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1、ACCT2102Lecture3:CostBehaviour&Cost–Volume–Profit(CVP)Analysis1Reading:Lecturenotes&Horngrenetal.Chapter3andChapter10(pp.340-357)LearningObjectivesReviewofmanufacturingcostbehaviour.IdentifyanddiscussdifferentcostestimationapproachesCost-Volume-Profit(CVP)AnalysisExplaintheeffec
2、tofincometax.Introducemultipleproducts.Explainwhatisoperatingleverageanddiscusstheeffectofahigh/lowoperatingleverage.2Summaryofsomeclassifications:CostClassificationBasisforClassificationManufacturing/NonMfgFunctionalcharacteristicsofthecostsProductorPeriodAsabove+timingofrecogn
3、itionDirectorIndirectTraceabilityDirectMaterial,DirectLabourandMfgoverheadTypesofMfgcostsFixedorVariableDependsontherelationshipbetweentotalcostandactivity/volume31.ReviewofManufacturingCostBehaviour4Fromaplanningandcontrolpointofview,themostusefulwaytoclassifycostsisbybehaviour
4、.Knowinghowandwhycostsbehavewillhelpmanagerstoperformplanningandcontrolactivitieseffectively.PredictingCostbehaviourHowacostwillreacttochangesinthelevelofbusinessactivity/volume?-Totalvariablecostschangewhenactivitychanges.-Totalfixedcostsremainunchangedwhenactivitychanges.5Cost
5、BehaviourandFunctionsACostFunctionisamathematicalexpressiondescribinghowcostschangewithchangesinthelevelofanactivityLinearCostFunction:y=a+bxExamplesofcostFunctions: 1.VariableCost:y=bx2.FixedCost:y=a3.MixedorSemi-variablecost:y=a+bx6VariableCosts-InTotal7TotalCosts(y) $Volumeof
6、Activity(x)b=slopeY=a+b*X;Whatisthevalueofa?Whatisthevalueofb?050$30120$72VariableCosts:Totalcostchangesindirectproportiontochangesinthelevelofactivity/volume(eg.,productionvolume).Consumptionoftheseresourcescanbeadjustedtomatchthedemandforthem(e.g.directmaterials&directlabour)F
7、ixedCosts-InTotal8TotalCost(y) $Volumeofactivity (X)$10,000y=a+bx;Whatisthevalueof‘a(chǎn)’and‘b’here?50010000FixedCosts:Totalcostdoesnotchangewithchangesinthelevelofactivity(eg.,productionvolume)overshortperiodsoftime.Thesecosts(eg.Factoryrent,straightlinedepreciation)areindependento
8、fthelevelofactivityandcannotbepurchasedinsmalli
