HND财政预算报告范本(英文版)

1、更多企业学院：中小企业管理全能版183套讲座+89700份资料总经理、高层管理49套讲座+16388份资料中层管理学院46套讲座+6020份资料国学智慧、易经46套讲座人力资源学院56套讲座+27123份资料各阶段员工培训学院77套讲座+ 324份资料员工管理企业学院67套讲座+ 8720份资料工厂生产管理学院52套讲座+ 13920份资料财务管理学院53套讲座+ 17945份资料销售经理学院56套讲座+ 14350份资料销售人员培训学院72套讲座+ 4879份资料IntroductionTricol plc a company who makes a range of furniture a

2、nd kitchenware. And one of its most popular products is the Zupper' expandable table.The purpose of writing this report is to do the variance analysis, project evaluation and to compare the budget and actual data by using the technique.FindingsPart APossible Reason for Variances1. MaterialDirect

3、 Material - Total - £2,400 F made up:Direct Material Usage - £ 20000 F(Level of significance - usage/total budgeted Material costs = 8,000/64,000 = 12.5% > 3%, should be reviewed)2000 kg less materials are used than budgeted for the actual level of production. Possible reason may be usi

4、ng the higher-grade material with less wastage. Or the new machinery use less materials and incurs less wstage.Direct Material Price-£ 5,600 A(5,600/64,000=8.75% >3%)It is £ 1 per kg more expensive than plannedPossible reason:New material supplier does not give discounts for materials.H

5、ither-grade materials have been used which is more expensive.2. LabourDirect Labour Total - £ 6,400ADirect Labour Rate - £ 3,520A(3,520/28,800=12.2%>3%)On average, the actual labour rate is£ 1/hour higher than budgetedPossible reason:The wage settlement is higher than expectedThe n

6、ew machine requires trainings so that overtime required more than expected.Direct labour Efficiency -£ 2000 A>3%)4.16%Actually, more than 200 labour hours have been used than budgeted. Possible reason: New machinery requires more hours for training.Human resource issues- the skilled operativ

7、es is not enough.3. Total Overhead - £600 FRate is 4.70%Unpredicted increase in insurance and Administration costsPossible reason:New machinery brings more expensive insurance, higher maintenance and additional administrative costs.Part B1. Key assumptions made:a) There is no taxation and infla

8、tion.b) Assumed that there is no vary given return market rate.c) The total cost of the project will be payable at the startd) The expected revenue from the investment- this is the expected Net Cash Flow after deduction of all relevant costs2. PaybackPayback in this case is 4.125 years (total invest

9、ment-return period is five years). So the company can get back the investment.The Net Present Value is £ - 64, 800. It indicates that the project does not appear to be financially viable.ConclusionPart BThis project is available because the payback is 4.125years.But the Net Present Value (NPV)

10、is negative. So the project is not available.However, we should use the conclusion of the Net Present Value because the Net Present Value (NPV) considered the time value of money.RecommendationsPart ARecommendations for management action:1. All the variances should be analysis because all of them ar

11、e above 3%, the level of significance.2. Particularly, the direct labour variances need further investigation - why is the company paying a higher wage rate but the labour productivity is lower than planned.Part B1. To consider the effect of the new facilities on company' s own staff in terms of

12、 employment and redeployment opportunities.2. To consider any changes in any other areas, like social, political, economic, legal and technological factors.3. Whether it is possible for the company to raise the sufficient funds to consider if the current cash flow position can support such an invest

13、ment.AppendixPart A1. Table 1 Tricol plc Flexed Budget for JuneTricol plc Flexed Budget For JuneFixed Budget 2,000 unitsFlexed Budget 1,600 unitsActual1,600 unitsVariance££££1 A/FDirect Material10*4*2,000=80,00010*4*1,600=64,00061,6002,400FDirect Labor2*9*2,000=36,0002*9*1,600=28

14、,80035,2006,400AVariable Production Overheads2*2,000=4,0002*1,600=3,2003,2000Insurance costs2,2002,2002,400200ADepreciation1,50011,5001,5000Rent and Rates2,5002,5002,5000Administration Overheads2,0002,0002,200200AFixed Overheads8,2008,2008,600400ATotal128,200104,200108,6004,400A2. Further Variance A

15、nalysisThe calculation of the variancesa) Direct material total :(Budgeted Quantity*Budgeted Price) - (Actual Quantity*Actual Price)=(4kg*1,600* £10per kg) - (5,600kg*£ 11 per kg)=£ 64,000-£ 61,600=£ 2,400 Fb) Direct material usage :Budgeted price* (Budgeted Quantity Actual

16、Quantity)=£ 10per kg * (4kg * 1,600-5,600kg)= £ 8,000 Fc) Direct material price :Actual Quantity* (Budgeted price -Actual price)=5,600kg*( £ 10 per kg - £11 per kg)二 £5,600Ad) Direct labor total :Budgeted Hours*Budgeted Rate - Actual hours*Actual Rate二(2hours*1600* £ 9)

17、- £ 35200=£ 6,400Ae) Direct labor rate :Actual Hours*(Budgeted Rate - Actual Rate) =3,520hours*(£9- £ 10)= £3,520Af) Direct labor efficiency :Budgeted Rate*(Budgeted Hours - Actual Hours)=£ 9-(2hours*1600-3520hours尸 £ 2,880Ag) Total overhead :(Budget Variable Overh

18、ead + Budget Fixed Overhead) - (Actual Variable Overhead +Actual Fixed Overhead) = ( 4000 + 8200) - ( 3200 + 8600) = 400 FPart B1. Payback period methodYearYearly net cash flow £Cumulative cash flow £0(1,000,000)(1,000,000)1160,000(840,000)2160,000(680,000)3320,000(360,000)4320,000(40,000)5320,000280,000Net cash benefits280,000280,000Payback = 4 + 40,000/320,000= 4.125 years2. Discount cash flow technique(net present