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1、ManagementAccountiManagementAccountingChapter8ngChapter8预算预算8 -2 After studying this chapter, you should be able to:1. Discuss budgeting and its role in planning, control, and decision making.2.Define and prepare a master budget, identify its major components, and explain the interrelationships of i
2、ts various components.3. Describe flexible budgeting, and list the features that a budgetary system should have to encourage managers to engage in goal-congruent适合的 behavior.4. Explain how activity-based budgeting works.Objectives8 -3 Strategic PlanStrategic PlanShort-Term Short-Term ObjectivesObjec
3、tivesShort-Term Short-Term PlanPlanBudgetsBudgetsFeedbackFeedbackPlanningLong-Term Long-Term ObjectivesObjectives一、一、The role of Budgeting in Planning 计划计划, Control控制控制 and Decision Making8 -4 Strategic PlanStrategic PlanShort-Term Short-Term ObjectivesObjectivesShort-Term Short-Term PlanPlanBudgets
4、BudgetsFeedbackFeedbackPlanningControlMonitoring of Monitoring of Actual ActivityActual ActivityInvestigationInvestigationCorrective ActionCorrective ActionLong-Term Long-Term ObjectivesObjectivesComparison of Comparison of Actual with Actual with PlannedPlanned8 -5 Advantages优点 of Budgeting1. It fo
5、rces迫使 managers to plan.2. It provides information that can be used to improve改善 decision making.3. It provides a standard标准 for performance业绩 evaluation评估.4. It improves communication沟通 and coordination协调.8 -6 二、The master budget总预算 is the comprehensive 综合的financial plan for the organization as a w
6、hole.Typically, the master budget is for a one-year period corresponding to the fiscal year.8 -7 A master budget can be dividing into operating budgets业务预算 and financial budgets财务预算. 8 -8 Operating budgets describe the income-generating activities of a firm. Financial budgets detail the inflows流进 an
7、d outflows流出 of cash and the overall financial position.8 -9 Preparing the Operating BudgetSales budget 销售Production budget 生产Direct materials purchases budget 直接材料Direct labor budget 直接人工Overhead budget 间接费用Selling and administrative expenses budgetEnding finished goods inventory budget期末库存Cost of
8、goods sold budget 销货成本8 -10 Schedule 1Schedule 1Texas Rex, Inc.Texas Rex, Inc.Sales BudgetSales BudgetFor the Year Ended December 31, 2004For the Year Ended December 31, 2004 QuarterQuarter 1 2 3 4 Year 1 2 3 4 YearUnits1,0001,2001,5002,0005,700Unit selling price x $10 x $10 x $10 x $10 x $10Budgete
9、d sales $10,000 $12,000 $15,000 $20,000 $57,0008 -11 Computing Units to be ProducedUnits to be produced = Expected unit sales + Units in ending inventory Units in beginning inventory8 -12 Schedule 2Texas Rex, Inc.Production BudgetFor the Year Ended December 31, 2004 QuarterQuarter 1 2 3 4 Year 1 2 3
10、 4 YearSales (Schedule 1)1,0001,2001,5002,0005,700Desired ending inventory 240 300 400 200 200Total needs1,2401,5001,9002,2005,900Less: Beginning inventory -180 -240 -300 -400 -180Units to be produced1,0601,2601,6001,8005,7208 -13 Computing Units to be Purchased采购采购Purchases = Direct materials neede
11、d for production + Desired direct materials in ending inventory Direct materials in beginning inventory8 -14 Schedule 3Texas Rex, Inc.Direct Materials Purchases BudgetFor the Year Ended December 31, 2004 QuarterQuarter 1 2 3 4 Year 1 2 3 4 YearUnits to be produced(Schedule 2)1,0601,2601,6001,8005,72
12、0Direct materials perunit x 1x 1x 1x 1 x 1 Production needs1,0601,2601,6001,8005,720Desired ending inventory 126 160 180 106 106Total needs1,1861,4201,7801,9065,826ContinuedContinuedPlain T-Shirts8 -15 Quarter 1 2 3 4 YearTotal needs1,1861,4201,7801,9065,826Less: beginninginventory -58 -126 -160 -18
13、0 -58Direct materials tobe purchased1,1281,2941,6201,7265,768Cost per poundx $3x $3x $3x $3 x $3 Total purchase cost plain t-shirts$3,384$3,882$4,860$5,178 $17,3048 -16 Schedule 3Texas Rex, Inc.Direct Materials Purchases BudgetFor the Year Ended December 31, 2004 QuarterQuarter 1 2 3 4 Year 1 2 3 4
14、YearUnits to be produced(Schedule 2)1,0601,2601,6001,8005,720Direct materials perunit x 5x 5x 5x 5 x 5 Production needs5,3006,3008,0009,00028,600Desired ending inventory 630 800 900 530 530Total needs5,9307,1008,9009,53029,130ContinuedContinued8 -17 QuarterQuarter 1 2 3 4 Year 1 2 3 4 YearTotal need
15、s5,9307,1008,9009,53029,130Less: beginninginventory -390 -630 -800 -900 -390Direct materials tobe purchased5,5406,4708,1008,63028,740Cost per ouncex $0.20x $0.20x $0.20 x $0.20 x $0.20 Total purchase cost of ink$ 1,108$ 1,294$ 1,620 $ 1,726 $ 5,748Total directTotal directmaterials pur-materials pur-
16、chases costchases cost$4,492$4,492$5,176$5,176$6,480$6,480$6,904$6,904 $23,052$23,0528 -18 QuarterQuarter 1 2 3 4 Year 1 2 3 4 YearUnits to be produced(Schedule 2)1,0601,2601,6001,8005,720Direct labor timeper unit (hr.)x 0.12x 0.12x 0.12x 0.12x 0.12Total hours needed127.2151.2192216686.4Average wage
17、 perhour x $10x $10 x $10 x $10 x $10Total direct laborcost$1,272$1,512$1,920$2,160$6,864Schedule 4Schedule 4Texas Rex, Inc.Texas Rex, Inc.Direct Labor BudgetDirect Labor BudgetFor the Year Ended December 31, 2004For the Year Ended December 31, 20048 -19 Schedule 5Schedule 5Texas Rex, Inc.Texas Rex,
18、 Inc.Overhead BudgetOverhead BudgetFor the Year Ended December 31, 2004For the Year Ended December 31, 2004 QuarterQuarter 1 2 3 4 Year 1 2 3 4 YearBudgeted direct laborhours (Schedule 4) 127.2151.2192216686.4Variable overheadrate x $5x $5x $5x $5 x $5 Budgeted variableoverhead$ 636$ 756$ 960$1,080$
19、 3,432Budgeted fixedoverhead 1,645 1,645 1,645 1,645 6,580Total overhead$2,281$2,401$2,605$2,725$10,0128 -20 Schedule 6Texas Rex, Inc.Ending Finished Goods Inventory BudgetFor the Year Ended December 31, 2004Unit-cost computation:Direct materials ($3 + $1)$4.00Direct labor (0.12 hr. $10)1.20Overhead
20、:Variable (0.12 hr. $5)0.60Fixed (0.12 hr. $9.59) 1.15Total unit cost$6.95 Units Unit Cost TotalUnits Unit Cost Total Finished goods: Logo T-shirts 200 $6.95 $1,3908 -21 Schedule 7Schedule 7Texas Rex, Inc.Texas Rex, Inc.Cost of Goods Sold BudgetCost of Goods Sold BudgetFor the Year Ended December 31
21、, 2004For the Year Ended December 31, 2004Direct materials used (Schedule 3)$22,880Direct labor used (Schedule 4)6,864Overhead (Schedule 5) 10,012Budgeted manufacturing costs$39,756Beginning finished goods 1,251Goods available for sale$41,007Less: Ending finished goods (Sched. 6) - 1,390Budgeted cos
22、t of goods sold$39,6178 -22 Schedule 8Schedule 8Texas Rex, Inc.Texas Rex, Inc.Selling and Administrative Expenses BudgetSelling and Administrative Expenses BudgetFor the Year Ended December 31, 2004For the Year Ended December 31, 2004 Quarter 1 2 3 4 YearPlanned sales in units(Schedule 1)1,0001,2001
23、,5002,0005,700Variable selling and administrative expenses per unitx $0.10 x $0.10 x $0.10 x $0.10 x $0.10Total variableexpenses$ 100 $ 120 $ 150 $ 200 $ 570 ContinuedContinued8 -23 Fixed selling and admin-istrative expenses:Salaries$1,420$1,420$1,420 $1,420 $5,680Utilities50505050200Advertising1002
24、003005001,100Depreciation150150150150600Insurance - - 500 - 500Total fixed expenses $1,720$1,820$2,420 $2,120 $8,080Total selling and admin-istrative expenses$1,820$1,940$2,570 $2,320 $8,650 Quarter 1 2 3 4 Year8 -24 Sales (Schedule 1) $57,000Less: Cost of goods sold (Schedule 7) -39,617Gross margin
25、$17,383Less: Selling and administrative expenses (Schedule 8) -8,660Operating income $ 8,733Less: Interest expense (Schedule 10) - 60Income before taxes$ 8,673Less: Income taxes (Schedule 10) -2,550Net income$ 6,123Schedule 9Texas Rex, Inc.Budgeted Income StatementFor the Year Ended December 31, 200
26、48 -25 1.The cash budget现金预算2.The budgeted balance sheet预计资产负债表3.The budget for capital expenditures资本支出预算The Usual Financial Budgets常见的财务预算常见的财务预算8 -26 The Cash BudgetBeginning期初 cash balancexxxAdd: Cash receiptsxxxCash available可用xxxLess: Cash disbursements支出xxxLess: Minimum至少 cash balance余额xxxCas
27、h surplus 余(deficiency缺)xxxAdd: Cash from loans贷款xxxLess: Loan repayments还贷xxxAdd: Minimum cash balance最低持有量xxxEnding期末 cash balancexxx8 -27 1. The Cash BudgetBeginning cash balance$ 5,200Add: Cash receipts (cash and credit sales) 10,600Total cash available 15,800Less: Cash disbursements-15,777Less:
28、 Minimum cash balance - 1,000Total cash needs -16,777Excess or deficiency (-) of cash- 977Add: Cash from loans1,000Less: Loan repayments -Ending cash balance$ 1,023Texas Rex, Inc. 1st Quarter$1,000 (loan) - $977 + $1,000 (minimum cash balance)8 -28 Texas Rex, Inc.Texas Rex, Inc.Cash Receipts Pattern
29、 for 2006Cash Receipts Pattern for 2006 Source Quarter 1 Quarter 2 Quarter 3 Quarter 4 Source Quarter 1 Quarter 2 Quarter 3 Quarter 4Cash sales$ 2,500$ 3,000$ 3,750$ 5,000Received onaccount from:Quarter 4, 20031,350Quarter 1, 20046,750750Quarter 2, 20048,100900Quarter 3, 200410,1251,125Quarter 4, 20
30、04 - - - 13,500Total cash receipts $10,600$11,850$14,775$19,6258 -29 2. Schedule 11Schedule 11Texas Rex, Inc.Texas Rex, Inc.Budgeted Balance SheetBudgeted Balance SheetContinuedContinued8 -30 Schedule 11Schedule 11Texas Rex, Inc.Texas Rex, Inc.Budgeted Balance SheetBudgeted Balance SheetDecember 31,
31、 2006December 31, 2006AssetsCurrent assets:Cash$ 7,503Accounts receivable1,500Materials inventory424Finished goods inventory 1,390Total current assets$10,817Property, plant, and equipment:Land$ 1,100Building and equipment36,500Accumulated depreciation -7,760Total property, plant, and equipment 29,84
32、0Total assets$40,657ContinuedContinued8 -31 Liabilities and Owners EquityCurrent liabilities:Accounts payable$ 1,381Owners equity:Retained earnings$39,276Total owners equity 39,276Total liabilities and owners equity$40,6578 -32 Cash Cash BudgetBudgetSales BudgetSales BudgetProduction BudgetProductio
33、n BudgetDirect Materials Direct Materials Purchases BudgetPurchases BudgetDirect Labor Direct Labor BudgetBudgetOverhead Overhead BudgetBudgetThe Master Budget8 -33 Sales BudgetSales BudgetProduction BudgetProduction BudgetDirect Materials Direct Materials Purchases BudgetPurchases BudgetDirect Labo
34、r Direct Labor BudgetBudgetOverhead Overhead BudgetBudgetCash Cash BudgetBudgetEnding FG Ending FG Inventory BudgetInventory Budget(Unit cost)The Master Budget8 -34 Selling and Selling and Administrative Administrative Expenses Expenses BudgetBudgetSales BudgetSales BudgetProduction BudgetProduction
35、 BudgetDirect Materials Direct Materials Purchases BudgetPurchases BudgetDirect Labor Direct Labor BudgetBudgetOverhead Overhead BudgetBudgetCash Cash BudgetBudgetCost of Goods Cost of Goods Sold BudgetSold BudgetBudgeted ISBudgeted ISThe Master BudgetEnding FG Ending FG Inventory BudgetInventory Bu
36、dget8 -35 A static(静态) budget is a budget for a particular level of activity.A flexible (弹性) budget is a budget that provides a firm with the capability to compute expected costs for a range of activity. 它按预算内可预见的多种业务活动它按预算内可预见的多种业务活动水平确定或调整不同的预算额。水平确定或调整不同的预算额。通通过将实际指标与实际业务量相应的预算额进行对比，过将实际指标与实际业务量相
37、应的预算额进行对比，使评价和考核建立在更加客观可比的基础上，更好使评价和考核建立在更加客观可比的基础上，更好地发挥预算控制作用。地发挥预算控制作用。 中文定义为：中文定义为：三、三、Flexible Budgets8 -36 Units produced1,2001,060 140 F Actual Budgeted Variance Actual Budgeted VarianceDirect materials cost$4,830 $4,240$590 UDirect labor costs1,4401,272168 UFixed overhead:Variable:Supplies53
38、547758 UPower17015911 UFixed:Supervision1,0551,105-50 FDepreciation 540 540 - Total$8,570$7,793$777 UPerformance Report Quarterly Production Costs8 -37 The flexible budget can be used to prepare the budget before the fact for the expected level of activity.Flexible budgeting can be used to compute w
39、hat costs should have been for the actual level of activity.Flexible budgeting can help managers deal with uncertainty by allowing them to see the expected outcomes for a range of activities.The Uses of Flexible Budget8 -38 Variable overhead:Direct materials$4.00$4,000$4,800 $5,600Direct labor1.201,
40、2001,4401,680Variable overhead:Supplies0.45450540630Power 0.15 150 180 210Total variable costs$5.80$5,800$6,960 $8,120 Range of Production (units)Range of Production (units) Production Costs 1,000 1,200 1,400 Production Costs 1,000 1,200 1,400 Variable Cost Variable Cost per Unitper UnitFixed overhe
41、ad:Supervision$1,105$1,105 $1,105Depreciation 540 540 540Total fixed costs$1,645$1,645 $1,645Total production costs$7,445$8,605 $9,765 Flexible Production Budget8 -39 Units produced 1,200 1, 200 - Actual Budget Variance Actual Budget VarianceDirect materials $4,830$4,800 $30 UDirect labor 1,4401, 44
42、0-Variable overhead:Supplies535540-5 FPower 170 180 -10 FTotal variable costs$6,975$6,960 $15 FPerformance Report Quarterly Production CostsContinuedContinued8 -40 Units produced 1,200 1, 200 - Actual Budget Variance Actual Budget VarianceFixed overhead:Supervision1,0551,105 -50 FDepreciation 540 54
43、0 -Total fixed costs$1,595$1,645-$50 FTotal production costs$8,570$8,605$35 UPerformance Report Quarterly Production Costs8 -41 Goal congruence 目标的适宜性目标的适宜性Dysfunctional behavior 紊乱的行为紊乱的行为Frequent频繁频繁 feedback on performanceMonetary and nonmonetary incentives激励激励Participative budgetingRealistic sta
44、ndardsControllability of costsMultiple多重多重 measures of performance业绩衡量指标业绩衡量指标Behavior Dimensions行为面行为面 of Budgeting8 -42 Participative budgeting has three potential problems 参与性预算的参与性预算的3个潜在问题个潜在问题:1.Setting standards that are either too high or too low.2.Building slack松弛、懒散 into the budget.3.Pseud
45、oparticipation 伪参与.8 -43 四、四、Activity-Based BudgetingActivity flexible budgeting 基于作业的预算 is the prediction of what activity costs will be as activity output changes.8 -44 重温重温:Flexible Budget: Direct Labor Hours Cost Formula Direct Labor Hours Direct materials-$10 $100,000$200,000Direct labor-880,00
46、0160,000Maintenance $ 20,000350,00080,000Machining15,000125,00035,000Inspections120,000-120,000120,000Setups50,000-50,00050,000Purchasing 220,000 - 220,000 220,000Total$425,000$22$645,000$865,000 Fixed Variable 10,000 20,0008 -45 Driver: Direct Labor Hours Formula Level of ActivityDirect materials-$
47、10$100,000$200,000Direct labor- 8 80,000 160,000Subtotal $0$18$180,000$360,000Driver: Machine HoursMaintenance$20,000$5.50$64,000$108,000Machining 15,000 2.00 31,000 47,000Subtotal$35,000$7.50$95,000$155,000然而然而, Activity Flexible Budget:ContinuedContinued Fixed Variable 10,000 20,000 Fixed Variable
48、 8,000 16,0008 -46 Driver: Number of Setups Fixed Variable2530Inspections$80,000$2,100$132,500$143,000Setups - 1,800 45,000 54,000Subtotal$80,000$3,900$177,500$197,000Driver: Number of Orders Fixed Variable 15,000 25,000Purchasing$211,000$ 1$226,000$236,000Total$678,500$948,000Activity Flexible Budg
49、et8 -47 Actual Costs Budgeted Costs Budget VarianceDirect materials 101,000100,000$ 1,000UDirect labor80,00080,000-Maintenance55,00064,000(9,000)FMachining29,00031,000(2,000)FInspections125,500132,500(7,000)FSetups46,50045,0001,500UPurchasing 220,000226,000 (6,000)FTotal$657,000$678,500($21,500)FActivity-Based Performance Report业绩报告8 -48 Variances for the Inspection Activity将预算差异分解成将预算差异分解成V. 和和F.两部分：两部分：Activity Actual Cost Budgeted Cost VarianceInspection:Fixed$ 82,000$ 80,000$2,000 UVariable 43,500 52,500 (9,000) F Total$125,500$132,500($7,000) F8 -49 The EndChapter Eight
