HND财政预算答案

1、PartATricolplcFIexedBudgetForJuneOriginalBudget2,000unitsFIexedBudget1,600unitsActuaIresults1,600unitsVarianceF/A££££DirectMateriaI80,00064,00061,6002,400FDirectLabour36,00028,80035,2006,400AVariabIeProductionOverheads4,0003,2003,2000InsuranceCosts2,2002,2002,400200ADepreciation1

2、5,0001,5001,5000RentandRates2,5002,5002,5000AdministrationOverheads2,0002,0002,200200ATotaI104,200108,6004,400A(ii)DirectmateriaItotaIvariance(standardunitsofactuaIproductionstandardprice)-(actuaIquantityactua即rice)(4kg1600)浅10-£61600=£64000£61600=£2400(F)TheratefordirectmateriaI

3、totaIvariancesis2,400/64,0001)00%=3.75%>3%DirectmateriaIpricevarianceactuaIquantity(standardpriceactuaIprice)二5600kgX£10-£11)=5600kgx£1=5600(A)TherateofdirectmateriaIpricevarianceis5,600/64,000poj0%=8.75%>3%DirectmateriaIusagevariancestandardprice(standardunitsofactuaIproduction

4、-actuaIunits)=£10X(4kg1600-5600kg)=£10X800kg=£8000(F)Therateofdirectmaterialusagevarianceis8,000/64,000月：00%=12.5%>3%5600(A) (pr ice) + 8Note:Whenaddingthepriceandusagevariancestheresu11mustequaIthetotaIvariance.Therefore,8000(F)(usage)=£2400(F)(total).DirectIabourtotaIvarianc

5、e(standardhoursofactuaIproductionstandardrateph)(actuaIhoursactuaIrateph)(2h1600)浅9(3520h浅10)=(3200h疫9)一£35200=£28800335200=£6400(A)TherateofdiretcIabourvarianceis6400/28800100%=22.2%»3%DirectIabourratevarianceactuaIhours(standardrateph-actuaIrateph)3520h>(£9£10)=352

6、0hx£1=£3520(A)TherateofdirectIabourratevarianceis3,520/28,8007»0%=12.2%>3%DirectIabourefficiencyvariancestandardrateph(standardhoursofactuaIproductionactuaIhours)£9X2hM600-3520h=£9X(3200h3520h)=£9X320h二£2880(A)TherateofdirectIabourefficiencyvarianceis2,880/28,00

7、0tW0%=10%>3%Note:Whenaddingrateandefficiencyvariancestheresu11mustequaIthetotaIvariance.Therefore,£3520(A)(rate)+22880(A)(efficiency)=£6400(A)(total).OverheadtotaIvariance(standardinsurancecost-actuaIinsurancecost)+(standardadministrationoverheadsactuaIadministrationoverheads)(£220

8、022400)+(£200022200)=£200(A)+2200(A)=£400(A)TherateofoverheadtotaIvarianceis400/4,200100%=9.52%>3%(iii)AnalysisMateriaIvarianceFromtheactuaIbudget,wecanseethatthedirectmateriaItotaIvarianceis£2,400(F).TheDirectmateriaIusagevarianceis£8,000(F)ttheDirectmaterialpricevarianc

9、eis£(5,600)(A).ThepossibIereasonsformateriaIusagevariancesareincIude:Usenewmachinery.UsehigherquaIityThepossibIereasonsformateriaIpricevariance:Changesuppliers.UsehigherquaIitymaterial.LossofdiscountLabourvarianceThedirectIabourtotaIvarianceis£(6,400)(A),theDirectIabourefficiencyvarianceis

10、£(2,880)(A)andtheDirectIabourratevarianceis£(6,400)(A).ThepossibIereasonfordirectIabourefficiencyvariance:LowergradeworkforceShortageofskilledIaborThepossibIereasonfordirectIabourratevarianceHighergradeworkforcesShortageofskilledIabourOverheadvarianceThetotaIoverheadvarianceis£(400)(A

11、).TheInsuranceandAdministrationvariancesare£(200)(A).ThetotaIoverheadvarianceis£(400)(A).ThepossibIereasonsforoverheadvariances:UsingnewmachineryIncreasedadministrationcostToconeIudeahigher-than-expectedwagesettIementforproductionoperates.DifficulttradingconditionsIntenseIycompetitionRecom

12、mendationAccordingtoaboveanalysis,wecaneasiIyunderstandtheorganization*scurrentsituation.InordertoachievetheIowercostsandhighprofitheresomerecommendationsdividedinthreesectionswhichincIuedmateriaIvariances,IabourvariancesasweIIastheoverheadvariances.TherecommendationformateriaIvariances:Investigatet

13、hecheapermateriaI.HoIdastafftrainingprogramtoincreasetheirworkefficiency.NegotiatewithcurrentsuppIierinordertoachieveIowerprice.TherecommendationforIabourvariances:ProvidetrainingprogramtostaffforhigherskillofoperatingthenewmateriaI.ConsiderabouttheIowergradeIabourTherecommendationforoverheadvarianc

14、es:trytodecreasetheadministrationcostTeachthestaffsscientificaIIyusetheseoverheadinordertomakeitlonger-used.PartBPaybackperiodmethod:YearAnuuaIcashflowCumuIative0(1,000,000)(1,000,000)1160,000(840,000)2160,000(680,000)3320,000(360,000)4320,000(40,000)5(1/8of320,000)40,000NIL5(7/8of320,000)280,000240

15、,000PaybackwiIItake4year1.5months.NetpresentVaIueAnnuaICashFIowPresentVaIueFactorsat10%PresentVaIue££££Year0(1,000,000)1.000(1,000,000)1160,0000.909145,4402160,0000.826132,1603320,0000.751240,3204320,0000.683218,5605320,0000.621198,720935,200NetPresentVaIue£(64,800)Thepremis

16、eofpaybackperiodmethodsIdentifyaIIofthecostsofinitialinvestment.AssumethattheywiIIbepaidnow.Findthecashinflowforeachproject.AddupcashflowseachyearuntiIcostofprojectcovered.Picktheprojectwiththeshortestpaybackperiod.IfthepaybackperiodisonIyoneyearthenitshouIdbecomparedwithaninternaIfigureThepremiseof

17、discountedcashflowtechniqueUncertaintydoesnotexist.ThereisnoinfIation.Theappropriatediscountratetouseisknown,toavoidunnecessarycaIcuIations.WhenundertakingDCFquestions,thediscountrateshavebeencomputedforyou,andaregiveninthediscounttabIes.UnIimitedfundscanberaisedatacompetitiverate.Analyzingpaybackpe

18、riodmethodAccordingtothepaybackperiodmethod,theoriginalcapitaIthatthecompanyinvestis£1,000,000andthereare5yearsforthecompanytogetthereturnthatisthebudgetedpaybackperiod.Accordingtotheprogram,4yearsand1.5monthsthatthecompanywiIIgetitsaIIinvestments.AttheIastyear,companywiIIgetthereturnabout£

19、;280,000.Asaresu11,basedontheperiodmethod,theprojectwiIIbeprofitableandisworthtoinvest.AnalyzingdiscountedcashflowtechniqueIfthecompanyusesthediscountedcashfIowtechnique,accordingtothepeogram,theinvestmentis£1,000,000,andthenetpresentvaIueis10%.Thebudgetedpaybackperiodis5years.After5years,theNP

20、VfortheprojectwiIIbe£-64,800.Itshowsthatthereturnislessthantheinvestment.Itwillbethelossof£64T800toinvestthisproject.SothisprojectwiIInotbeprofitableandisnotworthtoinvest.RecommendationAccordingtothetwomethods,itisnotdifficulttofindthatthecompanywouIdbettertochoosethepaybackperiodmethod.Th

21、ecompanychoosespaybackperiodmethodcouIdgettheprofitof£280,000andIess5yearscouldgettheaIIinvestment.AndforthediscountedcashfIowtechnique,itwiIIcost5yearsandIoss£64,800atIastoftheproject.So,basedontheprofit,thecompanywouIdbettertochoosethepaybackperiodmethod.ConsiderationofotherfactorsFirst,theenvironmentisonefactorthatthemanagersshouIdtoconsider.TricoImakesarangeoffurnitureandkitchenware.ItmaymakepoIIuteduringtheproducing.Ifthecompanydoesnotpayattentiontotheenvironment,itmaygetsomefine.T