第2题
Notes
1 Variable production costs would be $12 per unit for production volumes up to and including 100,000 units each year. However, if production exceeds 100,000 units each year, the variable production cost per unit would fall to $11 for all units produced.
2 Advertising costs would be $900,000 per annum at a selling price of $30 and $970,000 per annum at a price of $35.
3 Fixed production costs would be $450,000 per annum.
Required:
(a) Calculate each of the six possible profit outcomes which could arise for Gam Co in the coming year. (8 marks)
(b) Calculate the expected value of profit for each of the two price options and recommend, on this basis, which option Gam Co would choose. (3 marks)
(c) Briefly explain the maximin decision rule and identify which price should be chosen by management if they use this rule to decide which price should be charged. (3 marks)
(d) Discuss the factors which may give rise to uncertainty when setting budgets. (6 marks)
第3题
Per unit($)
Total($)
Direct material costs
l 50
30 000
Direct labor costs
80
1 6 000
Variable production overheads
50
1 0 000
Variable selling and administration overheads
30
6 000
Fixed production overheads
6 000
Fixed selling and administration overheads
3 000
Requirement:
A.Calculate the total contribution margin.
B.Calculate the amounts of profit at the budgeted level of production.
C.Calculate the break-even point in units and the margin of safety.
D.If M company desires a profit of$4 800,calculate the number of units that it must produce and sell.
第4题
The following notes are relevant:
(i) On 1 October 2011, Quincy sold one of its products for $10 million (included in revenue in the trial balance). As part of the sale agreement, Quincy is committed to the ongoing servicing of this product until 30 September 2014 (i.e. three years from the date of sale). The value of this service has been included in the selling price of $10 million. The estimated cost to Quincy of the servicing is $600,000 per annum and Quincy’s normal gross profit margin on this type of servicing is 25%. Ignore discounting.
(ii) Quincy issued a $25 million 6% loan note on 1 October 2011. Issue costs were $1 million and these have been charged to administrative expenses. The loan will be redeemed on 30 September 2014 at a premium which gives an effective interest rate on the loan of 8%.
(iii) Quincy paid an equity dividend of 8 cents per share during the year ended 30 September 2012.
(iv) Non-current assets:
Quincy had been carrying land and buildings at depreciated cost, but due to a recent rise in property prices, it decided to revalue its property on 1 October 2011 to market value. An independent valuer confirmed the value of the property at $60 million (land element $12 million) as at that date and the directors accepted this valuation. The property had a remaining life of 16 years at the date of its revaluation. Quincy will make a transfer from the revaluation reserve to retained earnings in respect of the realisation of the revaluation reserve. Ignore deferred tax on the revaluation.
Plant and equipment is depreciated at 15% per annum using the reducing balance method.
No depreciation has yet been charged on any non-current asset for the year ended 30 September 2012. All depreciation is charged to cost of sales.
(v) The investments had a fair value of $15·7 million as at 30 September 2012. There were no acquisitions or disposals of these investments during the year ended 30 September 2012.
(vi) The balance on current tax represents the under/over provision of the tax liability for the year ended 30 September 2011. A provision for income tax for the year ended 30 September 2012 of $7·4 million is required. At 30 September 2012, Quincy had taxable temporary differences of $5 million, requiring a provision for deferred tax. Any deferred tax adjustment should be reported in the income statement. The income tax rate of Quincy is 20%.
Required:
(a) Prepare the statement of comprehensive income for Quincy for the year ended 30 September 2012.
(b) Prepare the statement of changes in equity for Quincy for the year ended 30 September 2012.
(c) Prepare the statement of financial position for Quincy as at 30 September 2012. Notes to the financial statements are not required.
The following mark allocation is provided as guidance for this question:
(a) 11 marks
(b) 4 marks
(c) 10 marks
第5题
A.It"s a non-profit organization that researches on birds in Britain.
B.It"s a charity which protects and offers shelters to birds in Britain.
C.It implies birds prefer living in southern part to northern part in Britain.
D.Every 20 years it draws a detailed picture of bird population in the world.
第6题
A、净利润
B、利润总额
C、利润
D、营业利润
第7题
clients as well as to other divisions within the group. Consultants always work in teams of two on every consulting
day. Each consulting day is charged to external clients at £750 which represents cost plus 150% profit mark up. The
total cost per consulting day has been estimated as being 80% variable and 20% fixed.
The director of the Human Resources (HR) division of RJ Business Consulting Group has requested the services of
two teams of consultants from the IT division on five days per week for a period of 48 weeks, and has suggested that
she meets with the director of the IT division in order to negotiate a transfer price. The director of the IT division has
responded by stating that he is aware of the limitations of using negotiated transfer prices and intends to charge the
HR division £750 per consulting day.
The IT division always uses ‘state of the art’ video-conferencing equipment on all internal consultations which would
reduce the variable costs by £50 per consulting day. Note: this equipment can only be used when providing internal
consultations.
Required:
(a) Calculate and discuss the transfer prices per consulting day at which the IT division should provide
consulting services to the HR division in order to ensure that the profit of the RJ Business Consulting Group
is maximised in each of the following situations:
(i) Every pair of consultants in the IT division is 100% utilised during the required 48-week period in
providing consulting services to external clients, i.e. there is no spare capacity.
(ii) There is one team of consultants who, being free from other commitments, would be available to
undertake the provision of services to the HR division during the required 48-week period. All other
teams of consultants would be 100% utilised in providing consulting services to external clients.
(iii) A major client has offered to pay the IT division £264,000 for the services of two teams of consultants
during the required 48-week period.
(12 marks)
第8题
The services of the new partnership are provided mainly to ______.
A.mothers of infected babies.
B.infected children and women.
C.infected children in cities.
D.infected women in cities.
第9题
included the following figures:
$
Profit 684,000
Closing inventory 116,800
Trade receivables 248,000
Allowance for receivables 10,000
No adjustments have yet been made for the following matters:
(1) The company’s inventory count was carried out on 3 January 2006 leading to the figure shown above. Sales
between the close of business on 31 December 2005 and the inventory count totalled $36,000. There were no
deliveries from suppliers in that period. The company fixes selling prices to produce a 40% gross profit on sales.
The $36,000 sales were included in the sales records in January 2006.
(2) $10,000 of goods supplied on sale or return terms in December 2005 have been included as sales and
receivables. They had cost $6,000. On 10 January 2006 the customer returned the goods in good condition.
(3) Goods included in inventory at cost $18,000 were sold in January 2006 for $13,500. Selling expenses were
$500.
(4) $8,000 of trade receivables are to be written off.
(5) The allowance for receivables is to be adjusted to the equivalent of 5% of the trade receivables after allowing for
the above matters, based on past experience.
Required:
(a) Prepare a statement showing the effect of the adjustments on the company’s net profit for the year ended
31 December 2005. (5 marks)
第10题
made by the bosses. Secretaries have been abolished. The assembly line has
been abandoned, as has economies of scale like buying components in bulk. A 【M2】 ______
quarter of employers fix their own salaries and soon everyone will. The workers【M3】 ______
decide how many of the profits to share and how much to invest. Many of the 【M4】 ______
rest are discouraged to work from or set up their own small companies. Em- 【M5】 ______
ployees reorganize their factories and choose new sites for development. Cen-
tral computers have been forgotten along with rows of unnecessary filing cabi-
nets. Memos must be confined in one page. There are no controls over expert- 【M6】 ______
ses or business travel. There is a reception desk, and no receptionist. The 【M7】 ______
boss doesn't even have his own desk and has to make his own tea.
The company, Semco, is located in Sao Paulo, Brazil, makes pumps, 【M8】 ______
dishwashers and cooling units. It has been crawled over by the media and
hundred of curious corporations including 150 of the Fortune top 500 compa- 【M9】 ______
nies in the US. Semco has increased profits fivefold to nearly $ 3 million on
sales approaching $ 30 million. It exports 23 percent of output. Productively
has risen sevenfold and the company was free of debt. 【M10】 ______
【M1】
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