21542374 cost behavior and cost volume profit analysis
TRANSCRIPT
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Chapter 20
Cost Behavior and Cost-Volume-Profit AnalysisAccounting, 21st Edition
Warren Reeve Fess
PowerPoint Presentation by Douglas CloudProfessor Emeritus of Accounting
Pepperdine University
Copyright 2004 South-Western, a divisionof Thomson Learning. All rights reserved.
Task Force Image Galleryclip art included in thiselectronic presentation is used with the permission ofNVTech Inc.
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Some of the action has been automated,
so click the mouse when you see this
lightning bolt in the lower right-handcorner of the screen. You can point and
click anywhere on the screen.
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1. Classify costs by their behavior asvariable costs, fixed costs, or mixedcosts.
2. Compute the contribution margin, thecontribution margin ratio, and the unitcontribution margin, and explain howthey may be useful to management.
3. Using the unit contribution margin,determine the break-even point and thevolume necessary to achieve a target
profit.
Objectives
After studying this
chapter, you should
be able to:
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4. Using a cost-volume profit chart and a profit-volume chart, determine the break-even pointand the volume necessary to achieve atarget profit.
Objectives
5. Calculate the break-even point for a businessselling more than one product.
6. Compute the margin of safety and theoperating leverage, and explain howmanagers use this concept.
7. List the assumptions underlying cost-volume-profit analysis.
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Cost Behavior
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Jason Inc. produces stereo sound systemsunder the brand name of J-Sound. The partsfor the stereo are purchased from an outside
supplier for $10 per unit (a variable cost).
Variable Cost
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Total Variable Cost Graph
TotalCost
s
$300,000
$250,000
$200,000
$150,000
$100,000
$50,000
10 20 300Units Produced
(in thousands)
Variable Cost
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Unit Variable Cost Graph
$20
$15$10
$5
0
CostperU
nit
10 20 30Units Produced
(000)
Variable Cost
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TotalCosts
$300,000
$250,000$200,000
$150,000
$100,000
$50,000
10 20 300
$20
$15$10
$5
0CostperU
nit
10 20 30
Number of
Units
Produced
Units Produced (000)
Units Produced (000)
Direct
Materials
Cost per Unit
Total Direct
Materials
Cost
5,000 units $10 $ 50,000
10,000 10 l00,000
15,000 10 150,000
20,000 10 200,000
25,000 10 250,000
30,000 10 300,000
Variable Cost
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The productionsupervisor for Minton
Inc.s Los Angeles plantis Jane Sovissi. She ispaid $75,000 per year.
The plant produces from50,000 to 300,000
bottles of perfume.
La Fleur
Fixed Costs
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Number of
Bottles
Produced
Total Salary
for Jane
Sovissi
50,000 bottles $75,000 $1.500
100,000 75,000 0.750
15,000 75,000 0.500
20,000 75,000 0.375
25,000 75,000 0.30030,000 75,000 0.250
Salary per
Bottle
Produced
Fixed Costs
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Fixed Costs
Total Fixed Cost Graph
TotalCosts $150,000
$125,000
$100,000
$75,000
$50,000
$25,000
100 200 3000
Unit Fixed Cost Graph
Bottles Produced (000)
Number of
Bottles
Produced
CostperUnit $1.50
$1.25
$1.00
$.75
$.50
$.25
100 200 3000
Units Produced (000)
Total Salary
for Jane
Sovissi
50,000 bottles $75,000 $1.500
100,000 75,000 0.750
15,000 75,000 0.500
20,000 75,000 0.375
25,000 75,000 0.30030,000 75,000 0.250
Salary per
Bottle
Produced
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Simpson Inc. manufacturessails using rented equipment.
The rental charges are$15,000 per year, plus $1 for
each machine hour used over10,000 hours.
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Mixed Costs
Total Mixed Cost Graph
TotalCosts
0
Total Machine Hours (000)
$45,000
$40,000
$35,000$30,000
$25,000
$20,000
$15,000
$10,000
$5,000
10 20 30 40
Mixed costs are
usually separated into
their fixed and
variable componentsfor management
analysis.
Mixed costs are
sometimes called
semivariable or
semifixed costs.
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The high-low method is a simple wayto separate mixed costs into theirfixed and variable components.
Mixed Costs
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Actual costs incurred
ProductionTotal(Units) Cost
June 1,000 $45,550
July 1,500 52,000
August 2,100 61,500September 1,800 57,500
October 750 41,250
High-Low Method
Variable cost per unit =
Highest level of activity ($) minus
lowest level of activity ($)
Highest level of activity (n) minus
lowest level of activity (n)
What month has
the highest level
of activity interms of cost?
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Actual costs incurred
ProductionTotal(Units) Cost
June 1,000 $45,550
July 1,500 52,000
August 2,100 61,500September 1,800 57,500
October 750 41,250
Variable cost per unit =
$61,500 minus lowest level of
activity ($)
What month has
the highest level
of activity interms of cost?
Highest level of activity (n) minus
lowest level of activity (n)
High-Low Method
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Actual costs incurred
ProductionTotal(Units) Cost
June 1,000 $45,550
July 1,500 52,000
August 2,100 61,500September 1,800 57,500
October 750 41,250
Variable cost per unit =
$61,500 minus lowest level ofactivity ($)
For the highest
level of cost,
what is the levelof production?
Highest level of activity (n) minus
lowest level of activity (n)
2,100 minus lowest level of
activity (n)
High-Low Method
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2,100 minus lowest level of
activity (n)
Actual costs incurred
ProductionTotal(Units) Cost
June 1,000 $45,550
July 1,500 52,000
August 2,100 61,500September 1,800 57,500
October 750 41,250
Variable cost per unit =
$61,500 minus lowest level ofactivity ($)
What month has
the lowest level of
activity in termsof cost?
$57,500$41,250
2,100750
High-Low Method
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2,100750
Actual costs incurred
ProductionTotal(Units) Cost
June 1,000 $45,550
July 1,500 52,000
August 2,100 61,500September 1,800 57,500
October 750 41,250
What is the
variable cost per
unit?
$57,500$41,250
High-Low Method
$20,250
1,350Variable cost per unit = $15
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Actual costs incurred
ProductionTotal(Units) Cost
Variable cost per unit = $15
What is the total
fixed cost (using the
highest level)?
Total cost = (Variable cost per unit x Units of production)+ Fixed cost
June 1,000 $45,550
July 1,500 52,000
August 2,100 61,500September 1,800 57,500
October 750 41,250
$61,500 = ($15 x 2,100) + Fixed cost
$61,500 = ($15 x 2,100) + $30,000
High-Low Method
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Actual costs incurred
ProductionTotal(Units) Cost
Variable cost per unit = $15
The fixed cost is
the same at the
lowest level.
Total cost = (Variable cost per unit x Units of production)+ Fixed cost
June 1,000 $45,550
July 1,500 52,000
August 2,100 61,500September 1,800 57,500
October 750 41,250
$41,250 = ($15 x 750) + Fixed cost
$41,250 = ($15 x 750) + $30,000
High-Low Method
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Variable Costs
Total Fixed Costs
Total Units Produced
TotalCosts
Total Units Produced
PerUnitC
ost
Total Variable Costs
Total Units Produced
Unit Variable Costs
Total Units Produced
TotalCosts
PerUnitC
ost
Fixed Costs
ReviewUnit Fixed CostsUnit costs remain the
same regardless of
activity.
Total costs increase
and decreases withactivity level.Total costs increase and
decreases proportionately
with activity level.
Unit costs remain the
same per unit regardless
of activity.
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Contribution Margin Income Statement
Sales (50,000 units) $1,000,000Variable costs 600,000
Contribution margin $ 400,000
Fixed costs 300,000
Income from operations $ 100,000
The contribution
margin isavailable to cover
the fixed costs
and income fromoperations.
FIXED
COSTS
Contribution
margin
Income from
Operations
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Contribution Margin Income Statement
Sales Variablecosts
Fixedcosts
Incomefrom
operations= + +
SalesVariablecosts
Contributionmargin
=
Sales (50,000 units) $1,000,000Variable costs 600,000
Contribution margin $ 400,000
Fixed costs 300,000
Income from operations $ 100,000
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Contribution Margin Ratio
100%60%
40%
30%
10%
Contribution margin ratio =SalesVariable costs
Sales
Contribution margin ratio = $1,000,000$600,000$1,000,000
Contribution margin ratio = 40%
Sales (50,000 units) $1,000,000Variable costs 600,000
Contribution margin $ 400,000
Fixed costs 300,000
Income from operations $ 100,000
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100%60%
40%
30%
10%
The contribution margin can be expressed three ways:
1. Total contribution margin in dollars.
2. Contribution margin ratio (percentage).3. Unit contribution margin (dollars per unit).
$2012
$ 8
Sales (50,000 units) $1,000,000Variable costs 600,000
Contribution margin $ 400,000
Fixed costs 300,000
Income from operations $ 100,000
Contribution Margin Ratio
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What is the
break-evenpoint?
Revenues Costs=
Break-even
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Calculating the Break-Even Point
At the break-even point, fixed
costs and the contribution
margin are equal.
Sales (? units) $ ?
Variable costs ?
Contribution margin $ 90,000
Fixed costs 90,000
Income from operations $ 0
$25
15
$10
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Sales ($25 x ? units) $ ?
Variable costs ($15 x ? units) ?
Contribution margin $ 90,000
Fixed costs 90,000
Income from operations $ 0
$25
15
$10
Break-even sales (units) = Unit contribution margin
Fixed costs$90,000
$109,000 units
Sales ($25 x 9,000) $225,000
Variable costs ($15 x 9,000) 135,000
Contribution margin $ 90,000
Fixed costs 90,000
Income from operations $ 0
PROOF!
Calculating the Break-Even PointIn Units
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Sales ($250 x ? units) $ ?
Variable costs ($145 x ? units) ?
Contribution margin $ ?
Fixed costs 840,000
Income from operations $ 0
$250
145
$105
Break-even sales (units) = Unit contribution margin
Fixed costs$840,000
$1058,000 units
Calculating the Break-Even PointIn Units
The unit selling price is $250 and unit variable
cost is $145. Fixed costs are $840,000.
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Sales ($25 x ? units) $ ?
Variable costs ($15 x ? units) ?
Contribution margin $ ?
Fixed costs 840,000
Income from operations $ 0
$250
145
$105
Break-even sales (units) = Unit contribution margin
Fixed costs$840,000
$1008,400 units
$250
150
$100
Next, assume
variable costs is
increased by $5.
Calculating the Break-Even PointIn Units
The unit selling price is $250 and unit variable
cost is $145. Fixed costs are $840,000.
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Sales $ ?
Variable costs ?
Contribution margin $ ?
Fixed costs $600,000
Income from operations $ 0
Break-even sales (units) = Unit contribution margin
Fixed costs$600,000
$3020,000 units
$50
30
$20
$60
30
$30
Calculating the Break-Even PointIn Units
Management increasesthe selling price from
$50 to $60.
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Summary of Effects of Changes on
Break-Even Point
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Target Profit
Fixed costs are estimated at $200,000, and the
desired profit is $100,000. The unit selling
price is $75 and the unit variable cost is $45.
The firm wishes to make a $100,000 profit.
Sales (? units) $ ?
Variable costs ?
Contribution margin $ ?
Fixed costs 200,000Income from operations $ 0
$75
45
$35
In
Units
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Sales (? units) $ ?
Variable costs ?
Contribution margin $ ?
Fixed costs 200,000Income from operations $ 0
Sales (units) = Unit contribution margin
Fixed costs + desired profit$200,000 + $100,000
$3010,000 units
Target Profit InUnits
$75
45
$35
Target profit isused here to refer
to Income from
operations.
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$75
45
$30
Sales (10,000 units x $75) $750,000
Variable costs (10,000 x $45) 450,000
Contribution margin $300,000
Fixed costs 200,000Income from operations $100,000
Proof that sales of 10,000 units
will provide a profit of $100,000.
Target Profit
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Graphic Approach to
Cost-Volume-Profit
Analysis
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Cost-Volume-Profit Chart
S
alesandCosts($0
00)
0
Units of Sales (000)
$500
$450
$400$350
$300
$250
$200
$150$100
$ 50
Unit selling price $ 50
Unit variable cost 30
Unit contribution margin $ 20
Total fixed costs $100,000
60%
Total Sales
VariableCosts
1 2 3 4 5 6 7 8 9 10
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Cost-Volume-Profit Chart
S
alesandCosts($000)
0
Units of Sales (000)
$500
$450
$400$350
$300
$250
$200
$150$100
$ 50
Unit selling price $ 50
Unit variable cost 30
Unit contribution margin $ 20
Total fixed costs $100,000
60%
40%
ContributionMargin
100%
60%
40%
1 2 3 4 5 6 7 8 9 10
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Cost-Volume-Profit Chart
S
alesandCosts($000)
0
Units of Sales (000)
$500
$450
$400$350
$300
$250
$200
$150$100
$ 50
Unit selling price $ 50
Unit variable cost 30
Unit contribution margin $ 20
Total fixed costs $100,000
Fixed Costs
100%
60%
40%
Total
Costs
1 2 3 4 5 6 7 8 9 10
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Cost-Volume-Profit Chart
S
alesandCosts($000)
0
$500
$450
$400$350
$300
$250
$200
$150$100
$ 50
1 2 3 4 5 6 7 8 9 10
Break-Even Point
Units of Sales (000)
Unit selling price $ 50
Unit variable cost 30
Unit contribution margin $ 20
Total fixed costs $100,000
100%
60%
40%
$100,000
$20= 5,000 units
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Cost-Volume-Profit Chart
S
alesandCosts($000)
0
Units of Sales (000)
$500
$450
$400$350
$300
$250
$200
$150$100
$ 50
Unit selling price $ 50
Unit variable cost 30
Unit contribution margin $ 20
Total fixed costs $100,000
100%
60%
40%
Operating Profit Area
Operating Loss Area
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$100
$75
$50$25
$ 0
$(25)
$(50)
$(75)$(100)
Sales (10,000 units x $50) $500,000
Variable costs (10,000 units x $30) 300,000
Contribution margin (10,000 units x $20) $200,000
Fixed costs 100,000
Operating profit $100,000
Units of Sales (000s)
1 2 3 4 5 6 7 8 9 10
Relevant
range is10,000 units
OperatingProfit
(Loss)$000s
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Units of Sales (000s)
1 2 3 4 5 6 7 8 9 10
Maximum loss is
equal to the total
fixed costs.
Profit Line
Operating
loss
Operatingprofit
$100
$75
$50$25
$ 0
$(25)
$(50)
$(75)$(100)
Sales (10,000 units x $50) $500,000
Variable costs (10,000 units x $30) 300,000
Contribution margin (10,000 units x $20) $200,000
Fixed costs 100,000
Operating profit $100,000
Maximum
profit within
the relevantrange.
OperatingProfit
(Loss)$000s
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OperatingProfit
(Loss)$000s
Units of Sales (000s)
1 2 3 4 5 6 7 8 9 10
Operating
loss
Operatingprofit
Break-Even Point
Sales (10,000 units x $50) $500,000
Variable costs (10,000 units x $30) 300,000
Contribution margin (10,000 units x $20) $200,000
Fixed costs 100,000
Operating profit $100,000
$100
$75
$50$25
$ 0
$(25)
$(50)
$(75)$(100)
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Sales Mix
Considerations
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Cascade Company sold 8,000 units of Product A
and 2,000 units of Product B during the past year.Cascade Companys fixed costs are $200,000.
Other relevant data are as follows:
Sales $ 90 $140
Variable costs 70 95
Contribution margin $ 20 $ 45Sales mix 80% 20%
Products
A B
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Sales $ 90 $140
Variable costs 70 95
Contribution margin $ 20 $ 45Sales mix 80% 20%
Sales Mix Considerations
Products
A B
Product contribution
margin $16 $ 9
$25
Fixed costs, $200,000
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Sales Mix Considerations
Products
A BProduct contribution
margin $16 $ 9
$25
Break-even sales units
$200,000
$25
Fixed costs, $200,000
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Sales Mix Considerations
Products
A BProduct contribution
margin $16 $ 9
$25
Break-even sales units
$200,000
$25
Fixed costs, $200,000
= 8,000 units
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Sales Mix Considerations
Products
A BProduct contribution
margin $16 $ 9
$25
A: 8,000 units x Sales Mix (80%) = 6,400
B: 8,000 units x Sales Mix (20%) = 1,600
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PROOF
Product A Product B Total
Sales:
6,400 units x $90 $576,000 $576,000
1,600 units x $140 $224,000 224,000
Total sales $576,000 $224,000 $800,000
Variable costs:
6,400 x $70 $448,000 $448,0001,600 x $95 $152,000 152,000
Total variable costs $448,000 $152,000 $600,000
Contribution margin $128,000 $ 72,000 $200,000
Fixed costs 200,000
Income from operations $ 0Break-even point
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Margin
of Safety
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Margin of Safety =SalesSales at break-even point
Sales
The margin of safety indicates the
possible decrease in sales that may occur
before an operating loss results.
Margin of Safety =$250,000$200,000
$250,000
Margin of Safety = 20%
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Operating Leverage
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Both companies have the same contribution margin.
Operating Leverage
Jones Inc. Wilson Inc.
Contribution margin
Income from operations
Sales $400,000 $400,000
Variable costs 300,000 300,000
Contribution margin $100,000 $100,000Fixed costs 80,000 50,000
Income from operations $ 20,000 $ 50,000
Contribution margin ? ?
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Contribution margin
Income from operations
Jones Inc. Wilson Inc.
$100,000
$20,000= 5.0Jones Inc.:
Operating Leverage
5.0
Sales $400,000 $400,000
Variable costs 300,000 300,000
Contribution margin $100,000 $100,000Fixed costs 80,000 50,000
Income from operations $ 20,000 $ 50,000
Contribution margin ?
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Contribution margin
Income from operations
Jones Inc. Wilson Inc.
= 5.0$100,000
$20,000Jones Inc.
Operating Leverage
Sales $400,000 $400,000
Variable costs 300,000 300,000
Contribution margin $100,000 $100,000Fixed costs 80,000 50,000
Income from operations $ 20,000 $ 50,000
Contribution margin 5.0 ?
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Contribution margin
Income from operations
Jones Inc. Wilson Inc.
= 2.0$100,000
$50,000Wilson Inc.:
Capitalintensive?
Laborintensive?
2.0
Operating Leverage
Sales $400,000 $400,000
Variable costs 300,000 300,000
Contribution margin $100,000 $100,000Fixed costs 80,000 50,000
Income from operations $ 20,000 $ 50,000
Contribution margin 5.0
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Assumptions of Cost-Volume-Profit Analysis
1. Total sales and total costs can berepresented by straight lines.
2. Within the relevant rangeof operatingactivity, the efficiency of operations doesnot change.
3. Costs can be accurately divided intofixed
and variablecomponents.4. The sales mix is constant.5. There is no change in the inventory
quantities during the period.
The reliability of cost-volume-profit analysis
depends upon several assumptions.
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The End
Chapter 20