CÂU HỎI TỰ LUẬN - TỔNG HỢP NHỮNG VẤN ĐỀ LIÊN QUAN ĐẾN RA QUYẾT ĐỊNH

Bài viết tổng hợp một số câu hỏi tự luận thường gặp trong đề thi CMA Part 2 thuộc nội dung Môn 2C - Tổng hợp những vấn đề liên quan đến việc ra quyết định.

Tình huống: 

Buckeye Grain, a corn and wheat processing company, has decided to introduce a new product that can be manufactured by either a capital-intensive method or a labor-intensive method. The method chosen will have no effect on the quality of the finished product. Estimated costs for the two methods are as shown here.

	Capital-intensive	Labor-intensive
Direct raw materials per unit	$10.00	$11.20
Direct labor ($24/hour) per unit	12.00	14.40
Variable overhead ($12/hour) per unit	6.00	9.60
Total fixed costs	$4,880,000	$2,640,000

Buckeye Grain sells the new product at $60 per unit during its initial stage of product lifecycle. The incremental selling expenses are estimated to be $1,000,000 annually plus $4 for each unit sold, regardless of the manufacturing method. Fixed costs are all directly traceable incremental costs.

When deciding which manufacturing method to use, the company's management team take into account the operating leverage.

Câu hỏi:

A. Calculate the estimated breakeven point in annual unit sales of the new product if the company uses the capital-intensive manufacturing method and labor-intensive manufacturing method, respectively. Show your calculations.

B. Calculate the annual unit sales volume at which the company would be indifferent between the two manufacturing methods. Show your calculations.

C. Explain how the level of sales can affect the company's choice of manufacturing method.

D. Identify the four stages of the product lifecycle. Identify the pricing strategy that the company might use when the new product is in its second stage of the product lifecycle. Explain your answer.

E. Explain operating leverage and its relationship with business risk.

Diễn giải:

Buckeye Grain đang xem xét hai phương pháp sản xuất cho một sản phẩm mới: phương pháp thâm dụng vốn và phương pháp thâm dụng lao động. Cả hai phương pháp sẽ tạo ra sản phẩm có chất lượng như nhau, nhưng chúng khác nhau về chi phí (như trong bảng). Sản phẩm được bán với giá 60 USD/đơn vị. Công ty phải chịu 1.000.000 USD chi phí bán hàng tăng thêm hàng năm cộng thêm 4 USD cho mỗi đơn vị bán ra. Chi phí cố định tăng dần và có thể theo dõi trực tiếp. Ban quản lý đang đánh giá các phương pháp dựa trên đòn bẩy hoạt động.

Yêu cầu:

A. Tính điểm hòa vốn ước tính trên doanh thu đơn vị hàng năm của sản phẩm mới nếu công ty lần lượt sử dụng phương pháp sản xuất thâm dụng vốn và phương pháp sản xuất thâm dụng lao động. Trình bày cách tính toán.

B. Tính khối lượng bán hàng đơn vị hàng năm mà tại đó không có khác biệt giữa hai phương pháp sản xuất. Trình bày cách tính toán.

C. Giải thích mức độ bán hàng có thể ảnh hưởng như thế nào đến việc lựa chọn phương pháp sản xuất của công ty.

D. Xác định bốn giai đoạn của vòng đời sản phẩm. Xác định chiến lược định giá mà công ty có thể sử dụng khi sản phẩm mới đang ở giai đoạn thứ hai trong vòng đời sản phẩm. Giải thích câu trả lời.

E. Giải thích về đòn bẩy hoạt động và mối quan hệ của nó với rủi ro kinh doanh.

Đáp án:

A. Calculate the estimated breakeven point in annual unit sales of the new product if the company uses the capital-intensive manufacturing method and labor-intensive manufacturing method, respectively. Show your calculations.

 

Capital-Intensive Method

1. Contribution Margin per Unit

• Selling price per unit: $60.00
• Variable costs:
• Direct raw materials: $10.00
• Direct labor: $12.00
• Variable overhead: $6.00
• Variable selling expenses: $4.00

Total variable cost per unit = $10.00 + $12.00 + $6.00 + $4.00 = $32.00

→ Contribution margin per unit = Selling price per unit - Variable cost per unit

                                                     = $60.00 - $32.00 = $28.00

2. Fixed Costs

• Manufacturing fixed costs: $4,880,000
• Incremental selling expenses: $1,000,000

→ Total fixed costs = $4,880,000 + $1,000,000 = $5,880,000

3. Breakeven Point in Units

Breakeven point = Total fixed costs ÷ Contribution margin per unit

                            = $5,880,000 ÷ $28.00 = 210,000 units

 

Labor-Intensive Method

1. Contribution Margin per Unit

• Selling price per unit: $60.00
• Variable costs:
• Direct raw materials: $11.20
• Direct labor: $14.40
• Variable overhead: $9.60
• Variable selling expenses: $4.00

Total variable cost per unit = $11.20 + $14.40 + $9.60 + $4.00 = $39.20

→ Contribution margin per unit = Selling price per unit - Variable cost per unit

                                                     = $60.00 - $39.20 = $20.80

2. Fixed Costs

• Manufacturing fixed costs: $2,640,000
• Incremental selling expenses: $1,000,000

→ Total fixed costs = $2,640,000 + $1,000,000 = $3,640,000

3. Breakeven Point in Units

Breakeven point = Total fixed costs ÷ Contribution margin per unit

                                     = $3,640,000 ÷ $20.80 = 175,000 units

 

B. Calculate the annual unit sales volume at which the company would be indifferent between the two manufacturing methods. Show your calculations.

Indifference point occurs where total costs are equal.

1. Define Variables

Assume A is the number of units sold at the indifference point.

2. Calculate Total Costs for Each Method

• For Capital-Intensive Method
  • Total cost = Fixed costs + (Variable cost per unit × Quantity)
  • Fixed costs = $4,880,000 (manufacturing) + $1,000,000 (selling) = $5,880,000
  • Variable cost per unit = $10.00 (raw materials) + $12.00 (direct labor) + $6.00 (variable overhead) + $4.00 (variable selling) = $32.00

→ Total cost = $5,880,000 + ($32.00 × A)

• For Labor-Intensive Method
  • Total cost = Fixed costs + (Variable cost per unit × Quantity)
  • Fixed costs = $2,640,000 (manufacturing) + $1,000,000 (selling) = $3,640,000
  • Variable cost per unit = $11.20 (raw materials) + $14.40 (direct labor) + $9.60 (variable overhead) + $4.00 (variable selling) = $39.20

→ Total cost = $3,640,000 + ($39.20 × A)

3. Calculate A

Total Cost (Capital-Intensive)	= Total Cost (Labor-Intensive)
5,880,000 + (32.00 × A)	= 3,640,000 + (39.20 x A)
5,880,000 − 3,640,000	= (39.20 x A) – (32.00 × A)
2,240,000	= 7.20 x A
A	= 2,240,000 ÷ 7.20 = 311,111 units

​

C. Explain how the level of sales can affect the company's choice of manufacturing method.

At the indifference point (311,111 units), the total costs of both methods are the same. This implies that at this level of sales, neither method is financially better than the other.

• Capital-Intensive Method
  • High Fixed Costs: $4,880,000
  • Variable Cost per Unit: $32.00
  • Breakeven Point: 210,000 units

→ Tolerance for risk is high, as Douglas is willing to accept higher financial risk (due to high fixed costs and higher breakeven point) for the potential of greater returns.

• Labor-Intensive Method
  • Lower Fixed Costs: $2,640,000
  • Variable Cost per Unit: $39.20
  • Breakeven Point: 175,000 units

→ Tolerance for risk is lower, as Pam prefers a method with lower fixed costs and thus less risk related to sales volume, accepting potentially lower returns per unit in exchange for reduced risk.

If sales are expected to be greater than 311,111 units, the capital-intensive method should be chosen, as each unit has a greater contribution margin and fixed costs have been covered. If sales are expected to be less than 311,111 units, Buckeye Grain should select the labor-intensive method as there is less business risk.

 

D. Identify the four stages of the product lifecycle. Identify the pricing strategy that the company might use when the new product is in its second stage of the product lifecycle. Explain your answer.

The product lifecycle is the time span between the initial concept of a product or service and the time when the entity no longer produces the product. The four stages are:

• Introduction Stage: Focus on market entry and awareness.
• Growth Stage: Focus on expanding market share and increasing sales.
• Maturity Stage: Focus on maintaining market position and profitability.
• Decline Stage: Focus on managing decline and making strategic decisions about the product's future.

In the second stage of the product lifecycle, known as the Growth Stage, the company might adopt Competitive pricing strategy. Competitive Pricing is used to respond to competitive pressures and position the product favorably in comparison to others in the market. It is particularly useful in a crowded market where differentiation is key. When selling a product in its growth stage, competitors might release the same product at a lower price, or they might work on making the product better. The company might need to work on getting more customers. This could require more marketing and possibly lowering the price.

 

E. Explain operating leverage and its relationship with business risk.

Operating leverage is a financial concept that measures the proportion of fixed costs in a company’s cost structure relative to its variable costs. It indicates how changes in sales volume impact a company's operating income (or EBIT - Earnings Before Interest and Taxes).

Operating leverage is the extent to which a firm's operations employ fixed operating expenses. The greater the proportion of fixed expenses used to produce a product, the greater the degree of operating leverage.

Buckeye Grain's capital-intensive method utilizes a greater degree of operating leverage. The greater the degree of operating leverage, the greater the change in operating income relative to a small fluctuation in sales volume. The greater the operating leverage and the resultant variability in operating income, the greater the degree of business risk.