develops contribution margins compatible with break-even analysis. 全部原価計算は GAAP ベースでの総利益の計算を表しており直接原価計算は損益分岐点分析で使用される貢献利益の計算に使用される A. Absorption (Full Costing) Approach 全部原価計算アプローチ Absorption costing capitalizes fixed factory overhead as part of inventory in accordance with GAAP. Therefore, absorption costing includes direct materials, direct labor, and fixed and variable overhead. 全部原価計算は固定製造間接費を在庫の一部として資産勘定に計上する Revenue Less: Cost of goods sold Gross profit Less: Operating expenses Net income XXX ( XXX) XXX ( XXX) XXX B. Variable (Direct) Costing 直接原価計算 In variable (direct) costing, only variable manufacturing costs (direct materials, direct labor, and variable factory overhead) are included in inventory. Fixed factory overhead is excluded from inventory and treated as a period cost: 直接原価計算は変動製造費用 ( 直接材料直接労働変動製造間接費 ) のみ棚卸資産勘定に含む固定製造間接費は期間費用として扱う Sales Less: Variable costs Contribution margin Less: Fixed costs Net income XXX ( XXX) XXX ( XXX) XXX 2A-7

C. Income Effect 所得効果 * Net income is higher under absorption costing because fixed manufacturing overhead cost is deferred in inventory as inventories increase.

8 C. Income Effect 所得効果 * Net income is higher under absorption costing because fixed manufacturing overhead cost is deferred in inventory as inventories increase. このケースでは固定製造間接費用は棚卸資産が増加するにつれて繰延となるので純利益は全部原価計算でより高くなる **Net income is lower under absorption costing because fixed manufacturing overhead cost is released from inventory as inventories decrease. このケースでは固定製造間接費用は棚卸資産が減少するにつれて費用計上されるので純利益は全部原価計算でより低くなる V. HIGH-LOW METHOD 高低法 The high-low point method is used to estimate the fixed and variable portions of cost. It assumes that the differences between costs at the highest and lowest production levels are due directly to variable costs. Variable and fixed costs are calculated as follows: 高低法は固定費と変動費の見積もりに使用される最高の生産量レベルと最低の生産量レベルにおける費用の差異を変動費用によるものと仮定する方法である A. Computation of Variable Cost per Unit 単位ごとの変動コストの計算 Costs at high Costs at low = Activities at high Activities at low Changes in costs = Variable cost per unit Changes in activities B. Computation of Total Fixed Costs 合計固定費用の計算 Total cost (Variable cost per unit Activity) = Fixed costs VI. Learning Curve Analysis 学習曲線分析 Learning curve analysis is based on the idea that per-unit labor hours will decline as worker become more familiar with a specific task or production process. 学習曲線分析は労働者が作業工程に熟練することによって製品 1 単位あたりの作業時間が減少していくことである 2A-8

9 NOTES 2A-9

10 M U L T I P L E - C H O I C E Q U E S T I O N S QUESTION 1 In Year 1, its first year of operations, Duke Manufacturing incurred the following costs when it produced 200,000 and sold 160,000 units of its only product, Blue: Manufacturing costs Fixed $360,000 Variable 320,000 Selling and admin costs Fixed 180,000 Variable 80,000 How much lower would Duke's net income for Year 1 have been if it had used variable costing instead of absorption costing? 1. $72, $54, $68, $94,000 QUESTION 2 Presented below is the production data for the first six months of the year for mixed costs incurred by Mouton Corporation: Month Cost Units January $14,700 1,800 February 15,200 1,900 March 13,700 1,700 April 14,000 1,600 May 14,300 1,500 June 13,100 1,300 July 12,800 1,100 August 14,600 1,500 Mouton Corporation uses the high-low method to analyze mixed costs. Variable cost per unit and fixed cost are respectively: VC FC 1. $1.00 $13, $3.00 $ 9, $1.00 $12, $2.00 $15,200 2A-10

11 QUESTION 3 William Company is experiencing profit problems and is analyzing its manufacturing cost behavior, which it does not really understand. Which of the following statements is/are correct with respect to cost volume profit analysis? I. An assumption of cost volume profit analysis is that all costs behave in a nonlinear fashion in relation to production. II. An assumption of cost volume profit analysis is that selling prices vary no more than 10%, up or down, within the relevant range of William's production. III. Contribution margin is defined as revenue less fixed costs. 1. I, II, and III are correct. 2. I only is correct. 3. II and III only are correct. 4. None of the listed choices are correct. QUESTION 4 Lampassas Corporation manufactures product Lam at its manufacturing facility. At annual sales of $900,000 for Year 1, product Lam had the following unit sales price and costs: Sales price $ 20 Prime cost 6 Manufacturing overhead: Variable 1 Fixed 7 Selling & administrative costs: Variable 1 Fixed 3 Profit $ 2 What was product Lam's breakeven point in dollars? 1. $500, $750, $630, $900,000 QUESTION 5 Belton Corporation is considering manufacturing and selling a new product. Based on potential sales of 1,000 units per year, the new product has estimated traceable costs of $1,200,000. What is the price that Belton must charge to obtain a 20% profit margin on sales? 1. $2, $1, $1, $1,000 2A-11

12 <SOLUTIONS> Question 1 Explanation Choice 1 is correct. In this question, they want to know what net income would have been for a company under both absorption costing and variable (or direct) costing. The company was in its first year of production, so there was no beginning inventory, but there was an ending inventory of 40,000 units (200, ,000). The difference between absorption costing and variable costing is in the treatment of fixed manufacturing costs. With absorption costing, fixed manufacturing costs are considered a product cost and are included in inventory; with variable costing, fixed manufacturing costs are considered period costs and are expensed in the period incurred. With either method, fixed selling and administrative costs are considered a period cost. In this question, fixed manufacturing costs were $360,000. Because 200,000 units were produced, fixed manufacturing cost per unit was $1.80 per unit ($360,000 / 200,000). 40,000 units remained in ending inventory, so the inventory cost attributable to the fixed manufacturing costs if absorption costing had been used would have been $72,000 ($1.80 x 40,000). This cost would have been expensed in Year 1 if variable costing had been used. Net income for Year 1 would thus have been $72,000 lower if variable costing had been used. Question 2 Explanation Choice 2 is correct. In this question, they want to know the cost function from a set of data for units and costs using the high-low method. The high level is the 1,900 units in February, and the low level is the 1,100 units in July. The costs for those months are $15,200 and $12,800. None of the other months are relevant because the high-low method uses only the high and low months. The slope of the line is the change in cost of $2,400 ($15,200 - $12,800) divided by the change in activity of 800 (1,900-1,100), or $3 per unit. The total cost of $15,200 less the variable cost of $5,700 for those units ($3 x 1,900), yields fixed cost of $9,500. 2A-12

13 Question 3 Explanation Choice 4 is correct. The question requires evaluation of the validity of a series of statements about cost volume profit analysis. "None of the above" is available if none of the statements are correct. Statement I says that an assumption of cost volume profit analysis is that all costs behave in a nonlinear fashion in relation to production. Actually, the assumption is that all costs behave in a linear, not nonlinear, fashion. Statement I is incorrect. Statement II says that an assumption of cost volume profit analysis is that selling prices vary no more than 10%, up or down, within the relevant range of William's production. Actually, the assumption is that selling prices are unchanged. Statement II is incorrect. Statement III says that contribution margin is defined as revenue less fixed costs. Contribution margin is actually defined as revenue less variable costs. Statement III is incorrect. Question 4 Explanation Choice 2 is correct. The question requires computation of the breakeven point in dollars for a product. Certain cost and other data are provided. Annual sales are $900,000, and the sales price is $20 per unit. That means 45,000 units were sold. $900,000 is one of the answers, but it cannot be the correct answer because there was a profit of $2 per unit and the question is asking for breakeven. On a unit basis, total fixed overhead was $10 ($7 $3). At 45,000 units, total fixed costs were $450,000. To determine the breakeven point, it is necessary to determine the variable cost per unit. Prime cost (direct materials and direct labor) is given, and so are variable overhead and variable selling and administrative costs. Total variable costs are thus $8 ($6 $1 $1). The breakeven equation for this question can be written as 20X 8X 450,000, where X is the units sold at the breakeven point. Solving for X produces 37,500 units at $20 per unit, or $750,000 ($20 37,500). Question 5 Explanation Choice 3 is correct. The question requires computation of the target price for a new product. Certain cost and other data are provided. Traceable costs are 80% of sales. If traceable costs are $1,200,000, sales are $1,500,000 ($1,200,000 /.80) and profit on sales is 20% ($1,500,000 - $1,200,000 = $300,000). If projected unit sales are 1,000 units, then the unit price would be $1,500. 2A-13

14 B4 Simulation 2 Task 1 Variable Costing 2A-14

15 2A-15

Solution 1. 30,000 The breakeven point in units can be calculated by dividing the fixed costs of $810,000 by the contribution margin per unit of $27 ($90 sales price $63 variable costs).

16 Solution 1. 30,000 The breakeven point in units can be calculated by dividing the fixed costs of $810,000 by the contribution margin per unit of $27 ($90 sales price $63 variable costs). $810,000 / $27 = 30,000 units. 2. $2,700,000 The breakeven point in dollars can be calculated by dividing the fixed costs of $810,000 by the contribution margin ratio of 30% ($27 contribution margin/$90 sales price per unit). $810,000 / 0.30 = $2,700, ,000 The units needed to earn the desired profit can be calculated by taking the sum of fixed costs ($810,000) and the desired pretax profit ($135,000) and dividing it by the contribution margin of $27. ($810,000 + $135,000) / $27 = 35,000 units. 4. $3,150,000 The sales dollars needed for the desired profit can be calculated by dividing the fixed costs of $810,000 plus the desired profit of $135,000 by the contribution margin ratio of 30% ($27 contribution margin/$90 sales price per unit). ($810,000 + $135,000) / 0.30 = $3,150,000. 2A-16

5. No Impact Any change in fixed costs will not impact the contribution margin, as this margin is equal to sales per unit less variable costs per unit. 6.

17 5. No Impact Any change in fixed costs will not impact the contribution margin, as this margin is equal to sales per unit less variable costs per unit. 6. Increase A decrease in both sales and variable costs of $10 per unit will equate to an $80 sale price and $53 in variable costs per unit. The contribution margin stays the same at $27, but the contribution margin ratio will increase to 33.75% ($27 / $80 = 33.75%). 7. Increase If the desired pretax profit increases, more units will need to be sold to achieve that profit. equate to more total variable costs incurred. More units 8. No impact The calculation of breakeven in units is not dependent on the tax rate. 2A-17

YUHO

YUHO -1- -2- -3- -4- -5- -6- -7- -8- -9- -10- -11- -12- -13- -14- -15- -16- -17- -18- -19- -20- -21- -22- -23- -24- -25- -26- -27- -28- -29- -30- -31- -32- -33- -34- -35- -36- -37- -38- -39- -40- -41- -42-