编制和分析管会计信息.docx
COMMERCE DEPARTMENTINTERNATIONAL PROGRAMSDIPLOMA OF FINANCIAL SERVICES(FNS50107)PREPARE AND ANALYSE MANAGEMENT ACCOUNTING INFORMATION(FNSACCT613B)Answers to exercisesSOLUTIONS TO EXERCISESUnit One Variable and Absorption Costing1.1a) Unit cost of production AbsorptionDirect materials$150,000 ÷ 100,000 units= $1.50 / unitDirect labour$200,000 ÷ 100,000 units= $2.00 / unitVariable overhead$ 50,000 ÷ 100,000 units= $0.50 / unitFixed overhead$100,000 ÷ 100,000 units= $1.00 / unit $5.00 / unitb) Unit cost of production VariableDirect materials$150,000 ÷ 100,000 units= $1.50 / unitDirect labour$200,000 ÷ 100,000 units= $2.00 / unitVariable overhead$ 50,000 ÷ 100,000 units= $0.50 / unit $4.00 / unitc) Closing inventory Absorption20,000 units x $5.00= $100,000d) Closing inventory Variable20,000 units x $4.00= $80,000_1.2a) Opening inventory Absorption5,000 units x $2.40= $12,000b) Closing inventory Absorption30,000 units x $2.40= $72,000c) Opening inventory Variable5,000 units x $2.00= $10,000d) Closing inventory Variable30,000 units x $2.00= $60,000_1.3a) Income Statement for month ended 30th April Absorption Costing$Sales (40,000 units x $22)880,000Less COGS: Opening inventoryNil Production costs: Direct materials(40,000 units x $5) 200,000 Direct labour(40,000 units x $4)160,000 Variable overhead(40,000 units x $1)40,000 Fixed overhead(40,000 units x $2)80,000480,000480,000 Less closing inventory Nil480,000Gross Profit400,000Less other expenses: Fixed selling & administration150,000 Variable selling & administration (40,000 units x $3)120,000270,000Net Profit130,000Income statement for month ended 31st May Absorption costing$Sales (40,000 units x $22)880,000Less COGS: Opening inventoryNil Production costs: Direct materials(45,000 units x $5) 225,000 Direct labour(45,000 units x $4)180,000 Variable overhead(45,000 units x $1)45,000 Fixed overhead(45,000 units x $2)90,000540,000540,000 Less volume variance10,000530,000 Less closing inventory (5,000 units x $12)60,000470,000Gross Profit410,000Less other expenses: Fixed selling & administration150,000 Variable selling & administration (40,000 units x $3)120,000270,000Net Profit140,000Income statement for month ended 30tth June Absorption costing$Sales (38,000 units x $22)836,000Less COGS: Opening inventory (5,000 units x $12)60,000 Production costs: Direct materials(35,000 units x $5) 175,000 Direct labour(35,000 units x $4)140,000 Variable overhead(35,000 units x $1)35,000 Fixed overhead(35,000 units x $2)70,000420,000480,000 Plus volume variance10,000490,000 Less closing inventory (2,000 units x $12)24,000466,000Gross Profit370,000Less other expenses: Fixed selling & administration150,000 Variable selling & administration (38,000 units x $3)114,000264,000Net Profit106,000b) Income Statement for month ended 30th April Variable Costing$Sales (40,000 units x $22)880,000Less Variable COGS: Opening inventoryNil Variable production costs: Direct materials(40,000 units x $5)200,000 Direct labour(40,000 units x $4)160,000 Variable overhead(40,000 units x $1)40,000400,000400,000Less closing inventory Nil400,000Gross Margin480,000Less other variable expenses: Variable selling & administration (40,000 units x $3)120,000Net Contribution Margin360,000Less fixed expenses: Fixed overhead80,000 Fixed selling & administration150,000230,000Net Profit130,0001.3 b) continuedIncome Statement for month ended 31st May Variable Costing$Sales (40,000 units x $22)880,000Less Variable COGS: Opening inventoryNil Variable production costs: Direct materials(45,000 units x $5)225,000 Direct labour(45,000 units x $4)180,000 Variable overhead(45,000 units x $1)45,000450,000450,000Less closing inventory (5,000 x $10)50,000400,000Gross Margin480,000Less other variable expenses: Variable selling & administration (40,000 units x $3)120,000Net Contribution Margin360,000Less fixed expenses: Fixed overhead80,000 Fixed selling & administration150,000230,000Net Profit130,000Income Statement for month ended 30th June Variable Costing$Sales (38,000 units x $22)836,000Less Variable COGS: Opening inventory (5,000 units x $10)50,000 Variable production costs: Direct materials(35,000 units x $5)175,000 Direct labour(35,000 units x $4)140,000 Variable overhead(35,000 units x $1)35,000350,000400,000Less closing inventory (2,000 x $10)20,000380,000Gross Margin456,000Less other variable expenses: Variable selling & administration (38,000 units x $3)114,000Net Contribution Margin342,000Less fixed expenses: Fixed overhead80,000 Fixed selling & administration150,000230,000Net Profit112,000_1.4a) Income statement for Year 1 Absorption costing$Sales (55,000 units x $30)1,650,000Less COGS: Opening inventory (10,000 units x $15)150,000 Production costs: Direct materials(60,000 units x $4) 240,000 Direct labour(60,000 units x $6)360,000 Variable overhead(60,000 units x $4)240,000 Fixed overhead(60,000 units x $1)60,000900,0001,050,000 Less volume variance10,0001,040,000 Less closing inventory (15,000 units x $15)225,000815,000Gross Profit835,000Less other expenses: Variable selling (55,000 x $1)55,000 Variable administration (60,000 x $2)120,000 Fixed selling25,000 Fixed administration15,000215,000Net Profit620,000Income Statement for Year 2 Absorption Costing$Sales (55,000 units x $30)1,650,000Less COGS: Opening inventory (15,000 units x $15)225,000 Production costs: Direct materials(50,000 units x $4) 200,000 Direct labour(50,000 units x $6)300,000 Variable overhead(50,000 units x $4)200,000 Fixed overhead(50,000 units x $1)50,000750,000975,000 Less closing inventory (10,000 units x $15)150,000825,000Gross Profit825,000Less other expenses: Variable selling (55,000 x $1)55,000 Variable administration (50,000 x $2)100,000 Fixed selling25,000 Fixed administration15,000195,000Net Profit630,0001.4 continuedb) Income Statement for Year 1 Variable Costing$Sales (55,000 units x $30)1,650,000Less Variable COGS: Opening inventory (10,000 units x $14)140,000 Variable production costs: Direct materials(60,000 units x $4)240,000 Direct labour(60,000 units x $6)360,000 Variable overhead(60,000 units x $4)240,000840,000980,000Less closing inventory (15,000 x $14)210,000770,000Gross Margin880,000Less other variable expenses: Variable selling (55,000 units x $1)55,000 Variable administration (60,000 x $2)120,000175,000Net Contribution Margin705,000Less fixed expenses: Fixed overhead50,000 Fixed selling 25,000 Fixed administration15,00090,000Net Profit615,000Income Statement for year 2 Variable Costing$Sales (55,000 units x $30)1,650,000Less Variable COGS: Opening inventory (15,000 units x $14)210,000 Variable production costs: Direct materials(50,000 units x $4)200,000 Direct labour(50,000 units x $6)300,000 Variable overhead(50,000 units x $4)200,000700,000910,000Less closing inventory (10,000 x $14)140,000770,000Gross Margin880,000Less other variable expenses: Variable selling (55,000 units x $1)55,000 Variable administration (50,000 x $2)100,000155,000Net Contribution Margin725,000Less fixed expenses: Fixed overhead50,000 Fixed selling 25,000 Fixed administration15,00090,000Net Profit635,000_1.5Reconciliation of profits AprilProfit Absorption$130,000Add fixed overhead component of opening stock -Less fixed overhead component of closing stock( - )Profit Variable$130,000Reconciliation of profits MayProfit Absorption$140,000Add fixed overhead component of opening stock -$140,000Less fixed overhead component of closing stock(5,000 units x $2)$ 10,000Profit Variable$130,000Reconciliation of profits JuneProfit Absorption$106,000Add fixed overhead component of opening stock(5,000 units x $2)$ 10,000$116,000Less fixed overhead component of closing stock(2,000 units x $2)$ 4,000Profit Variable$112,000_1.6Reconciliation of profits Year 1Profit Absorption$620,000Add fixed overhead component of opening stock(10,000 units x $1)$ 10,000$630,000Less fixed overhead component of closing stock(15,000 units x $1)$ 15,000Profit Variable$615,000Reconciliation of profits Year 2Profit Absorption$630,000Add fixed overhead component of opening stock(15,000 units x $1)$ 15,000$645,000Less fixed overhead component of closing stock(10,000 units x $1)$ 10,000Profit Variable$635,000_1.7a) Income statement for Year 1 Absorption costing$Sales (2,100 units x $1,000)2,100,000Less COGS: Opening inventory (400 units x $600)240,000 Production costs: Direct materials(2,200 units x $200) 440,000 Direct labour(2,200 units x $240)528,000 Variable overhead(2,200 units x $100)220,000 Fixed overhead(2,200 units x $ 60)132,0001.320,0001,560,000 Plus volume variance12,0001,572,000 Less closing inventory (500 units x $600)300,0001,272,000Gross Profit828,000Less other expenses: Variable selling & admin. (2,100 x $10)21,000 Fixed selling & admin.160,000181,000Net Profit647,000Income Statement for Year 2 Absorption Costing$Sales (2,300 units x $1,000)2,300,000Less COGS: Opening inventory (500 units x $600)300,000 Production costs: Direct materials(2,500 units x $200) 500,000 Direct labour(2,500 units x $240)600,000 Variable overhead(2,500 units x $100)250,000 Fixed overhead(2,500 units x $60)150,0001,500,0001,800,000 Less volume variance6,0001,794,000 Less closing inventory (700 units x $600)420,0001,374,000Gross Profit926,000Less other expenses: Variable selling & admin. (2,300 units x $10)23,000 Fixed selling & admin.160,000183,000Net Profit743,0001.7 continuedb) Income Statement for Year 1 Variable Costing$Sales (2,100 units x $1,000)2,100,000Less Variable COGS: Opening inventory (400 units x $540)216,000 Variable production costs: Direct materials(2,200 units x $200)440,000 Direct labour(2,200 units x $240)528,000 Variable overhead(2,200 units x $100)220,0001,188,0001,404,000Less closing inventory (500 x $540)270,0001,134,000Gross Margin966,000Less other variable expenses: Variable selling & admin. (2,100 units x $10)21,000Net Contribution Margin945,000Less fixed expenses: Fixed overhead144,000 Fixed selling 160,000304,000Net Profit641,000Income Statement Year 2 Variable$Sales (2,300 units x $1,000)2,300,000Less Variable COGS: Opening inventory (500 units x $540)270,000 Variable production costs: Direct materials(2,500 units x $200)500,000 Direct labour(2,500 units x $240)600,000 Variable overhead(2,500 units x $100)250,0001,350,0001,620,000Less closing inventory (700 x $540)378,0001,242,000Gross Margin1,058,000Less other variable expenses: Variable selling & admin. (2,300 units x $10)23,000Net Contribution Margin1,035,000Less fixed expenses: Fixed overhead144,000 Fixed selling 160,000304,000Net Profit731,000c)Reconciliation of profits Year 1Profit Absorption$647,000Add fixed overhead component of opening stock(400 units x $60)$ 24,000$671,000Less fixed overhead component of closing stock(500 units x $60)$ 30,000Profit Variable$641,000Reconciliation of profits Year 2Profit Absorption$743,000Add fixed overhead component of opening stock(500 units x $60)$ 30,000$773,000Less fixed overhead component of closing stock
