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1、Cost-Volume-Profit Relationships,Chapter 3,Introduction,This chapter examines one of the most basic planning tools available to managers: cost-volume-profit analysis. Cost-volume-profit analysis examines the behavior of total revenues, total costs, and operating income as changes occur in the output
2、 level, selling price, variable costs per unit, or fixed costs.,Learning Objectives,Understand basic cost-volume-profit (CVP) assumptions Explain essential features of CVP analysis Determine the breakeven point and target operating income using the equation, contribution margin, and graph methods,Le
3、arning Objectives,Incorporate income tax considerations into CVP analysis Explain the use of CVP analysis in decision making and how sensitivity analysis can help managers cope with uncertainty Use CVP analysis to plan costs,Learning Objectives,Apply CVP analysis to a multi-product company Distingui
4、sh between contribution margin and gross margin Adapt CVP analysis to multiple cost driver situations,Learning Objective 1,Understand basic cost-volume-profit (CVP) assumptions,Cost-Volume-Profit Assumptions and Terminology,Changes in the level of revenues and costs arise only because of changes in
5、the number of product (or service) units produced and sold. Total costs can be divided into a fixed component and a component that is variable with respect to the level of output.,Cost-Volume-Profit Assumptions and Terminology,When graphed, the behavior of total revenues and total costs is linear (s
6、traight-line) in relation to output units within the relevant range (and time period). The unit selling price, unit variable costs, and fixed costs are known and constant.,Cost-Volume-Profit Assumptions and Terminology,The analysis either covers a single product or assumes that the sales mix when mu
7、ltiple products are sold will remain constant as the level of total units sold changes. All revenues and costs can be added and compared without taking into account the time value of money.,Cost-Volume-Profit Assumptions and Terminology,Operating income = Total revenues from operations Cost of goods
8、 sold and operating costs (excluding income taxes) Net Income = Operating income + Nonoperating revenues (such as interest revenue) Nonoperating costs (such as interest cost) Income taxes,Learning Objective 2,Explain essential features of CVP analysis,Essentials of Cost-Volume-Profit (CVP) Analysis,
9、Assume that Dresses by Mary can purchase dresses for $32 from a local factory; other variable costs amount to $10 per dress. Because she plans to sell these dresses overseas, the local factory allows Mary to return all unsold dresses and receive a full $32 refund per dress within one year.,Essential
10、s of Cost-Volume-Profit (CVP) Analysis,Mary can use CVP analysis to examine changes in operating income as a result of selling different quantities of dresses. Assume that the average selling price per dress is $70 and total fixed costs amount to $84,000. How much revenue will she receive if she sel
11、ls 2,500 dresses?,Essentials of Cost-Volume-Profit (CVP) Analysis,2,500 $70 = $175,000 How much variable costs will she incur? 2,500 $42 = $105,000 Would she show an operating income or an operating loss? An operating loss $175,000 105,000 84,000 = ($14,000),Essentials of Cost-Volume-Profit (CVP) An
12、alysis,The only numbers that change are total revenues and total variable cost. Total revenues total variable costs = Contribution margin Contribution margin per unit = selling price variable cost per unit What is Marys contribution margin per unit?,Essentials of Cost-Volume-Profit (CVP) Analysis,$7
13、0 $42 = $28 contribution margin per unit What is the total contribution margin when 2,500 dresses are sold? 2,500 $28 = $70,000,Essentials of Cost-Volume-Profit (CVP) Analysis,Contribution margin percentage (contribution margin ratio) is the contribution margin per unit divided by the selling price.
14、 What is Marys contribution margin percentage? $28 $70 = 40%,Essentials of Cost-Volume-Profit (CVP) Analysis,If Mary sells 3,000 dresses, revenues will be $210,000 and contribution margin would equal 40% $210,000 = $84,000.,Learning Objective 3,Determine the breakeven point and target operating inco
15、me using the equation, contribution margin, and graph methods,Breakeven Point.,is the sales level at which operating income is zero. At the breakeven point, sales minus variable expenses equals fixed expenses. Total revenues = Total costs,Abbreviations,USP = Unit selling price UVC = Unit variable co
16、sts UCM = Unit contribution margin CM% = Contribution margin percentage FC = Fixed costs,Abbreviations,Q = Quantity of output (units sold or manufactured) OI = Operating income TOI = Target operating income TNI = Target net income,Methods for Determining Breakeven Point,Breakeven can be computed by using either the equation method, the contribution margin method, or the graph method.,Equation Method,With the equation approach, breakeven sales in units is calculated as follows: (Unit
