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^`AfinancialanalysisreportforTricolplcOutcome3and4Class;10E6Name:MabodaSCN:125099297CandidateNum:22^`IntroductionTooperatebetterinfinancialaspect,themanagementofTricolplcaskedmetoanalyzetheirfinancialconditionthenmakerecommendationsforthem.精品文檔放心下載FindingsPartA(ⅰ)Flexbudgetinlinewithactualactivity感謝閱讀TricolplcFlexedBudgetforJune謝謝閱讀OriginalFlexedActualVariancebudgetbudgetresults2000units1600units1600unitsF/A￡￡￡￡Directmaterial80,00064,00061,6002,400FDirectlabor36,00028,80035,2006,400AVariableproductionoverhead4,0003,2003,2000FixedcostDepreciation1,5001,5001,5000Rentandrates2,5002,5002,5000Administrationoverhead2,0002,0002,200200AInsurancecosts2,2002,2002,400200ATotal128,200104,200108,6004,400A(ⅱ)VariancescalculationDirectmaterialtotalvariance精品文檔放心下載(Standardunitsofactualproduction*standardprice)－(actualquantity*actualprice)謝謝閱讀(4kg*1,600*￡10)－￡61,600=￡2,400(F)精品文檔放心下載Rateofsignificance:(3.75%)精品文檔放心下載Directmaterialusagevariance謝謝閱讀Standardprice*(standardunitsofactualproduction－actualquantity)謝謝閱讀^`10*[(4kgⅹ1,600)－5,600kg]=￡8,000(F)謝謝閱讀Rateofsignificance(12.5%)謝謝閱讀Directmaterialpricevariance精品文檔放心下載Actualquantity*(standardprice－actualprice)精品文檔放心下載5,600kg*[￡10－(￡61,600/5,600kg)]=￡(5,600)(A)謝謝閱讀Rateofsignificance:(8.75%)謝謝閱讀Directlabourtotalvariance精品文檔放心下載(Standardhoursofactualproduction*standardrateph)-(actualhours*actualrateph)精品文檔放心下載[(2hrs*1,600)*￡9]－￡35,200=￡(6,400)(A)感謝閱讀Rateofsignificance:(22.22%)謝謝閱讀Directlabourefficiencyvariance感謝閱讀Standardrateph*(standardhoursofactualproduction－actualhours)精品文檔放心下載￡9*(2hrs*1,600－3,520hrs)=(2,880)(A)感謝閱讀Rateofsignificance:(10%)謝謝閱讀Directlabourratevariance精品文檔放心下載Actualhours*(standardrateph–actualrateph)精品文檔放心下載3,520hrs*(￡9*－￡35,200/3,520hrs)=￡(3,520)(A)精品文檔放心下載Rateofsignificance:(12.22%)謝謝閱讀TotaloverheadvarianceTotalstandardoverheadforactualproduction－totalactualoverheads感謝閱讀(￡18,000/12+￡2,500+￡2,200+￡2,000)-(￡1,500+￡2,500+￡2,200+￡2,400)=感謝閱讀￡(400)(A)Rateofsignificance:(3.5%)謝謝閱讀(ⅲ)Reportaboutvariances謝謝閱讀^`DirectmaterialvarianceThedirectmaterialtotalvariancecanbeanalyzedintwoaspectswhicharedirectmaterialvolumeanddirectmaterialprice.精品文檔放心下載Forvolumeside,ascalculatedabove,thebudgetvolumeis6400kg;theactualvolumeis5600kg.Sothereis800kgvariancewhichisfavorableandeachunitvarianceis精品文檔放心下載0.5kg.Thelikelyreasoncausingthevariancecomesfromthreeaspects.Firstofall,thecompanyupgradedtheproductionmachineryrecently,andnewmachinemayusematerialsefficiently,soitreducedthewasteofmaterials.Secondly,thecompanyswitchedsuppliersandusinghigher-gradematerialscandecreasewasteofmaterialstoo.Finally,thecompanyhasconcludedahigher-than-expectedwagesettlementforproductionoperatives,whichwillmaintainemployeeswithhigherskillsaswellasdecreaseturnoverofemployees,anditalsocanincreaseefficiencyinusingmaterials.謝謝閱讀Forpriceaspect,thebudgetpriceis￡10perkg,andtheactualpriceis￡11perkg,itisadversethatonepoundoverthebudgetprice.Thecompanyswitchingsuppliersmaycausetheincreaseofnegotiationcost.Theremaybealong-termrelationshipbetweenTricolplcanditsoldsuppliers,sothesuppliersmaytakelotsofdiscountstothefirm.Afterchangingsuppliers,thediscountmaydisappear.Furthermore,highergradematerialsincreasedunitprice.感謝閱讀Overall,thetotalmaterialvarianceisfavorable.￡8,000－￡5,600=￡2,400.感謝閱讀DirectlabourvarianceThedirectlabourtotalvarianceiscomposedofdirectlabourefficiencyvarianceanddirectlabourratevariance.感謝閱讀Thebudgetdirectlabourhoursare3,200hrsandtheactuallabourhoursare3,520hrs.Therearemore320hrsneededthanthebudget,andeachunitis0.2hrs,whichitis謝謝閱讀^`obviouslyadverse.Thecompanyupgradingtheproductionmachinerymayneedtimeforemployeestoadoptit.Also,employeesneedtrainingtime.Therebuildprocessofmachineryconsumedtimetoo.Inaword,thechargeablehourshaveincreased.謝謝閱讀Thebudgetdirectlaourhoursrateis￡9perhour,theactualhoursrateis￡10perhour.Itisadversethatonepoundhigherthanbudgeted.Itispossiblecausedbybothinternalandexternalfactors.Higher-than-expectedwagesettlementmaybeinternalreasonforthevariance,andnewmachinerymaybeneededtorecruitnewemployeestooperatethemachinery,whichalsocanincreasetheexpense.Forexternalfactors,thechangingoflabourmarketmayincreaselabourcost;thegovernmentlegislationalsocanincreasethelabourcost,forexampleminimumpay.精品文檔放心下載Bothdirectlabourefficiencyanddirectlabourratevariancesareadverse,sothedirectlabourtotalvarianceisadverse.精品文檔放心下載OverheadvarianceAscalculatedabove,totaloverheadvarianceiscausedbyadministrationandinsurance.Eachfactorhas￡200variance,sothetotaloverheadvarianceis￡400anditisadverse.Duringtheprocessofchangingsupplier,thecompanyneededmoreexpenseonpublicrelationshipornegotiation,inaddition,inordertomaintainthenewmachinery,administrationcostwillbeincreasedtoo.Forinsuranceaside,theimprovementofmachinerywillneedmoreinsurancefeestocover,whichalsocontributestotheincreaseofinsurancefeeofnewemployees.精品文檔放心下載PartB^`Selectionandapplicationoftwoinvestmentappraisaltechniques感謝閱讀Asthecompanyiskeentorecoupthecostoftheinvestmentwithinfiveyears,IwillchoosePaybackperiodandNetPresentValuetohelpmecompletetheappraisal.精品文檔放心下載Inordertofulfilltheappraisaleasily,therearesomeassumptionslistedbelowshouldbeconsideredbeforetheappraisal.精品文檔放心下載Allrevenueandinflowareassumedcashflow謝謝閱讀Allinvestmentcostincurredinyear0精品文檔放心下載Nouncertaintyisconsidered謝謝閱讀Donotconsiderinflationandtaxation精品文檔放心下載Marketrateofreturnisexpectedrateofreturn感謝閱讀Rateofreturnisvaryingalongwithtime感謝閱讀TricolplcPaybackperiodforprojectdistributionarmYearNetcashflowCumulativeCashFlow￡￡CashFlowYear0(1,000,000)(1,000,000)CashInflowYear1160,000(840,000)Year2160,000(680,000)Year3320,000(360,000)Year4320,000(40,000)Year5320,000280,000NetCashBenefitYear5280.000Note:require40,000/320,000inyear5=1/8*year=1.5moths精品文檔放心下載Payback=4years1.5mothsTricolplcNetPresentValueforprojectdistributionarm精品文檔放心下載^`AnnualcashflowPresentvaluePresentValuefactorsat10%￡￡￡Year0(1,000,000)1.000(1,000,000)Year1160,0000.909145,440Year2160,0000.826132,160Year3320,0000.751240,320Year4320,0000.683218,560Year5320,0000.621198,720935,200NPV(64,800)Recommendationaboutinvestment感謝閱讀AccordingtoPaybackPeriodanalysis,theinvestmentcostcanberecoupedinyear4and1.5moths.Inotherwords,theperiodisundercompany’sexpectation.Theprojectcanbeexecuted.However,accordingtoNetPresentValueanalysis,intermsofpresentvalue,withinfiveyears,whattheNPVwillbringnetresultisnetcashlossbutnotnetcashsurplus.Ingeneral,thecompanyshouldconsidertimevalueandotherfactors,sotheprojectshouldnotbeexecuted.謝謝閱讀Factorsimpactontheinvestmentshouldbeconsidered謝謝閱讀Variousfactorswillimpactonresultofinvestment.Iwilloutlinefactorsshouldbeconsideredwhenthemanagementreviewingmyrecommendationinfinancialandnon-financialfactors.感謝閱讀Financialfactor^`Asdistributionarmisfinanciallong-termbeneficialproject,itcanbeusedin感謝閱讀long-termperiodandbringbenefitscontinuous.Theinvestmentcostis￡1,000,000,whichcanbeconsideredalargeinvestment.Soitmorelikelyneedslongperiodpaybackperiod.Themanagementshouldfocusonlongercashflowsforlongerperiodoffuture.Ontheotherhand,NetPresentValueinyearfiveis(28,000)onlytake2.8%percentsoftheinvestmentcost,itismorelikelysurplusinyearsix