管理会计ch12.docx
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管理会计ch12.docx
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管理会计ch12
CHAPTER12
PRICINGDECISIONSANDCOSTMANAGEMENT
12-1Thethreemajorinfluencesonpricingdecisionsare
1.Customers
2.Competitors
3.Costs
12-2Notnecessarily.Foraone-time-onlyspecialorder,therelevantcostsareonlythosecoststhatwillchangeasaresultofacceptingtheorder.Inthiscase,fullproductcostswillrarelyberelevant.Itismorelikelythatfullproductcostswillberelevantcostsforlong-runpricingdecisions.
12-3Twoexamplesofpricingdecisionswithashort-runfocus:
1.Pricingforaone-time-onlyspecialorderwithnolong-termimplications.
2.Adjustingproductmixandvolumeinacompetitivemarket.
12-4Activity-basedcostinghelpsmanagersinpricingdecisionsintwoways.
1.Itgivesmanagersmoreaccurateproduct-costinformationformakingpricingdecisions.
2.Ithelpsmanagerstomanagecostsduringvalueengineeringbyidentifyingthecostimpactofeliminating,reducing,orchangingvariousactivities.
12-5Twoalternativestartingpointsforlong-runpricingdecisionsare
1.Market-basedpricing,animportantformofwhichistargetpricing.Themarket-basedapproachasks,“Givenwhatourcustomerswantandhowourcompetitorswillreacttowhatwedo,whatpriceshouldwecharge?
”
2.Cost-basedpricingwhichasks,“Whatdoesitcostustomakethisproductand,hence,whatpriceshouldwechargethatwillrecoupourcostsandachieveatargetreturnoninvestment?
”
12-6Atargetcostperunitistheestimatedlong-runcostperunitofaproduct(orservice)that,whensoldatthetargetprice,enablesthecompanytoachievethetargetedoperatingincomeperunit.
12-7Valueengineeringisasystematicevaluationofallaspectsofthevalue-chainbusinessfunctions,withtheobjectiveofreducingcostswhilesatisfyingcustomerneeds.Valueengineeringviaimprovementinproductandprocessdesignsisaprincipaltechniquethatcompaniesusetoachievetargetcostsperunit.
12-8Avalue-addedcostisacostthatcustomersperceiveasaddingvalue,orutility,toaproductorservice.Examplesarecostsofmaterials,directlabor,tools,andmachinery.Anonvalue-addedcostisacostthatcustomersdonotperceiveasaddingvalue,orutility,toaproductorservice.Examplesofnonvalue-addedcostsarecostsofrework,scrap,expediting,andbreakdownmaintenance.
12-9Costincurrencedescribeswhenaresourceisconsumed(orbenefitforgone)tomeetaspecificobjective.Locked-incosts,ordesignedincosts,arecoststhathavenotyetbeenincurredbut,basedondecisionsthathavealreadybeenmade,willbeincurredinthefuture.
12-10Cost-pluspricingisapricingapproachinwhichmanagersaddamarkuptocostinordertodetermineprice.
12-11Cost-pluspricingmethodsvarydependingonthebasesusedtocalculateprices.Examplesare(a)variablemanufacturingcosts;(b)manufacturingfunctioncosts;(c)variableproductcosts;and(d)fullproductcosts.
12-12Twoexampleswherethedifferenceinthecostsoftwoproductsorservicesismuchsmallerthanthedifferencesintheirpricesfollow:
1.Thedifferenceinpriceschargedforatelephonecall,hotelroom,orcarrentalduringbusyversusslackperiodsisoftenmuchgreaterthanthedifferenceincoststoprovidetheseservices.
2.Thedifferenceincostsforanairplaneseatsoldtoapassengertravelingonbusinessorapassengertravelingforpleasureisroughlythesame.However,airlinecompaniespricediscriminate.Theyroutinelychargebusinesstravelers––thosewhoarelikelytostartandcompletetheirtravelduringthesameweekexcludingtheweekend––amuchhigherpricethanpleasuretravelerswhogenerallystayattheirdestinationsoveratleastoneweekend.
12-13No.Life-cyclebudgetingisanestimateoftherevenuesandcostsattributabletoeachproductfromitsinitialR&Dtoitsfinalcustomerservicingandsupport.
12-14Threebenefitsofusingaproductlife-cyclereportingformatare:
1.Thefullsetofrevenuesandcostsassociatedwitheachproductbecomesmorevisible.
2.Differencesamongproductsinthepercentageoftotalcostscommittedatearlystagesinthelifecyclearehighlighted.
3.Interrelationshipsamongbusinessfunctioncostcategoriesarehighlighted.
12-15Predatorypricingoccurswhenabusinessdeliberatelypricesbelowitscostsinanefforttodrivecompetitorsoutofthemarketandrestrictsupply,andthenraisespricesratherthanenlargedemand.UnderU.S.laws,dumpingoccurswhenanon-U.S.companysellsaproductintheUnitedStatesatapricebelowthemarketvalueinthecountrywhereitisproduced,andthislowerpricemateriallyinjuresorthreatenstomateriallyinjureanindustryintheUnitedStates.Collusivepricingoccurswhencompaniesinanindustryconspireintheirpricingandproductiondecisionstoachieveapriceabovethecompetitivepriceandsorestraintrade.
12-16(20–30min.)Relevant-costapproachtopricingdecisions,specialorder.
1.Relevantrevenues,$4.001,000$4,000
Relevantcosts
Directmaterials,$1.601,000$1,600
Directmanufacturinglabor,$0.901,000900
Variablemanufacturingoverhead,$0.701,000700
Variablesellingcosts,0.05$4,000200
Totalrelevantcosts3,400
Increaseinoperatingincome$600
Thiscalculationassumesthat:
a.Themonthlyfixedmanufacturingoverheadof$150,000and$65,000ofmonthlyfixedmarketingcostswillbeunchangedbyacceptanceofthe1,000unitorder.
b.Thepricechargedandthevolumessoldtoothercustomersarenotaffectedbythe
specialorder.
Chapter12usesthephrase“one-time-onlyspecialorder”todescribethisspecialcase.
2.Thepresident’sreasoningisdefectiveonatleasttwocounts:
a.Theinclusionofirrelevantcosts––assumingthemonthlyfixedmanufacturingoverheadof$150,000willbeunchanged;itisirrelevanttothedecision.
b.Theexclusionofrelevantcosts––variablesellingcosts(5%ofthesellingprice)areexcluded.
3.Keyissuesare:
a.Willtheexistingcustomerbasedemandpricereductions?
Ifthis1,000-tapeorderisnotindependentofothersales,cuttingthepricefrom$5.00to$4.00canhavealargenegativeeffectontotalrevenues.
b.Isthe1,000-tapeorderaone-time-onlyorder,oristherethepossibilityofsalesinsubsequentmonths?
ThefactthatthecustomerisnotinDillCompany’s“normalmarketingchannels”doesnotnecessarilymeanitisaone-time-onlyorder.Indeed,thesalecouldwellopenanewmarketingchannel.DillCompanyshouldbereluctanttoconsideronlyshort-runvariablecostsforpricinglong-runbusiness.
12-17(20–30min.)Relevant-costapproachtoshort-runpricingdecisions.
1.Analysisofspecialorder:
Sales,2,500units$80$200,000
Variablecosts:
Directmaterials,2,500units$40$100,000
Directmanufacturinglabor,2,500units$1537,500
Variablemanufacturingoverhead,2,500units$512,500
Othervariablecosts,2,500units$410,000
Salescommission7,000
Totalvariablecosts167,000
Contributionmargin$33,000
Notethatthevariablecosts,exceptforcommissions,areaffectedbyproductionvolume,notsalesdollars.
Ifthespecialorderisaccepted,operatingincomewouldbe$700,000+$33,000=$733,000.
2.WhetherFontaine’sdecisiontoquotefullpriceiscorrectdependsonmanyfactors.Heisincorrectifthecapacitywouldotherwisebeidleandifhisobjectiveistoincreaseoperatingincomeintheshortrun.Iftheofferisrejected,Regis,ineffect,iswillingtoinvest$3,000inimmediategainsforgone(anopportunitycost)topreservethelong-runselling-pricestructure.FontaineiscorrectifhethinksfuturecompetitionorfuturepriceconcessionstocustomerswillhurtRegis’soperatingincomebymorethan$33,000.ThereisalsothepossibilitythatAdamscouldbecomealong-termcustomer.Inthiscase,isapricethatcoversonlyshort-runvariablecostsadequate?
WouldHayesbewillingtoaccepta$7,000salescommission(asdistinguishedfromherregular$30,000=15%$200,000)foreveryAdamsorderofthissizeifAdamsbecomesalong-termcustomer?
12-18(15–20min.)Short-runpricing,capacityconstraints.
1.Perkilogramofhardcheese:
Milk(10liters
$1.50perliter)
$15
Directmanufacturinglabor
5
Variablemanufacturingoverhead
3
Fixedmanufacturingcostallocated
6
Totalmanufacturingcost
$29
IfVermontHillscangetalltheHolsteinmilkitneeds,andhassufficientproductioncapacity,then,theminimumpriceperkiloitshouldchargeforthehardcheeseisthevariablecostperkilo=$15+5+3=$23perkilo.
2.Ifmilkisinshortsupply,theneachkiloofhardcheesedisplaces2.5kilosofsoftcheese(10litersofmilkperkiloofhardcheeseversus4litersofmilkperkiloofsoftcheese).Then,forthehardcheese,theminimumpriceVermontshouldchargeisthevariablecostperkiloofhardcheeseplusthecontributionmarginfrom2.5kilosofsoftcheese,or,
$23+(2.5
$8perkilo)=$43perkilo
Thatis,ifmilkisinshortsupply,Vermontshouldnotagreetoproduceanyhardcheeseunlessthebuyeriswillingtopayatleast$43perkilo.
12-19(25–30min.)Value-added,nonvalue-addedcosts.
1.
Category
Examples
Value-addedcosts
a.Materialsandlaborforregularrepairs
$2,500,000
Nonvalue-addedcosts
b.Reworkcosts
c.Expeditingcostscausedbyworkdelays
g.Breakdownmaintenanceofequipment
Total
$170,000
165,000
160,000
$495,000
Grayarea
d.Materialshandlingcosts
e.Materialsprocurementandinspectioncosts
f.Preventivemaintenanceofequipment
Total
$150,000
130,000
110,000
$390,000
Classificationsofvalue-added,nonvalue-added,andgrayareacostsareoftennotclear-cut.Otherclassificationsofsomeofthecostcategoriesarea
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