加里森第十四版管理会计课后题答案CH08

©TheMcGraw-HillCompanies,Inc.,2012.Allrightsreserved.SolutionsManual,Chapter8391Chapter8ProfitPlanningSolutionstoQuestions8-1Abudgetisadetailedquantitativeplanfortheacquisitionanduseoffinancialandotherresourcesoveragiventimeperiod.Budgetarycontrolinvolvesusingbudgetstoincreasethelikelihoodthatallpartsofanorganizationareworkingtogethertoachievethegoalssetdownintheplanningstage.8-21.Budgetscommunicatemanagement’splansthroughouttheorganization.2.Budgetsforcemanagerstothinkaboutandplanforthefuture.Intheabsenceofthenecessitytoprepareabudget,manymanagerswouldspendalloftheirtimedealingwithday-to-dayemergencies.3.Thebudgetingprocessprovidesameansofallocatingresourcestothosepartsoftheorganizationwheretheycanbeusedmosteffectively.4.Thebudgetingprocesscanuncoverpotentialbottlenecksbeforetheyoccur.5.Budgetscoordinatetheactivitiesoftheentireorganizationbyintegratingtheplansofitsvariousparts.Budgetinghelpstoensurethateveryoneintheorganizationispullinginthesamedirection.6.Budgetsdefinegoalsandobjectivesthatcanserveasbenchmarksforevaluatingsubsequentperformance.8-3Responsibilityaccountingisasysteminwhichamanagerisheldresponsibleforthoseitemsofrevenuesandcosts—andonlythoseitems—thatthemanagercancontroltoasignificantextent.Eachlineiteminthebudgetismadetheresponsibilityofamanagerwhoisthenheldresponsiblefordifferencesbetweenbudgetedandactualresults.8-4Amasterbudgetrepresentsasummaryofallofmanagement’splansandgoalsforthefuture,andoutlinesthewayinwhichtheseplansaretobeaccomplished.Themasterbudgetiscomposedofanumberofsmaller,specificbudgetsencompassingsales,production,rawmaterials,directlabor,manufacturingoverhead,sellingandadministrativeexpenses,andinventories.Themasterbudgetusuallyalsocontainsabudgetedincomestatement,budgetedbalancesheet,andcashbudget.8-5Thelevelofsalesimpactsvirtuallyeveryotheraspectofthefirm’sactivities.Itdeterminestheproductionbudget,cashcollections,cashdisbursements,andsellingandadministrativebudgetthatinturndeterminethecashbudgetandbudgetedincomestatementandbalancesheet.8-6No.Planningandcontrolaredifferent,althoughrelated,concepts.Planninginvolvesdevelopinggoalsanddevelopingbudgetstoachievethosegoals.Control,bycontrast,involvesthemeansbywhichmanagementattemptstoensurethatthegoalssetdownattheplanningstageareattained.8-7Theflowofbudgetinginformationmovesintwodirections—upwardanddownward.Theinitialflowshouldbefromthebottomoftheorganizationupward.Eachpersonhavingresponsibilityoverrevenuesorcostsshouldpreparethebudgetdataagainstwhichhisorhersubsequentperformancewillbemeasured.Asthebudgetdataarecommunicatedupward,higher-levelmanagersshouldreviewthebudgetsforconsistencywiththeoverallgoalsoftheorganizationandtheplansofotherunitsintheorganization.Anyissuesshouldberesolvedindiscussionsbetweentheindividualswhopreparedthebudgetsandtheirmanagers.Alllevelsofanorganizationshouldparticipateinthebudgetingprocess—notjusttopmanagementortheaccountingdepartment.Generally,thelowerlevelswillbemorefamiliar©TheMcGraw-HillCompanies,Inc.,2012.Allrightsreserved.392ManagerialAccounting,14thEditionwithdetailed,day-to-dayoperatingdata,andforthisreasonwillhaveprimaryresponsibilityfordevelopingthespecificsinthebudget.Toplevelsofmanagementshouldhaveabetterperspectiveconcerningthecompany’sstrategy.8-8Aself-imposedbudgetisoneinwhichpersonswithresponsibilityovercostcontrolpreparetheirownbudgets.Thisisincontrasttoabudgetthatisimposedfromabove.Themajoradvantagesofaself-imposedbudgetare:(1)Individualsatalllevelsoftheorganizationarerecognizedasmembersoftheteamwhoseviewsandjudgmentsarevalued.(2)Budgetestimatespreparedbyfront-linemanagersareoftenmoreaccurateandreliablethanestimatespreparedbytopmanagerswhohavelessintimateknowledgeofmarketsandday-to-dayoperations.(3)Motivationisgenerallyhigherwhenindividualsparticipateinsettingtheirowngoalsthanwhenthegoalsareimposedfromabove.Self-imposedbudgetscreatecommitment.(4)Amanagerwhoisnotabletomeetabudgetthathasbeenimposedfromabovecanalwayssaythatthebudgetwasunrealisticandimpossibletomeet.Withaself-imposedbudget,thisexcuseisnotavailable.Self-imposedbudgetsdocarrywiththemtheriskofbudgetaryslack.Thebudgetspreparedbylower-levelmanagersshouldbecarefullyreviewedtopreventtoomuchslack.8-9Thedirectlaborbudgetandotherbudgetscanbeusedtoforecastworkforcestaffingneeds.Carefulplanningcanhelpacompanyavoiderratichiringandlayingoffofemployees.8-10TheprincipalpurposeofthecashbudgetisNOTtoseehowmuchcashthecompanywillhaveinthebankattheendoftheyear.Althoughthisisoneofthepurposesofthecashbudget,theprincipalpurposeistoprovideinformationonprobablecashneedsduringthebudgetperiod,sothatbankloansandothersourcesoffinancingcanbeanticipatedandarrangedwellinadvance.©TheMcGraw-HillCompanies,Inc.,2012.Allrightsreserved.SolutionsManual,Chapter8393Exercise8-1(20minutes)1.JulyAugustSeptemberTotalMaysales:$430,000×10%.......$43,000$43,000Junesales:$540,000×70%,10%.........................378,000$54,000432,000Julysales:$600,000×20%,70%,10%................120,000420,000$60,000600,000Augustsales:$900,000×20%,70%.........................180,000630,0