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managerial accounting chap 5

managerial accounting chap 5

© All Rights Reserved

- Project Report On
- Leverage
- Chapter 5 Cvp
- GA_3- Break-even Analysis for Markstrat
- BUS 310 - Exam 2
- ACCT 301 Midterm (3 Different Versions)
- Car Wash Marketing Plan
- Microbrewery Business Plan
- Inventory Control Software Business Plan
- Fsc
- Business Plan
- Budgeting Problem Set Solution
- Investor Presentation Template
- Capital Structure
- Hotel Bussiness Plan
- Repetition
- Leverage
- FM
- Real Estate Management Business Plan
- Analysis and Data Interpretation

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Chapter 5

PowerPoint Authors:

Susan Coomer Galbreath, Ph.D., CPA

Charles W. Caldwell, D.B.A., CMA

Jon A. Booker, Ph.D., CPA, CIA

Cynthia J. Rooney, Ph.D., CPA

Copyright2015McGrawHillEducation.Allrightsreserved.NoreproductionordistributionwithoutthepriorwrittenconsentofMcGrawHillEducation.

5-2

1. Selling price is constant.

2. Costs are linear and can be accurately

divided into variable (constant per unit) and

fixed (constant in total) elements.

3. In multiproduct companies, the sales mix is

constant.

4. In manufacturing companies, inventories do

not change (units produced = units sold).

5-3

Learning Objective 1

activity affect

contribution margin and

net operating income.

5-4

The contribution income statement is helpful to managers

in judging the impact on profits of changes in selling price,

cost, or volume. The emphasis is on cost behavior.

sales revenue after variable expenses have been deducted.

5-5

CM is used first to cover fixed expenses.

Any remaining CM contributes to net operating income.

5-6

Sales, variable expenses, and contribution margin

can also be expressed on a per unit basis. If Racing

sells an additional bicycle, $200 additional CM will

be generated to cover fixed expenses and profit.

5-7

Each month, RBC must generate at least

$80,000 in total contribution margin to break-even

(which is the level of sales at which profit is zero).

5-8

If RBC sells 400 units in a month, it will be

operating at the break-even point.

5-9

If RBC sells one more bike (401 bikes), net

operating income will increase by $200.

5-10

We do not need to prepare an income statement to

estimate profits at a particular sales volume. Simply

multiply the number of units sold above break-even

by the contribution margin per unit.

IfIf Racing

Racing sells

sells

430

430 bikes,

bikes, its

its net

net

operating

operating income

income

will

will be

be $6,000.

$6,000.

5-11

The contribution format income statement can be

expressed in the following equation:

5-12

earns if it sells 401. Notice, the answer of $200 mirrors

our earlier solution.

Profit = (Sales Variable expenses) Fixed expenses

$80,000

$80,000

401

401 units

units $500

$500

401

401 units

units $300

$300

Profit

$200 = ($200,500 $120,300)

Variable expenses)

$80,000

Fixed expenses

Fixed

5-13

refine this equation as shown on this slide.

5-14

This equation can also be used to show the $200

profit RBC earns if it sells 401 bikes.

$200

Profit

$200 = ($500 401 $300 401) $80,000

5-15

It is often useful to express the simple profit equation in

terms of the unit contribution margin (Unit CM) as follows:

Unit CM = Selling price per unit Variable expenses per unit

Unit CM = P V

Profit = (P Q V Q) Fixed expenses

Profit = (P V) Q Fixed expenses

Profit = Unit CM Q Fixed expenses

5-16

Profit = (P Q V Q) Fixed expenses

Profit = (P V) Q Fixed expenses

Profit = Unit CM Q Fixed expenses

Profit = $200 401 $80,000

This equation

Profit = $80,200 $80,000 can also be used

Profit = $200 to compute

RBCs $200 profit

if it sells 401

bikes.

5-17

Learning Objective 2

cost-volume-profit (CVP)

graph and a profit graph.

5-18

can be expressed graphically by preparing a CVP graph.

Racing Bicycle developed contribution margin income

statements at 0, 200, 400, and 600 units sold. We will

use this information to prepare the CVP graph.

5-19

Dollars

represented on the horizontal (X) axis

and dollars on the vertical (Y) axis.

Units

5-20

Draw

Draw aa line

line parallel

parallel to

to the

the volume

volume axis

axis

to

to represent

represent total

total fixed

fixed expenses.

expenses.

Dollars

Units

5-21

Choose

Choose some

some sales

sales volume,

volume, say

say 400

400 units,

units, and

and plot

plot the

the point

point representing

representing

total

total expenses

expenses (fixed

(fixed and

and variable).

variable). Draw

Draw aa line

line through

through the

the data

data point

point

back

back to

to where

where the

the fixed

fixed expenses

expenses line

line intersects

intersects the

the dollar

dollar axis.

axis.

Dollars

Units

5-22

Choose

Choose some

some sales

sales volume,

volume, say

say 400

400 units,

units, and

and plot

plot the

the point

point representing

representing

total

total sales.

sales. Draw

Draw aa line

line through

through the

the data

data point

point back

back toto the

the point

point of

of origin.

origin.

Dollars

Units

5-23

Break-even point

(400 units or $200,000 in sales) Profit

Profit Area

Area

Dollars

Loss

Loss Area

Area Units

5-24

Profit

Profit == Unit

Unit CM

CM Q

Q Fixed

Fixed Costs

Costs

the CVP graph is called

the profit graph.

5-25

Break-even

Break-even point,

point, where

where

profit

profit is

is zero,

zero, is

is 400

400

units

units sold.

sold.

5-26

Learning Objective 3

margin ration (CM ratio)

to compute changes in

contribution margin and

net operating income

resulting from changes

in sales volume.

5-27

The CM ratio is calculated by dividing the total

contribution margin by total sales.

Each $1 increase in sales results in a total contribution

margin increase of 40.

5-28

The contribution margin ratio at Racing Bicycle is:

CM Ratio = = = 40%

SP per unit $500

dividing the contribution margin per unit by

the selling price per unit.

5-29

If Racing Bicycle increases sales from 400 to 500 bikes ($50,000),

contribution margin will increase by $20,000 ($50,000 40%).

Here is the proof:

increase in CM ($50,000 40% = $20,000).

5-30

Quick Check

Coffee Klatch is an espresso stand in a downtown

office building. The average selling price of a cup of

coffee is $1.49 and the average variable expense per

cup is $0.36. The average fixed expense per month is

$1,300. An average of 2,100 cups are sold each

month. What is the CM Ratio for Coffee Klatch?

a. 1.319

b. 0.758

c. 0.242

d. 4.139

5-31

Quick Check

Coffee Klatch is an espresso stand in a downtown

office building. The average selling price of a cup of

coffee is $1.49 and the average variable expense per

cup is $0.36. The average fixed expense per month is

$1,300. An average of 2,100 cups are sold each

month. What is the CM Ratio for Coffee Klatch?

a. 1.319 Unit contribution margin

CM Ratio =

b. 0.758 Unit selling price

c. 0.242 ($1.49 - $0.36)

=

d. 4.139 $1.49

$1.13

= = 0.758

$1.49

5-32

The relationship between profit and the CM ratio

can be expressed using the following equation:

If Racing Bicycle increased its sales volume to 500

bikes, what would management expect profit or net

operating income to be?

Profit = (40% $250,000) $80,000

Profit = $100,000 $80,000

Profit = $20,000

5-33

Learning Objective 4

operating income of

changes in variable

costs, fixed costs,

selling price, and

volume.

5-34

The variable expense ratio is the ratio of variable

expenses to sales. It can be computed by dividing the total

variable expenses by the total sales, or in a single product

analysis, it can be computed by dividing the variable

expenses per unit by the unit selling price.

5-35

Volume

What is the profit impact if Racing Bicycle

can increase unit sales from 500 to 540 by

increasing the monthly advertising budget

by $10,000?

5-36

Volume

$80,000

$80,000 ++ $10,000

$10,000 advertising

advertising == $90,000

$90,000

Sales

Sales increased

increased by

by $20,000,

$20,000, but

but net

net operating

operating

income

income decreased

decreased byby $2,000

$2,000..

5-37

Volume

A shortcut solution using

incremental analysis

5-38

Volume

What is the profit impact if Racing

Bicycle can use higher quality raw

materials, thus increasing variable costs

per unit by $10, to generate an increase

in unit sales from 500 to 580?

5-39

Volume

580

580 units

units $310

$310 variable

variable cost/unit

cost/unit == $179,800

$179,800

Sales

Sales increase

increase by

by $40,000

$40,000 and

and net

net operating

operating income

income

increases

increases by

by $10,200

$10,200..

5-40

and Volume

What is the profit impact if RBC: (1) cuts its

selling price $20 per unit, (2) increases its

advertising budget by $15,000 per month,

and (3) increases sales from 500 to 650

units per month?

5-41

and Volume

650

650 units

units $480

$480 == $312,000

$312,000

Sales

Sales increase

increase by

by $62,000,

$62,000, fixed

fixed costs

costs increase

increase by

by

$15,000,

$15,000, and

and net

net operating

operating income

income increases

increases by

by $2,000

$2,000..

5-42

and Sales Volume

What is the profit impact if RBC: (1) pays a

$15 sales commission per bike sold instead

of paying salespersons flat salaries that

currently total $6,000 per month, and (2)

increases unit sales from 500 to 575 bikes?

5-43

and Sales Volume

575

575 units

units $315

$315 == $181,125

$181,125

Sales

Sales increase

increase by

by $37,500,

$37,500, fixed

fixed expenses

expenses decrease

decrease by

by

$6,000,

$6,000, and

and net

net operating

operating income

income increases

increases by

by $12,375.

$12,375.

5-44

If RBC has an opportunity to sell 150

bikes to a wholesaler without disturbing

sales to other customers or fixed

expenses, what price would it quote to

the wholesaler if it wants to increase

monthly profits by $3,000?

5-45

$$ 3,000

3,000 150

150 bikes

bikes == $$ 20

20 per

per bike

bike

Variable

Variable cost

cost per

per bike

bike == 300

300 per

per bike

bike

Selling

Selling price

price required

required == $$ 320

320 per

per bike

bike

5-46

Learning Objective 5

even point.

5-47

Break-even Analysis

The equation and formula methods can be used to

determine the unit sales and dollar sales needed to

achieve a target profit of zero. Lets use the RBC

information to complete the break-even analysis.

5-48

Equation Method

Profits = Unit CM Q Fixed expenses

Suppose RBC wants to know how many

bikes must be sold to break-even

(earn a target profit of $0).

$0 = $200 Q + $80,000

5-49

Equation Method

Profits = Unit CM Q Fixed expenses

$0 = $200 Q + $80,000

$200 Q = $80,000

Q = 400 bikes

5-50

Formula Method

Lets apply the formula method to solve for

the break-even point.

=

break even CM per unit

$80,000

Unit sales =

$200

Unit sales = 400

5-51

Equation Method

Suppose Racing Bicycle wants to compute

the sales dollars required to break-even (earn

a target profit of $0). Lets use the equation

method to solve this problem.

5-52

Equation Method

Profit = CM ratio Sales Fixed expenses

$ 0 = 40% Sales $80,000

Sales = $200,000

5-53

Formula Method

Now, lets use the formula method to calculate the

dollar sales at the break-even point.

=

break even CM ratio

$80,000

Dollar sales =

40%

Dollar sales = $200,000

5-54

Quick Check

Coffee Klatch is an espresso stand in a downtown

office building. The average selling price of a cup of

coffee is $1.49 and the average variable expense per

cup is $0.36. The average fixed expense per month is

$1,300. An average of 2,100 cups are sold each

month. What is the break-even sales dollars?

a. $1,300

b. $1,715

c. $1,788

d. $3,129

5-55

Quick Check

Coffee Klatch is an espresso stand in a downtown

office building. The average selling price of a cup of

coffee is $1.49 and the average variable expense

per cup is $0.36. The average fixed expense per

month is $1,300. An average of 2,100 cups are sold

each month. What is the break-even sales dollars?

a. $1,300 Break-even Fixed expenses

b. $1,715 =

sales CM Ratio

c. $1,788 $1,300

=

0.758

d. $3,129

= $1,715

5-56

Quick Check

Coffee Klatch is an espresso stand in a downtown

office building. The average selling price of a cup of

coffee is $1.49 and the average variable expense per

cup is $0.36. The average fixed expense per month is

$1,300. An average of 2,100 cups are sold each

month. What is the break-even sales in units?

a. 872 cups

b. 3,611 cups

c. 1,200 cups

d. 1,150 cups

5-57

Quick Check

Coffee Klatch is an espresso stand in a downtown

office building. The average selling price of a cup of

coffee is $1.49 and the average variable expense per

cup is $0.36. The average fixed expense per month is

$1,300. An average Break-even

of 2,100 cups Fixed

are soldexpenses

each

= CM per Unit

month. What is the break-even sales in units?

a. 872 cups $1,300

=

$1.49/cup - $0.36/cup

b. 3,611 cups

c. 1,200 cups $1,300

=

$1.13/cup

d. 1,150 cups

= 1,150 cups

5-58

Learning Objective 6

sales needed to achieve

a desired target profit.

5-59

We can compute the number of units

that must be sold to attain a target

profit using either:

(1) Equation method, or

(2) Formula method.

5-60

Equation Method

Profit = Unit CM Q Fixed expenses

represents the quantity of units that must be sold

to attain the target profit.

5-61

Suppose RBCs management wants to know

how many bikes must be sold to earn a target

profit of $100,000.

$100,000 = $200 Q $80,000

$200 Q = $100,000 $80,000

Q = ($100,000 + $80,000) $200

Q = 900

5-62

=

the target profit CM per unit

5-63

Unit Sales

Suppose Racing Bicycle Company wants

to know how many bikes must be sold to

earn a profit of $100,000.

=

the target profit CM per unit

$100,000 + $80,000

Unit sales =

$200

Unit sales = 900

5-64

We can also compute the target profit in terms of

sales dollars using either the equation method or

the formula method.

Equation OR Formula

Method Method

5-65

Equation Method

Profit = CM ratio Sales Fixed expenses

Our goal is to solve for the unknown Sales,

which represents the dollar amount of sales

that must be sold to attain the target profit.

Suppose RBC management wants to know the

sales volume that must be generated to earn a

target profit of $100,000.

$100,000 = 40% Sales $80,000

40% Sales = $100,000 + $80,000

Sales = ($100,000 + $80,000) 40%

Sales = $450,000

5-66

Formula Method

We can calculate the dollar sales needed to

attain a target profit (net operating profit) of

$100,000 at Racing Bicycle.

=

the target profit CM ratio

$100,000 + $80,000

Dollar sales =

40%

Dollar sales = $450,000

5-67

Quick Check

Coffee Klatch is an espresso stand in a downtown

office building. The average selling price of a cup of

coffee is $1.49 and the average variable expense

per cup is $0.36. The average fixed expense per

month is $1,300. Use the formula method to

determine how many cups of coffee would have to

be sold to attain target profits of $2,500 per month.

a. 3,363 cups

b. 2,212 cups

c. 1,150 cups

d. 4,200 cups

5-68

Quick Check

Coffee Klatch is an espresso stand in a downtown office

building. The average selling price of a cup of coffee is

$1.49 and the average variable expense per cup is

$0.36. The Unit salesfixed expense per month is $1,300.

average Target profit + Fixed expenses

to attain

Use the formula method = to determineUnit

howCMmany cups of

target

coffee would profit

have to be sold to attain target profits of

$2,500 per month. $2,500 + $1,300

= $1.49 - $0.36

a. 3,363 cups

b. 2,212 cups $3,800

=

c. 1,150 cups $1.13

d. 4,200 cups = 3,363 cups

5-69

Quick Check

Coffee Klatch is an espresso stand in a downtown

office building. The average selling price of a cup of

coffee is $1.49 and the average variable expense

per cup is $0.36. The average fixed expense per

month is $1,300. Use the formula method to

determine the sales dollars that must be generated

to attain target profits of $2,500 per month.

a. $2,550

b. $5,013

c. $8,458

d. $10,555

5-70

Quick Check

Coffee Klatch is an espresso stand in a downtown office

building. The average selling price of a cup of coffee is

$1.49 and the average variable expense per cup is

$0.36. The average fixed expense per month is $1,300.

Use the formula method to determine the sales dollars

that must be generated to attain target profits of $2,500

per month.

a. $2,550

b. $5,013

c. $8,458

d. $10,555

5-71

Learning Objective 7

safety and explain its

significance.

5-72

The margin of safety in dollars is the excess

of budgeted (or actual) sales over the

break-even volume of sales.

Margin of safety in dollars = Total sales - Break-even sales

determine the margin of safety.

5-73

If we assume that RBC has actual sales of

$250,000, given that we have already

determined the break-even sales to be

$200,000, the margin of safety is $50,000 as

shown.

Break-even

Break-even

sales

sales Actual

Actual sales

sales

400

400 units

units 500

500 units

units

Sales

Sales $$ 200,000

200,000 $$ 250,000

250,000

Less:

Less: variable

variable expenses

expenses 120,000

120,000 150,000

150,000

Contribution

Contribution margin

margin 80,000

80,000 100,000

100,000

Less:

Less: fixed

fixed expenses

expenses 80,000

80,000 80,000

80,000

Net

Net operating

operating income

income $$ -- $$ 20,000

20,000

5-74

RBCs margin of safety can be expressed

as 20% of sales.

($50,000 $250,000)

Break-even

Break-even

sales

sales Actual

Actual sales

sales

400

400 units

units 500

500 units

units

Sales

Sales $$ 200,000

200,000 $$ 250,000

250,000

Less:

Less: variable

variable expenses

expenses 120,000

120,000 150,000

150,000

Contribution

Contribution margin

margin 80,000

80,000 100,000

100,000

Less:

Less: fixed

fixed expenses

expenses 80,000

80,000 80,000

80,000

Net

Net operating

operating income

income $$ -- $$ 20,000

20,000

5-75

The margin of safety can be expressed in terms of

the number of units sold. The margin of safety at

RBC is $50,000, and each bike sells for $500;

hence, RBCs margin of safety is 100 bikes.

5-76

Quick Check

Coffee Klatch is an espresso stand in a

downtown office building. The average selling

price of a cup of coffee is $1.49 and the average

variable expense per cup is $0.36. The average

fixed expense per month is $1,300. An average

of 2,100 cups are sold each month. What is the

margin of safety expressed in cups?

a. 3,250 cups

b. 950 cups

c. 1,150 cups

d. 2,100 cups

5-77

Quick Check

Coffee Klatch is an espresso stand in a downtown

office building. The average selling price of a cup of

coffee is $1.49 and the average variable expense per

cup Margin of The

is $0.36. safety = Totalfixed

average salesexpense

Break-even salesis

per month

$1,300. An average = of2,100

2,100cups

cups are

1,150 cups

sold each

= 950 cups

month. What is the margin of safety expressed in

cups?

a. 3,250 cups

b. 950 cups

c. 1,150 cups

d. 2,100 cups

5-78

of fixed and variable costs in an organization.

Managers often have some latitude in

determining their organizations cost structure.

5-79

There are advantages and disadvantages to high fixed cost

(or low variable cost) and low fixed cost (or high variable

cost) structures.

An advantage of a high fixed

cost structure is that income A disadvantage of a high fixed

will be higher in good years cost structure is that income

compared to companies will be lower in bad years

with lower proportion of compared to companies

fixed costs. with lower proportion of

fixed costs.

Companies with low fixed cost structures enjoy greater

stability in income across good and bad years.

5-80

Learning Objective 8

operating leverage at a

particular level of sales

and explain how it can

be used to predict

changes in net operating

income.

5-81

Operating Leverage

Operating leverage is a measure of how sensitive

net operating income is to percentage changes

in sales. It is a measure, at any given level of

sales, of how a percentage change in sales

volume will affect profits.

Degree of Contribution margin

operating leverage = Net operating income

5-82

Operating Leverage

To illustrate, lets revisit the contribution income statement

for RBC.

Degree of

Operating $100,000

= $20,000 = 5

Leverage

5-83

Operating Leverage

With an operating leverage of 5, if RBC

increases its sales by 10%, net operating

income would increase by 50%.

Percent increase in sales 10%

Degree of operating leverage 5

Percent increase in profits 50%

5-84

Operating Leverage

$250,000 to $275,000 . . .

income from $20,000 to $30,000.

5-85

Quick Check

Coffee Klatch is an espresso stand in a

downtown office building. The average selling

price of a cup of coffee is $1.49 and the average

variable expense per cup is $0.36. The average

fixed expense per month is $1,300. An average

of 2,100 cups are sold each month. What is the

operating leverage?

a. 2.21

b. 0.45

c. 0.34

d. 2.92

5-86

Quick Check

Coffee Klatch is an espresso stand in a

downtown office building. The average selling

price of a cup of coffee is $1.49 and the average

variable expense per cup is $0.36. The average

fixed expense per month is $1,300. An average

of 2,100 cups are sold each month. What is the

operating leverage?

a. 2.21

b. 0.45 Operating Contribution margin

c. 0.34 leverage = Net operating income

d. 2.92 $2,373

= $1,073 = 2.21

5-87

Quick Check

At Coffee Klatch the average selling price of a cup of

coffee is $1.49, the average variable expense per cup

is $0.36, the average fixed expense per month is

$1,300, and an average of 2,100 cups are sold each

month.

If sales increase by 20%, by how much should net

operating income increase?

a. 30.0%

b. 20.0%

c. 22.1%

d. 44.2%

5-88

Quick Check

At Coffee Klatch the average selling price of a cup of

coffee is $1.49, the average variable expense per cup

is $0.36, the average fixed expense per month is

$1,300, and an average of 2,100 cups are sold each

month.

If sales increase by 20%, by how much should net

operating income increase?

a. 30.0%

b. 20.0%

c. 22.1%

d. 44.2%

5-89

5-90

Companies generally compensate salespeople

by paying them either a commission based on

sales or a salary plus a sales commission.

Commissions based on sales dollars can lead to

lower profits in a company.

5-91

Pipeline Unlimited produces two types of surfboards,

the XR7 and the Turbo. The XR7 sells for $100 and

generates a contribution margin per unit of $25. The

Turbo sells for $150 and earns a contribution margin

per unit of $18.

compensated based on sales commissions.

5-92

If you were on the sales force at Pipeline, you would

push hard to sell the Turbo even though the XR7

earns a higher contribution margin per unit.

be based on contribution margin rather than on

selling price alone.

5-93

Learning Objective 9

point for a multiproduct

company and explain the

effects of shifts in the

sales mix on

contribution margin and

the break-even point.

5-94

Sales mix is the relative proportion in which a

companys products are sold.

Different products have different selling prices,

cost structures, and contribution margins.

When a company sells more than one product,

break-even analysis becomes more complex

as the following example illustrates.

bikes and carts and that the sales mix between

the two products remains the same.

5-95

Bikes comprise 45% of RBCs total sales revenue and the

carts comprise the remaining 55%. RBC provides the

following information:

$550,000

5-96

Dollar sales to Fixed expenses

=

break even CM ratio

= = $352,697

break even 48.2%

5-97

End of Chapter 5

- Project Report OnTransféré parburde_ashish
- LeverageTransféré parYogeshwara Gopal
- Chapter 5 CvpTransféré parLegogie Moses Anoghena
- GA_3- Break-even Analysis for MarkstratTransféré parPrerana Rai Bhandari
- BUS 310 - Exam 2Transféré parNerdy Notes Inc.
- ACCT 301 Midterm (3 Different Versions)Transféré parAlan Mark
- Car Wash Marketing PlanTransféré parDan Tax
- Microbrewery Business PlanTransféré parTom Troncone
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