hnd财政预算报告范本(英文版)(pdf 8页)

n更多企业学院： 中小企业管理全能版183套讲座+89700份资料总经理、高层管理49套讲座+16388份资料中层管理学院46套讲座+6020份资料国学智慧、易经46套讲座人力资源学院56套讲座+27123份资料各阶段员工培训学院77套讲座+ 324份资料员工管理企业学院67套讲座+ 8720份资料工厂生产管理学院52套讲座+ 13920份资料财务管理学院53套讲座+ 17945份资料销售经理学院56套讲座+ 14350份资料销售人员培训学院72套讲座+ 4879份资料IntroductionTricol plc a company who makes a range of furniture and kitchenware. And one of its most popular products is the Zupper expandable table.The purpose of writing this report is to do the variance analysis, project evaluation and to compare the budget and actual data by using the technique.FindingsPart A Possible Reason for Variances1. MaterialDirect Material Total - 2,400 F made up:Direct Material Usage 20000 F (Level of significance usage/total budgeted Material costs = 8,000/64,000 = 12.5% 3%, should be reviewed) 2000 kg less materials are used than budgeted for the actual level of production. Possible reason may be using the higher-grade material with less wastage. Or the new machinery use less materials and incurs less wstage.Direct Material Price 5,600 A (5,600/64,000=8.75% 3%)It is 1 per kg more expensive than plannedPossible reason:New material supplier does not give discounts for materials.Hither-grade materials have been used which is more expensive.2. LabourDirect Labour Total - 6,400A Direct Labour Rate 3,520A(3,520/28,800=12.2%3%)On average, the actual labour rate is 1/hour higher than budgetedPossible reason:The wage settlement is higher than expectedThe new machine requires trainings so that overtime required more than expected.Direct labour Efficiency - 2000 A3%)4.16%Actually, more than 200 labour hours have been used than budgeted. Possible reason:New machinery requires more hours for training.Human resource issues the skilled operatives is not enough.3Total Overhead - 600 F Rate is 4.70%Unpredicted increase in insurance and Administration costsPossible reason:New machinery brings more expensive insurance, higher maintenance and additional administrative costs.Part B 1. Key assumptions made: a) There is no taxation and inflation.b) Assumed that there is no vary given return market rate.c) The total cost of the project will be payable at the startd) The expected revenue from the investment this is the expected Net Cash Flow after deduction of all relevant costs2. PaybackPayback in this case is 4.125 years (total investment-return period is five years). So the company can get back the investment.The Net Present Value is - 64，800. It indicates that the project does not appear to be financially viable.ConclusionPart B This project is available because the payback is 4.125years.But the Net Present Value (NPV) is negative. So the project is not available.However, we should use the conclusion of the Net Present Value because the Net Present Value (NPV) considered the time value of money. RecommendationsPart ARecommendations for management action: 1. All the variances should be analysis because all of them are above 3%, the level of significance.2. Particularly, the direct labour variances need further investigation why is the company paying a higher wage rate but the labour productivity is lower than planned.Part B1. To consider the effect of the new facilities on companys own staff in terms of employment and redeployment opportunities.2. To consider any changes in any other areas, like social, political, economic, legal and technological factors.3. Whether it is possible for the company to raise the sufficient funds to consider if the current cash flow position can support such an investment.AppendixPart A1.Table 1 Tricol plc Flexed Budget for JuneTricol plc Flexed Budget For JuneFixed Budget2,000 unitsFlexed Budget1,600 unitsActual 1,600 unitsVarianceA/FDirect Material10*4*2,000=80,00010*4*1,600=64,00061,6002,400FDirect Labor2*9*2,000=36,0002*9*1,600=28,80035,2006,400AVariable Production Overheads2*2,000=4,0002*1,600=3,2003,2000Insurance costs2,2002,2002,400200ADepreciation1,5001,5001,5000Rent and Rates2,5002,5002,5000Administration Overheads2,0002,0002,200200AFixed Overheads8,2008,2008,600400 ATotal128,200104,200108,6004,400A2. Further Variance AnalysisThe calculation of the variances a) Direct material total :(Budgeted Quantity*Budgeted Price) (Actual Quantity*Actual Price)=(4kg*1,600*10per kg) - (5,600kg*11 per kg)=64,000-61,600=2,400 Fb) Direct material usage : Budgeted price* (Budgeted Quantity Actual Quantity) =10per kg * (4kg * 1,600-5,600kg)= 8,000 Fc) Direct material price :Actual Quantity* (Budgeted price Actual price)=5,600kg*(10 per kg -11 per kg)=5,600Ad) Direct labor total :Budgeted Hours*Budgeted Rate Actual hours*Actual Rate=(2hours*1600*9)- 35200=6,400Ae) Direct labor rate :Actual Hours*(Budgeted Rate Actual Rate)=3,520hours*(9-10)= 3,520Af) Direct labor efficiency :Budgeted Rate*(Budgeted Hours Actual Hours)=9-(2hours*1600-3520hours)= 2,880Ag) Total overhead : (Budget Variable Overhead + Budget Fixed Overhead) - (Actual Variable Overhead + Actual Fixed Overhead) = (4000 + 8200) - (3200 + 8600) = 400 FPart B1. Payback period method YearYearly net cash flowCumulative cash flow 0(1,000,000)(1,000,000)1160,000(840,000)2160,000(680,000)3320,000(360,000)4320,000(40,000)5320,000280,000Net cash benefits 280,000280,000Payback = 4 + 40,000/320,000= 4.125 years2. Discount cash flow technique(net present value) C