《业务功能成本》PPT课件

1、Decision Making and Relevant Information,Chapter 11,Key Terms,Business Function Costs 业务功能成本 Sunk Costs 沉没成本 One-Time-Only Special Order 一次性特殊订单 Insourcing-versus-Outsourcing 自制或外包 Make-versus-Buy Decision 外购决策 Differential Cost/Revenue 差量成本/收入 Incremental Cost/Revenue 边际成本/收入 Opportunity Cost 机会成本

2、Product-Mix Decision 产品组合决策,Five-Step Decision-Making Process,A decision model is a formal method of making a choice, often involving both quantitative and qualitative analyses Five-Step Decision Making Process involves gathering information, making predictions, making a choice, acting on the choice

3、, and evaluating results.,Consider a strategic decision facing management at Precision Sporting Goods, a manufacturer of golf club: do not reorganize or reorganize( Assume that there are only two alternatives). The reorganization will eliminate all manual handling of materials. The current manufactu

4、ring labor consists of 20 workers-15 workers operate machines, and 5 workers handle materials, employee benefits will increase to $16 per hour. Each worker works 2,000 hour annually. The cost of reorganization is predicted to be $90,000 each year. The predicted production output of 25,000 units will

5、 be unaffected by the decision. Also unaffected will be the predicted selling price of $250, the direct material cost per unit of $50, manufacturing overhead of $750,000, and marketing costs of $2,000,000.,Relevant Cost Illustration,Relevance,Relevant Costs expected future costs Relevant Revenues ex

6、pected future revenues Revenues and costs that are not relevant are said to be irrelevant. Relevant Information has two characteristics: It occurs in the future It differs among the alternative courses of action Historical costs themselves are past costs that, therefore, are irrelevant to decision m

7、aking. Past costs are also called sunk costs because they are unavoidable and cannot be changed no matter what action is taken.,Qualitative and Quantitative Relevant Information,Managers divide the outcomes of decisions into two broad categories: quantitative and qualitative. Quantitative factors ar

8、e outcomes that are measured in numerical terms. Some quantitative factors are financial, they can be expressed in monetary terms (cost of direct materials, relevant cost, relevant revenue). other quantitative factors are nonfinancial, they can be measured numerically, but they are not expressed in

9、monetary terms (reduction in new product-development time for a manufacturing company ) Qualitative factors are outcomes that are difficult to measure accurately in numerical term. (employee morale) Qualitative factors and quantitative nonfinancial factors cannot be measured easily in financial term

10、s does not make them unimportant. (in fact, managers must at times give more weight to these factors),One-Time-Only Special Orders一次性特殊订单,Accepting or rejecting special orders when there is idle production capacity and the special orders has no long-run implications Decision Rule: does the special o

11、rder generate additional operating income? Yes accept No reject Compares relevant revenues and relevant costs to determine profitability,All Decision SituationsOne-Time-only Special Orders,Example：Surf Gear manufactures quality beach towels. The plant has a production capacity of 48,000 towels each

12、month. No inventory in the plant. Budgeted Income Statement for the coming month (August) are shown in next. As a result of a strike at its existing towel supplier, a luxury hotel chain has offered to buy 5,000 towels from Surf Gear in August at $11 per towel. No subsequent sales to this hotel chain

13、 are anticipated. Fixed manufacturing costs are tied to the 48,000-towel capacity. No marketing costs will be necessary for the 5,000-unit one-time-only special order. Accepting this special order is not expected to affect the selling price or the quantity of towel sold to regular customers. Should

14、Surf Gear accept the hotel chains offer?,A Starting Point: Absorption-Based Budgeted Income Statement,Potential Problems with Relevant-Cost Analysis,Avoid incorrect general assumptions about information, especially: “All variable costs are relevant and all fixed costs are irrelevant” There are notab

15、le exceptions for both costs Problems with using unit-cost data: Including irrelevant costs in error Using the same unit-cost with different output levels Fixed costs per unit change with different levels of output Continually evaluate data to ensure that it meets the requirements of relevant inform

16、ation Focus on Total Revenues and Total Costs, not their per-unit equivalents,Insourcing-versus-Outsourcing and Make-versus-Buy decisions,Outsourcing is purchasing goods and services from outside vendor rather than insourcing, which is producing the same goods or providing the same services within t

17、he organization. (assume idle capacity) Decisions about whether a producer of goods or services will insource or outsource are also called make-or-buy decisions. Decision Rule: Select the that option will provide the firm with the lowest cost, and therefore the highest profit.,Make-or-Buy Illustrati

18、on,Terminology,Incremental Cost the additional total cost incurred for an activity Differential Cost the difference in total cost between two alternatives Note that incremental cost and differential cost are sometimes used interchangeably in practice. Incremental Revenue the additional total revenue

19、 from an activity Differential Revenue the difference in total revenue between two alternatives,Strategic and Qualitative Factors,Strategic and qualitative factors affect outsourcing decisions. For example, Soho may prefer to manufacture CD player in-house to retain control over the design, quality,

20、 reliability, and delivery schedules of the CD players it uses in its stereos. Conversely, despite the cost advantages documented before, Soho may prefer to outsource, focus on areas of its core competencies-the manufacture and sale of stereos. Outsourcing is not without risks. Outsourcing decisions

21、 invariably have a long-run horizon in which the financial costs and benefits of outsourcing become more uncertain.,Opportunity Costs and Outsourcing,In the last example, we assumed that the capacity currently used to make CD players will remain idle if Soho purchases the parts from the outside manu

22、facture. Often, however, the released capacity can be used for other, more-profitable purposes. Then, the choice Sohos managers are faced with is not whether to make or buy. It is how best to use available production capacity.,Make-or-Buy Illustration, Extended,Opportunity Costs,Panel B highlights t

23、he idea that when capacity is constrained, the relevant revenues and costs of any alternative equal the incremental future revenues and costs plus the opportunity cost. Opportunity Cost is the contribution to operating income that is foregone by not using a limited resource in its next-best alternat

24、ive use “How much profit did the firm lose out on by not selecting this alternative?” Opportunity costs are not incorporated into formal financial accounting records. Because historical record keeping is limited to transactions involving alternatives that were actually selected, rather than alternat

25、ives that were rejected.,Carrying Cost of Inventory: Opportunity Costs,Special type of Opportunity Cost: Holding Cost for Inventory. Funds tied up in inventory are not available for investment elsewhere,Product-Mix Decisions with Capacity Constraints,The decisions made by a company about which produ

26、cts to sell and in what quantities Decision Rule (with a constraint): choose the product that produces the highest contribution margin per unit of the constraining resource These decisions usually have only a short-run focus because the level of capacity can be expanded in the long run. Example: Pow

27、er Recreation assembles two engines-a snowmobile engine and a boat engine,Assume that only 600 machine-hours are available daily for assembling engines. Power Recreation can sell as many as engines as it produces. It takes two machine-hours to produce one snowmobile engine and five machine-hours to

28、produce one boat engine.,Exercise,Inventory decision, opportunity costs. Lawnox, a manufacturer of lawn mowers, predicts that it will purchase 240,000 spark plugs next year. Lawnox estimates that 20,000 spark plugs will be required each month. A supplier quotes a price of $9 per spark plug. The supp

29、lier also offers a special discount option: If all 240,000 spark plugs are purchased at the start of the year, a discount of 4% off the $9 price will be given. Lawnox can invest its cash at 10% per year. It costs Lawnox $200 to place each purchase order. What is the opportunity cost of interest forg

30、one from purchasing all 240,000 units at the start of the year instead of in 12 monthly purchases of 20,000 units per order? Should Lawnox purchase 240,000 spark plugs at the start of the year or 20,000 spark plugs each month, show your calculation?,Unit cost, orders of 20,000$9.00 Unit cost, order

31、of 240,000 (0.96 $9.00)$8.64 Alternatives under consideration: (a) Buy 240,000 units at start of year. (b) Buy 20,000 units at start of each month. Average investment in inventory: (a) (240,000 $8.64) 2 $1, 036,800 (b)( 20,000 $9.00) 2 90,000 Difference in average investment $ 946,800 Opportunity co

32、st of interest forgone from 240,000-unit purchase at start of year = $946,800 0.10 = $94,680,Should Lawnox purchase 240,000 units at the start of the year or 20,000 units each month?,Column (3) indicates that purchasing 20,000 spark plugs at the beginning of each month is preferred relative to purch

33、asing 240,000 spark plugs at the beginning of the year because the opportunity cost of holding larger inventory exceeds the lower purchasing and ordering costs.,If other incremental benefits of holding lower inventory such as lower insurance, materials handling, storage, obsolescence, and breakage c

34、osts were considered, the costs under Alternative A would have been higher, and Alternative B would be preferred even more.,Exercise,Selection of most profitable product Body-Builders, Inc., produces two basic types of weightlifting equipment, Model 9 and Model 14. The weight-lifting craze is such t

35、hat enough of either Model 9 or Model 14 can be sold to keep the plant operating at full capacity. Both products are processed through the same production departments. Which products should be produced?,Pertinent data,Only Model 14 should be produced. Management should choose the product mix that ma

36、ximizes operating income for a given production capacity (the scarce resource in this situation).,Notice Model 14 will yield a $9.50 contribution to fixed costs per machine hour, and Model 9 will yield $9.00,Adding or Dropping Customers,Similarly, if the cost object is a customer, companies must mak

37、e decisions about adding or dropping customers or a branch office. Decision Rule: Does adding or dropping a customer add operating income to the firm? Yes add or dont drop No drop or dont add Decision is based on profitability of the customer, not how much revenue a customer generates,Example,Allied

38、 West, the West Coast sales office of Allied Furniture, a wholesaler of specialized furniture, supplies furniture to three local retailers: Vogel, Brenner, and Wisk. Next pictures show expected revenues and costs of Allied West by customer for the upcoming year. Note that there is no opportunity cos

39、t of using warehouse space for retailers . Should Allied West drop the Wisk account? Should it add a fourth customer , Loral? Should Allied Furniture close down Allied West? Should it open another sales office, Allied South, whose revenues and costs are identical to those of Allied West?,Customer Pr

40、ofitability Analysis, Illustrated,Customer Profitability Analysis, Extended,Suppose Allied Wests managers are evaluating the profitability of adding a customer Loral. Allied West is already incurring annual costs of $36,000 for warehouse rent and $48,000 for general-administration costs. These costs

41、 together with actual total corporate-office costs will not change if Loral is added as a customer. Loral has a customer profile much like Wisks. In particular, Allied West would have to acquire furniture-handling equipment for the Loral costing $9,000,Adding or Dropping Customers,Note: Depreciation

42、 cost is irrelevant in deciding whether to drop Wisk as a customer because depreciation is a past cost, but the cost of purchasing new equipment that will then be written off as depreciation in the future is relevant in deciding whether to add Loral as a customer.,Adding or Discontinuing Branches or

43、 Segments,Decision Rule: Does adding or discontinuing a branch or segment add operating income to the firm? Yes add or dont discontinue No discontinue or dont add Decision is based on profitability of the branch or segment, not how much revenue the branch or segment generates Assume that closing All

44、ied West or Opening Allied South will have no effect on total corporate-office costs.,Adding/Closing Offices or Segments, Illustrated,Equipment-Replacement Decisions,Sometimes difficult due to amount of information at hand that is irrelevant: Cost, Accumulated Depreciation and Book Value of existing

45、 equipment Any potential Gain or Loss on the transaction a Financial Accounting phenomenon only Decision Rule: Select the alternative that will generate the highest operating income,Example,Toledo company is considering replacing a metal-cutting machine a newer model.,Equipment-Replacement Decisions

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