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HND财政预算OUTCOME34报告你不过我从此消失!AfinancialanalysisreportforTricolplcOutcome3and4Class;10E6Name:MabodaSCN:125099297CandidateNum:22IntroductionTooperatebetterinfinancialaspect,themanagementofTricolplcaskedmetoanalyzetheirfinancialconditionthenmakerecommendationsforthem.FindingsPartA(ⅰ)Flexbudgetinlinewithactualactivity(ⅱ)Variancescalculation(Standardunitsofactualproduction*standardprice)-(actualquantity*actualprice)(4kg*1,600*£10)-£61,600=£2,400(F)Rateofsignificance:(3.75%)Standardprice*(standardunitsofactualproduction-actualquantity)£10*[(4kgⅹ1,600)-5,600kg]=£8,000(F)Rateofsignificance(12.5%)Actualquantity*(standardprice-actualprice)5,600kg*[£10-(£61,600/5,600kg)]=£(5,600)(A)Rateofsignificance:(8.75%)(Standardhoursofactualproduction*standardrateph)-(actualhours*actualrateph)[(2hrs*1,600)*£9]-£35,200=£(6,400)(A)Rateofsignificance:(22.22%)Standardrateph*(standardhoursofactualproduction-actualhours)£9*(2hrs*1,600-3,520hrs)=(2,880)(A)Rateofsignificance:(10%)Actualhours*(standardrateph–actualrateph)3,520hrs*(£9*-£35,200/3,520hrs)=£(3,520)(A)Rateofsignificance:(12.22%)Totalstandardoverheadforactualproduction-totalactualoverheads(£18,000/12+£2,500+£2,200+£2,000)-(£1,500+£2,500+£2,200+£2,400)=£(400)(A)Rateofsignificance:(3.5%)(ⅲ)Reportaboutvariances?DirectmaterialvarianceThedirectmaterialtotalvariancecanbeanalyzedintwoaspectswhicharedirectmaterialvolumeanddirectmaterialprice.Forvolumeside,ascalculatedabove,thebudgetvolumeis6400kg;theactualvolumeis5600kg.Sothereis800kgvariancewhichisfavorableandeachunitvarianceis0.5kg.Thelikelyreasoncausingthevariancecomesfromthreeaspects.Firstofall,thecompanyupgradedtheproductionmachineryrecently,andnewmachinemayusematerialsefficiently,soitreducedthewasteofmaterials.Secondly,thecompanyswitchedsuppliersandusinghigher-gradematerialscandecreasewasteofmaterialstoo.Finally,thecompanyhasconcludedahigher-than-expectedwagesettlementforproductionoperatives,whichwillmaintainemployeeswithhigherskillsaswellasdecreaseturnoverofemployees,anditalsocanincreaseefficiencyinusingmaterials.Forpriceaspect,thebudgetpriceis£10perkg,andtheactualpriceis£11perkg,itisadversethatonepoundoverthebudgetprice.Thecompanyswitchingsuppliersmaycausetheincreaseofnegotiationcost.Theremaybealong-termrelationshipbetweenTricolplcanditsoldsuppliers,sothesuppliersmaytakelotsofdiscountstothefirm.Afterchangingsuppliers,thediscountmaydisappear.Furthermore,highergradematerialsincreasedunitprice.Overall,thetotalmaterialvarianceisfavorable.£8,000-£5,600=£2,400.?DirectlabourvarianceThedirectlabourtotalvarianceiscomposedofdirectlabourefficiencyvarianceanddirectlabourratevariance.Thebudgetdirectlabourhoursare3,200hrsandtheactuallabourhoursare3,520hrs.Therearemore320hrsneededthanthebudget,andeachunitis0.2hrs,whichitisobviouslyadverse.Thecompanyupgradingtheproductionmachinerymayneedtimeforemployeestoadoptit.Also,employeesneedtrainingtime.Therebuildprocessofmachineryconsumedtimetoo.Inaword,thechargeablehourshaveincreased.Thebudgetdirectlaourhoursrateis£9perhour,theactualhoursrateis£10perhour.Itisadversethatonepoundhigherthanbudgeted.Itispossiblecausedbybothinternalandexternalfactors.Higher-than-expectedwagesettlementmaybeinternalreasonforthevariance,andnewmachinerymaybeneededtorecruitnewemployeestooperatethemachinery,whichalsocanincreasetheexpense.Forexternalfactors,thechangingoflabourmarketmayincreaselabourcost;thegovernmentlegislationalsocanincreasethelabourcost,forexampleminimumpay.Bothdirectlabourefficiencyanddirectlabourratevariancesareadverse,sothedirectlabourtotalvarianceisadverse.?OverheadvarianceAscalculatedabove,totaloverheadvarianceiscausedbyadministrationandinsurance.Eachfactorhas£200variance,sothetotaloverheadvarianceis£400anditisadverse.Duringtheprocessofchangingsupplier,thecompanyneededmoreexpenseonpublicrelationshipornegotiation,inaddition,inordertomaintainthenewmachinery,administrationcostwillbeincreasedtoo.Forinsuranceaside,theimprovementofmachinerywillneedmoreinsurancefeestocover,whichalsocontributestotheincreaseofinsurancefeeofnewemployees.PartB?SelectionandapplicationoftwoinvestmentappraisaltechniquesAsthecompanyiskeentorecoupthecostoftheinvestmentwithinfiveyears,IwillchoosePaybackperiodandNetPresentValuetohelpmecompletetheappraisal.Inordertofulfilltheappraisaleasily,therearesomeassumptionslistedbelowshouldbeconsideredbeforetheappraisal.⑴Allrevenueandinflowareassumedcashflow⑵Allinvestmentcostincurredinyear0⑶Nouncertaintyisconsidered⑷Donotconsiderinflationandtaxation⑸Marketrateofreturnisexpectedrateofreturn⑹RateofreturnisvaryingalongwithtimeNote:require40,000/320,000inyear5=1/8*year=1.5mothsPayback=4years1.5moths?RecommendationaboutinvestmentAccordingtoPaybackPeriodanalysis,theinvestmentcostcanberecoupedinyear4and1.5moths.Inotherwords,theperiodisundercompany’sexpectation.Theprojectcanbeexecuted.However,accordingtoNetPresentValueanalysis,intermsofpresentvalue,withinfiveyears,whattheNPVwillbringnetresultisnetcashlossbutnotnetcashsurplus.Ingeneral,thecompanyshouldconsidertimevalueandotherfactors,sotheprojectshouldnotbeexecuted.?FactorsimpactontheinvestmentshouldbeconsideredVariousfactorswillimpactonresultofinvestment.Iwilloutlinefactorsshouldbeconsideredwhenthemanagementreviewingmyrecommendationinfinancialandnon-financialfactors.?FinancialfactorAsdistributionarmisfinanciallong-termbeneficialproject,itcanbeusedinlong-termperiodandbringbenefitscontinuous.Theinvestmentcostis£1,000,000,whichcanbeconsideredalargeinvestment.Soitmorelikelyneedslongperiodpaybackperiod.Themanagementshouldfocusonlongercashflowsforlongerperiodoffuture.Ontheotherhand,NetPresentValueinyearfiveis(28,000)onlytake2.8%percentsoftheinvestmentcost,itismorelikelysurplusinyearsix.Anotherfinancialfactorissourceofmillionpounds.Ifitisinternalsource,themanagementmainlyconcentrateonopportunitiesc
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