成本与管理会计（第15版） 课件 GE-hca15-ch13

CHAPTER13PricingDecisionsandCostManagementChapter13learningobjectivesDiscussthethreemajorfactorsthataffectpricingdecisionsUnderstandhowcompaniesmakelong-runpricingdecisionsPriceproductsusingthetarget-costingapproachApplytheconceptsofcostincurrenceandlocked-incostsPriceproductsusingthecost-plusapproach13-2Chapter13learningobjectives,concludedUselife-cyclebudgetingandcostingwhenmakingpricingdecisionsDescribetwopricingpracticesinwhichnoncostfactorsareimportantExplaintheeffectsofantitrustlawsonpricing13-3MajorfactorsthataffectPricingdecisionsHowcompaniespriceaproductorserviceultimatelydependsonthedemandandsupplyforit.Threeinfluencesondemandandsupplyare:CustomersCompetitorsCosts13-4InfluencesonDemandandSupplyCustomers—influencepricethroughtheireffectonthedemandforaproductorservice,basedonfactorssuchasproductfeaturesandquality.Competitors—influencepricethroughtheirtechnologies,plantcapacitiesandoperatingstrategieswhichaffecttheircosts.Costs—influencepricesbecausetheyaffectsupply(thelowerthecost,thegreaterthequantityafirmiswillingtosupply).13-5CostingandPricingforthelong-runShort-runpricingdecisionshaveatimehorizonoflessthanoneyearandincludedecisionssuchas:Pricingaone-time-onlyspecialorderwithnolong-runimplicationsAdjustingproductmixandoutputvolumeinacompetitivemarket.Long-runpricingisastrategicdecisiondesignedtobuildlong-runrelationshipswithcustomersbasedonstableandpredictableprices.Managerspreferastableprice.13-6CostallocationRecallthatindirectcostsofaparticularcostobjectarecoststhatarerelatedtothatcostobjectbutcannotbetracedtoitinaneconomicallyfeasible(cost-effective)way.Thesecostsoftencomprisealargepercentageoftheoverallcostsassignedtocostobjects.Costallocationsinfluencemanagers’costmanagementdecisionsaswellastheproductsthatmanagerspromote.13-7Purposesofcostallocation13-8AlternativeLong-RunPricingApproachesHowshouldmanagersuseproductcostinformationtopricetheirproducts?Therearetwodifferentapproachesforpricingdecisions:TheMARKET-BASEDAPPROACH asks:Givenwhatourcustomerswantandhowcompetitorswillreacttowhatwedo,whatpriceshouldwecharge?TheCOST-BASEDAPPROACHasks:Givenwhatitcostsustomakethisproduct,whatpriceshouldwechargethatwillrecoupourcostsandachieveatargetreturnoninvestment?13-9MarketsandPricingCompaniesoperateindifferentmarketswhichaffecttheapproachthey’lluseforpricing:CompaniesoperatinginCOMPETITIVEMARKETSusethemarket-basedapproach.Companiesinthesemarketsmustacceptthepricessetbythemarket(goodsorservicesprovidedbycompetitorsareverysimilar)13-10MarketsandPricing,cont’dCompaniesoperateindifferentmarketswhichaffecttheapproachthey’lluseforpricing:CompaniesoperatinginLESS-COMPETITIVEMARKETSofferproductsorservicesthatdifferfromeachotherandcanuseeitherthemarket-basedorcost-basedapproachasthestartingpointforpricingdecisions.Remember,bothapproachesconsidercustomers,competitorsandcosts.Onlythestartingpointsdiffer.Managersshouldalwayskeepinmindmarketforcesregardlessofwhichpricingapproachtheyuse.13-11MarketsandPricing,concludedCompaniesoperateindifferentmarketswhichaffecttheapproachthey’lluseforpricing:CompaniesoperatinginmarketsthatareNOTCOMPETITIVEfavorcost-basedapproachesbecausethesecompaniesdonotneedtorespondorreacttocompetitors’prices.13-12Understandingthe

MarketEnvironmentBeforesettingpricesunderanyapproach,managersneedtounderstandcustomersandcompetitorsforthreereasons:Lower-costcompetitorscontinuallyrestrainprices.Productshaveshorterlives,whichleavescompanieslesstimeandopportunitytorecoverfrompricingmistakes,lossofmarketshareandlossofprofitability.Customersaremoreknowledgeablebecausetheyhaveeasyaccesstopriceandotherinformationonlineanddemandhigh-qualityproductsatlowprices.13-13Market-BasedApproach:

targetcostingfortargetpricingStartswithatargetpricewhichistheestimatedpriceforaproductorservicethatpotentialcustomersarewillingtopayThetargetpriceisestimatedbasedonanunderstandingofcustomers’perceivedvalueforaproductorservice,andHowcompetitorswillpricecompetingproductsorservices.13-14Implementing

TargetPricingandTargetCosting:fivestepsDevelopaproductthatsatisfiestheneedsofpotentialcustomers.Chooseatargetprice.DeriveatargetcostperunitbysubtractingtargetoperatingincomeperunitfromthetargetpricePerformcostanalysis.Performvalueengineeringtoachievetargetcost.13-15ValueEngineeringValueengineeringisasystematicevaluationofallaspectsofthevaluechain,withtheobjectiveofreducingcostsandachievingaqualitylevelthatsatisfiescustomers.Valueengineeringentailsimprovementsinproductdesigns,changesinmaterialsspecificationsandmodificationsinprocessmethods.Toimplementvalueengineering,managersmustdistinguishvalue-addedactivitiesandcostsfromnon-value-addedactivitiesandcosts.13-16ValueEngineeringTerminologyValue-addedcosts—acostthat,ifeliminated,wouldreducetheactualorperceivedvalueorutility(usefulness)customersexperiencefromusingtheproductorservice.Non-value-addedcosts—acostthat,ifeliminated,wouldnotreducetheactualorperceivedvalueorutility(usefulness)customersgainfromusingtheproductorservice.Itisacostthecustomerisunwillingtopayfor.

(Examplesincludethecostofdefectiveproductsandmachinebreakdowns.)13-17ValueEngineeringTerminology,concludedCostincurrence—describeswhenaresourceisconsumed(orbenefitforegone)tomeetaspecificobjective.Locked-incosts(designed-incosts)—arecoststhathavenotyetbeenincurredbutwillbeincurredinthefuture

basedondecisionsthathavealreadybeenmade.Thebestopportunitytomanagecostsisbeforetheyarelockedin.13-18CostIncurrence

andLocked-InCostsGraph13-19PossibleundesirableeffectsofValueEngineeringandTargetCostingUnlessmanagedproperly,valueengineeringandtargetcostingcanhaveundesirableeffects:Employeesmayfeelfrustratediftheyfailtoattaintargets.Thecross-functionalteammayaddtoomanyfeaturesjusttoaccommodatethedifferentwishesofteammembers.Aproductmaybeindevelopmentforalongtimeastheteamrepeatedlyevaluatesalternativedesigns.Organizationalconflictsmaydevelopastheburdenofcuttingcostsfallsunequallyondifferentbusinessfunctionsinthecompany’svaluechain.13-20AvoidingpossibleundesirableeffectsToavoidthosepossibleundesirableeffects,target-costingeffortsshouldalways:Encourageemployeeparticipationandcelebratesmallimprovementstowardachievingthetargetcost.Focusonthecustomer.Payattentiontoschedules.Setcost-cuttingtargetsforallvalue-chainfunctionstoencourageacultureofteamworkandcooperation.13-21Targetpricingapproachandfive-stepdecision-makingprocessThetargetpricingapproachisanotherillustrationofthefive-stepdecision-makingprocessintroducedinChapter1:Identifytheproblemanduncertainties.Obtaininformation.Makepredictionsaboutthefuture.MakedecisionsbychoosingamongalternativesImplementthedecision,evaluateperformanceandlearn.13-22Cost-plusPricingInsteadofusingthemarket-basedapproachforlong-runpricingdecisions,managerssometimesuseacost-basedapproachThegeneralformulaforsettingacost-basedsellingpriceaddsamarkupcomponenttothecostbase.Usually,itisonlyastartingpointintheprice-settingprocess.Markupissomewhatflexible,basedpartiallyoncustomersandcompetitors.Becauseamarkupisadded,cost-basedpricingisoftencalledcost-pluspricing,wheretheplusreferstothemarkupcomponent.13-23FormsofCost-PlusPricingCost-pluspricingcanbedeterminedseveralways:Chooseamarkuptoearnatargetrateofreturnoninvestment,whichisthetargetannualoperatingincomedividedbyinvestedcapitalComputingthespecificamountofcapitalinvestedinaproductischallengingbecauseitrequiresdifficultandarbitraryallocationsofinvestmentsinequipmentandbuildingstoindividualproducts.13-24FormsofCost-PlusPricing,concludedBecausecomputingthespecificamountofcapitalinvestedinaproductischallenging,sometimesmanagersusealternatecostbasestosetprospectivesellingprices:VariablemanufacturingcostVariablecostManufacturingcostFullcost13-25CommonBusinessPracticeMostfirmsusefullcostfortheircost-basedpricingdecisions,because:Itallowsforfullrecoveryofallcostsoftheproduct.Itallowsforpricestability.Itisasimpleapproach.13-26Cost-pluspricingandtargetpricingThesellingpricescomputedunderCost-pluspricingareprospectiveprices.TheTarget-pricingapproachreducestheneedtogobackandforthamongprospectivecost-plusprices,customerreactionsanddesignmodifications.Target-pricingfirstdeterminesproductcharacteristicsandtargetpriceonthebasisofcustomerpreferencesandexpectedcompetitorresponsesandthencomputesatargetcost.13-27Life-CycleProduct

BudgetingandCostingManagerssometimesneedtoconsidertargetpricesandtargetcostsoveramultiple-yearproductlifecycle.Productlife-cyclespansthetimefrominitialR&Donaproducttowhencustomerserviceandsupportarenolongerofferedonthatproduct(orphaned).InLife-cyclebudgeting,managersestimatetherevenuesandbusinessfunctioncostsacrosstheentirevalue-chainfromitsinitialR&Dtoitsfinalcustomerserviceandsupport.Life-cyclecostingtracksandaccumulatesbusinessfunctioncostsacrosstheentirevaluechainfromaproduct’sinitialR&Dtoitsfinalcustomerserviceandsupport.Life-cyclebudgetingandlife-cyclecostingspanseveralyears.13-28Life-CycleBudgetingandpricingdecisionsBudgetedlife-cyclecostsprovideusefulinformationforstrategicallyevaluatingpricingdecisions.Thesetwofeaturesofcostsmakelife-cyclebudgetingparticularlyimportant.ThedevelopmentperiodforR&Danddesignislongandcostly.ManycostsarelockedinattheR&Danddesignstages,evenifR&Danddesigncostsarethemselvessmall.13-29NoncostfactorsinPricingDecisionsPricediscrimination—thepracticeofchargingdifferentcustomersdifferentpricesforthesameproductorservice.LegalimplicationsPeak-loadpricing—thepracticeofchargingahigherpriceforthesameproductorservicewhendemandapproachesthephysicallimitofthecapacitytoproducethatproductorserviceInternationalpricing-priceschargedindifferentcountriesvarymuchmorethanthecostsofdeliveringtheproducttoeachcountry.13-30AntitrustlawsandpricingdecisionsPricediscriminationisillegaliftheintentistolessenorpreventcompetition.Predatorypricingoccurswhenacompanydeliberatelypricesbelowitscostsinaneffortto