115 年 國立政治大學會計研究所會計組《成本與管理會計》

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第 1 題30 分

An important reality to be aware of when designing performance measurement and award systems is that:
(A) managers can influence performance that is impacted by economic factors
(B) there are tradeoffs between creating incentives and imposing risk on a manager
(C) managers can exert significant influence over matters related to regulatory restrictions and limitations
(D) there is really no distinction between a subunit's performance and the performance of that subunit's manager

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這一題的完整詳解

這題主要在探討績效衡量與獎勵制度設計時，一個重要的現實考量。

選項 (A) 提到經理人可以影響受經濟因素影響的績效。雖然經濟因素會影響績效，但經理人對外部經濟因素的影響力通常有限，這並非設計制度時最核心的考量。
選項 (C) 提到經理人能對法規限制施加顯著影響。同樣地，經理人對法規的影響力也非設計制度時最主要的考慮點。
選項 (D) 提到部門績效與經理人績效無區別。這顯然是錯誤的，部門績效和經理人績效應有所區分，否則獎勵制度將無法有效激勵。

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第 2 題30 分

Which of the following entries is correct when the costs of the rework are normal and common to all the jobs?
(A) Work-in-Process Control
Manufacturing Overhead Allocated
Materials Control
Wages Payable Control
(B) Manufacturing Overhead Control
Materials Control
Wages Payable Control
Manufacturing Overhead Allocated
(C) Wages Payable Control
Manufacturing Overhead Allocated
(D) Wages Payable Control
Manufacturing Overhead Control
Materials Control
Manufacturing Overhead Allocated

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這一題的完整詳解

這題考驗的是製造成本會計中，關於「正常且普遍適用於所有在製品」的返工（rework）成本的會計處理。

返工成本，當其被認定為「正常」且「普遍適用於所有在製品」時，表示這些成本是生產過程中預期會發生，且無法歸屬於特定在製品的。這種情況下的返工成本，應被視為製造費用（Manufacturing Overhead）的一部分。

製造費用在實際發生時，通常會借記「製造費用控制」（Manufacturing Overhead Control）科目。當製造費用被分攤到在製品時，則會貸記「製造費用分攤」（Manufacturing Overhead Allocated）科目，並借記「在製品控制」（Work-in-Process Control）科目。

因此，當返工成本是正常且普遍的，其會計分錄應反映為製造費用的發生與分攤。

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第 3 題30 分

Which of the following statements is true?
(A) Target pricing is one form of cost-based pricing
(B) Customer life-cycle costs focus on the total costs incurred by a customer to maintain and dispose of a product or service
(C) Reverse engineering refers to the process of analyzing the competitor's cost and then designing the product
(D) In short run, companies supply products as long as the revenues from selling the additional units exceed the cost of producing them

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這一題的完整詳解

這題考驗對成本與管理會計中幾種常見策略與概念的理解。

選項 (A) 提到目標訂價（Target Pricing）是一種成本基礎訂價。這是錯誤的。目標訂價是一種市場導向的訂價策略，其流程是先確定市場可接受的售價（Target Selling Price），然後從中扣除預期的目標利潤（Target Profit Margin），得出目標成本（Target Cost）。公司必須設法讓實際成本低於或等於目標成本。而成本基礎訂價（Cost-Based Pricing）則是先計算產品成本，然後加上預期的利潤率來決定售價。

選項 (B) 提到顧客生命週期成本（Customer Life-Cycle Costs）關注的是顧客為維護和處置產品或服務所產生的總成本。這是正確的。顧客生命週期成本是指從顧客購買產品/服務開始，到其使用、維護、最終處置為止，顧客所花費的所有相關成本。

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第 4 題30 分

The sales-mix variance will be unfavorable when which of the following occurs?
(A) the actual unit sales are less than the budgeted unit sales
(B) the contribution margin per composite unit for the actual mix is greater than the budgeted mix
(C) the actual sales mix shifts toward the less profitable units
(D) the actual contribution margin is less than the static-budget contribution margin

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這一題的完整詳解

這題考驗對銷貨組合變異數（Sales-Mix Variance）的理解。銷貨組合變異數衡量的是實際銷售組合與預算銷售組合之間，因每種產品的邊際貢獻單價不同而產生的利潤差異。

銷貨組合變異數的計算公式通常是：
(實際銷售組合比例 - 預算銷售組合比例) * 總預算單位數 * 平均邊際貢獻單價 (或依產品個別計算)

一個不利（unfavorable）的銷貨組合變異數，意味著實際銷售組合相較於預算銷售組合，導致總體利潤下降。

選項 (A) 實際單位銷售量少於預算單位銷售量，這會影響總銷售量變異數（Sales Volume Variance），而不是銷貨組合變異數。

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第 5 題30 分

A transfer-pricing method leads to goal congruence when:
(A) there is a price difference in different markets due to market efficiencies
(B) managers do no act for their own best interest and work for the long-term best interest of the manager's subunit
(C) managers act in their own best interest and the decision is in the long-term best interest of the company
(D) there is a low degree of centralization

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這一題的完整詳解

這題考驗對內部轉撥計價（Transfer Pricing）如何達成目標一致性（Goal Congruence）的理解。

目標一致性是指，當各部門經理人為了自身部門的最佳利益而做決策時，其決策結果也同時符合整個公司的最佳利益。有效的轉撥計價方法應該能夠促成目標一致性。

選項 (A) 提到市場效率導致的價格差異。這可能是設定轉撥價格的考量因素之一，但本身並不能保證目標一致性。
選項 (B) 提到經理人不為自身利益，而是為部門長期利益服務。這與目標一致性的定義不符，目標一致性是鼓勵經理人追求自身利益，但其自身利益恰好與公司利益一致。

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第 6 題30 分

Assume your goal in life is to retire with $2,500,000. How much would you need to save at the end of each
year if interest rates average 8% and you have a 15-year work life? (Round the final answer to the nearest
whole dollar.)

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這一題的完整詳解

這題是一道典型的年金現值（Annuity Present Value）或年金終值（Annuity Future Value）應用題，本題考的是年金終值。目標是計算為了在 15 年後累積到 $2,500,000，每年年底需要儲蓄的金額。

我們已知：
未來值 (FV) = $2,500,000
利率 (i) = 8% 或 0.08
期數 (n) = 15 年
儲蓄方式是「在每年年底」進行，這屬於普通年金（Ordinary Annuity）。

年金終值公式為：
FV=PMT×[(1+i)n−1i]FV = PMT \times \left[ \frac{(1+i)^n - 1}{i} \right]
其中 PMT 是每年應儲蓄的金額。

我們需要解出 PMT：
PMT=FV[(1+i)n−1i]PMT = \frac{FV}{\left[ \frac{(1+i)^n - 1}{i} \right]}

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第 7 題30 分

The following information applies to Krynton Company, which supplies microscopes to laboratories throughout the country. Krynton purchases the microscopes from a manufacturer which has a reputation for very high quality in its manufacturing operation.
Annual demand
Orders per year
Lead time in days
Cost of placing an order $140
What is the reorder point? (Assuming there are 365 days in one year)
59,000 units (weekly demand = 1/52 of annual demand)
60
20 days

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這一題的完整詳解

這題考驗的是存貨管理中的「訂購點」（Reorder Point, ROP）計算。訂購點是指當存貨量下降到某個水準時，就應該重新訂購，以避免缺貨。

訂購點的計算公式為：
Reorder Point=(Lead Time Demand)+(Safety Stock)\text{Reorder Point} = (\text{Lead Time Demand}) + (\text{Safety Stock})

在這個題目中，我們有以下資訊：
年需求量 (Annual Demand) = 59,000 units
年天數 = 365 days
訂購提前期 (Lead Time) = 20 days
訂購成本 (Cost of Placing an Order) =

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第 8 題30 分

AA Company makes internal transfers at 155% of full cost. The Soda Refining Division purchases 40,300 containers of carbonated water per day, on average, from a local supplier, who delivers the water for 58percontainerviaanexternalshipper.Toreducecosts,thecompanylocatedanindependentsupplierinYunlinwhoiswillingtosell40,300containersat58 per container via an external shipper. To reduce costs, the company located an independent supplier in Yunlin who is willing to sell 40,300 containers at 50 each, delivered to AA Company's Shipping Division in Taipei. The company's Shipping Division in Taipei has excess capacity and can ship the 40,300 containers at a variable cost of $5.00 per container. What is the total cost of purchasing the water from the Yunlin supplier and shipping it to the Soda Division?

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這一題的完整詳解

這題考驗的是在企業內部決策中，評估外部購買與內部供應的成本效益。題目要求計算從 Yunlin 供應商購買並運送至 Soda Division 的總成本。

首先，我們需要釐清哪些成本是與此決策相關的。題目中提到 AA Company 的內部轉撥價格政策（155% of full cost），但這與評估從外部供應商購買並重新調度運輸的成本無關，因為此決策是關於「外部購買」而非「內部轉撥」。

我們需要關注的是：

  1. 從 Yunlin 獨立供應商購買的成本。
  2. 將貨物運送至 Shipping Division in Taipei 的成本。
  3. 從 Shipping Division in Taipei 運送至 Soda Division 的成本。

根據題目提供的資訊：

  • 購買量：40,300 containers
  • Yunlin 供應商的價格：$50/container (此價格已包含運送至 AA Company's Shipping Division in Taipei 的成本，即 Delivered to AA Company's Shipping Division in Taipei)
  • Shipping Division in Taipei 的運送變動成本：$5.00/container (將貨物從 Shipping Division in Taipei 運送至 Soda Division 的成本)
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第 9 題30 分

Consider the following historical costs for long-term assets of Adapter Inc., a company with operations in three regions of the U.S.
New England
Southeast
West
Gross Book Value at Historical Cost
1,400,0001,400,000 2,350,000
$2,730,000
Year built
2012
2016
2018
At the end of 2020, what is the gross book value of the assets in Southeast region based on current costs? Please use the following construction cost index by year.
2012
2013
2014
2015
Construction cost index
100
105
110
115
2016
115
2017
132
2018
141
2019
150
2020
165
🖼️【此處有附圖，請對照原卷】

🖼️ 本題含圖表，以下為原卷對應頁面：
原卷第 3 頁

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這一題的完整詳解

這題考驗的是如何利用歷史成本和物價指數（Construction Cost Index）來將資產的帳面價值調整為當期成本（Current Costs），也稱為重置成本（Replacement Cost）或現值。

我們需要計算的是 Southeast 區域在 2020 年底的資產「依當期成本」的總帳面價值。

已知資訊：

  • Southeast 區域的資產於 2016 年建造。
  • Southeast 區域資產的歷史成本帳面價值 = $2,350,000。
  • 2016 年的建築物價指數 = 115。
  • 2020 年的建築物價指數 = 165。

計算步驟：

  1. 確定歷史成本與建造年份： Southeast 區域的資產在 2016 年建造，當時的歷史成本帳面價值是 $2,350,000。
  2. 找到對應的物價指數：
    • 建造當年（2016 年）的物價指數為 115。
    • 目標調整年份（2020 年）的物價指數為 165。
  3. 計算當期成本：
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第 10 題30 分

Use the following two sets of information to find the unknown amounts (assuming that two sets of information are independent).

Work-in-Process Inventory
Ending balance
Cost of goods manufactured
Beginning balance
Current manufacturing costs
$ 22,000
21,000
8,000
?

Finished Goods Inventory
Cost of goods manufactured
$62,000
Ending balance
20,000
Cost of goods sold
61,000
Beginning balance
?

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這一題的完整詳解

這題考驗的是存貨成本流轉的會計恆等式，分別應用於在製品（Work-in-Process Inventory）和製成品（Finished Goods Inventory）兩個環節。

第一部分：在製品（Work-in-Process Inventory）

在製品的成本流轉恆等式為：
Beginning WIP+Direct Materials Used+Direct Labor Used+Manufacturing Overhead Applied=Cost of Goods Manufactured+Ending WIP\text{Beginning WIP} + \text{Direct Materials Used} + \text{Direct Labor Used} + \text{Manufacturing Overhead Applied} = \text{Cost of Goods Manufactured} + \text{Ending WIP}
其中，Direct Materials Used, Direct Labor Used, 和 Manufacturing Overhead Applied 合稱為「當期製造成本」（Current Manufacturing Costs）。

所以，恆等式可以寫成：
Beginning WIP+Current Manufacturing Costs=Cost of Goods Manufactured+Ending WIP\text{Beginning WIP} + \text{Current Manufacturing Costs} = \text{Cost of Goods Manufactured} + \text{Ending WIP}

我們已知：

  • Beginning WIP = $8,000
  • Ending WIP = $22,000
  • Cost of Goods Manufactured =
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第 (a) 題5 分

【題組共用題幹】
TrueValue Company makes all types of office desks. The General Desk Division is currently producing 10,000 desks per year with a capacity of 15,000. The variable costs assigned to each desk are 300andannualfixedcostsofthedivisionare300 and annual fixed costs of the division are 900,000. The General desk sells for 400.TheExecutiveDivisionwantstobuy5,000desksat400. The Executive Division wants to buy 5,000 desks at 250 for its custom office design business. The General Desk manager refused the order because the price is below the variable cost. The executive manager argues that the order should be accepted because it will lower the fixed cost per desk from 90to90 to 60 and will take the division to its capacity, thereby causing operations to be at their most efficient level. From the perspective of the General Desk Division and the company, should the order be accepted if the Executive Division plans on selling the desks to the outside market for 420afterincurringadditionalcostsof420 after incurring additional costs of 100 per desk? Why?

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這一題的完整詳解

此題為一個管理會計的相關決策問題，涉及內部轉撥計價、產能利用與決策分析。問題要求從 General Desk Division 和整個公司（TrueValue Company）的角度，判斷是否應接受 Executive Division 的 5,000 張桌子訂單，並說明原因。

首先，我們需要釐清相關資訊：

  • General Desk Division (GDD)
    • 產能：15,000 張/年
    • 目前產量：10,000 張/年
    • 變動成本 (Variable Cost, VC)：$300/張
    • 年度固定成本 (Fixed Cost, FC)：$900,000/年
    • 目前售價：$400/張
    • GDD 經理拒絕訂單的理由：報價 250<VC250 < VC 300。
  • Executive Division (ED)
    • 欲購買數量：5,000 張
    • 報價：$250/張
    • ED 計劃將這些桌子以 420售予外部市場，但需額外產生420 售予外部市場，但需額外產生 100/張的成本。

計算 GDD 的相關成本與利潤：

  1. GDD 的平均固定成本 (Average Fixed Cost, AFC)：
    目前產量 10,000 張時，AFC = 900,000/10,000張=900,000 / 10,000 張 = 90/張。
    若接受訂單（總產量達 15,000 張），AFC = 900,000/15,000張=900,000 / 15,000 張 = 60/張。
    這與 Executive Manager 的說法一致。

  2. GDD 的邊際貢獻 (Contribution Margin, CM)：
    邊際貢獻 = 售價 - 變動成本
    對於外部銷售：CM = 400−400 - 300 = 100/張對於ExecutiveDivision的訂單：若接受，邊際貢獻=100/張 對於 Executive Division 的訂單：若接受，邊際貢獻 = 250 - 300=−300 = -50/張。

  3. GDD 接受訂單的影響：

    • 從 GDD 角度看：
      如果 GDD 接受 ED 的訂單，每張桌子會額外產生 250的收入，但額外產生250 的收入，但額外產生 300 的變動成本。這意味著每賣一張給 ED，GDD 會損失 50的變動成本。然而，接受訂單可以提高產能利用率，將總產量從10,000張提升到15,000張。這將使平均固定成本從50 的變動成本。 然而，接受訂單可以提高產能利用率，將總產量從 10,000 張提升到 15,000 張。這將使平均固定成本從 90/張降至 $60/張。
      我們需要比較接受訂單對 GDD 總利潤的影響。

      情境 1：不接受訂單 (僅生產 10,000 張)
      總收入 = 10,000 張 ×\times 400/張=400/張 = 4,000,000
      總變動成本 = 10,000 張 ×\times 300/張=300/張 = 3,000,000
      總固定成本 = 900,000總利潤=900,000 總利潤 = 4,000,000 - 3,000,000−3,000,000 - 900,000 = $100,000

      情境 2：接受訂單 (生產 10,000 張外部銷售 + 5,000 張給 ED)

      • 外部銷售部分 (10,000 張)：
        收入 = 10,000 張 ×\times 400/張=400/張 = 4,000,000
        變動成本 = 10,000 張 ×\times 300/張=300/張 = 3,000,000
        邊際貢獻 = $1,000,000
      • 出售給 ED 部分 (5,000 張)：
        收入 = 5,000 張 ×\times 250/張=250/張 = 1,250,000
        變動成本 = 5,000 張 ×\times 300/張=300/張 = 1,500,000
        邊際貢獻 = -250,000(即損失250,000 (即損失 250,000)
      • 總邊際貢獻 = 1,000,000−1,000,000 - 250,000 = $750,000
      • 總固定成本 = $900,000 (固定成本不因產量變化而改變，在相關範圍內)
      • 總利潤 = 750,000−750,000 - 900,000 = -$150,000

      從 GDD 角度的結論： 接受訂單會使 GDD 蒙受 150,000的淨虧損，而原先是150,000 的淨虧損，而原先是 100,000 的淨利潤。因此，從 GDD 獨立的角度來看，不應接受訂單。GDD 經理的判斷是基於「單獨看這筆訂單的邊際貢獻」以及「個別部門的損益」。

    • 從公司（TrueValue Company）角度看：
      我們需要評估整個公司層面的影響。這意味著我們需要考慮 ED 將這些桌子賣給外部市場的潛在利潤。

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第 (1) 題10 分

【題組共用題幹】
NCCU Company is currently purchasing part no.119 from an outside suppler for 70perunit.Becauseofsupplierreliabilityproblems,thecompanyisconsideringproducingthepartinternallyinacurrentlyidlemanufacturingplant.Annualvolumeoverthenextfiveyearsisexpectedtototal400,000unitsatvariablemanufacturingcostsof70 per unit. Because of supplier reliability problems, the company is considering producing the part internally in a currently idle manufacturing plant. Annual volume over the next five years is expected to total 400,000 units at variable manufacturing costs of 68 per unit.
NCCU must acquire 200,000ofnewequipmentifitreopenstheplant.Theequipmenthasafive−yearservicelifeand200,000 of new equipment if it reopens the plant. The equipment has a five-year service life and 20,000 salvage value, and will be depreciated using double-decline method. Normal equipment maintenance is expected to total $12,000 in year 4, and the equipment will be sold at the end of its life. The company is subject to a 30% income tax rate. NCCU is using a 12% after-tax hurdle rate for evaluating its capital budgeting projects.
Required:
(1) In the above make-or-buy decision, determine the difference in net-present-value (NPV) between the alternatives of making and purchasing part no.119.

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這一題的完整詳解

核心觀念

  1. 變動成本與固定成本：製造部份的變動製造成本與外購成本直接比較。
  2. 資本化支出與折舊：設備購置屬資本支出，須以雙倍餘額遞減法折舊，折舊可產生稅盾 (tax shield)。
    3 稅後現金流：
    • 直接成本之節省需考慮稅率（節省的成本等同於增加的稅前盈餘）。
    • 折舊 * 稅率 = 稅盾現金流。
  3. 淨現值（NPV）：以給定的 12% 稅後貼現率 折現各期稅後淨現金流，與初始投資比較。

解題方法

  1. 設定年產量：

Q=400,000  units/yrQ = 400{,}000\;\text{units/yr}

  1. 外購成本每年：

Cbuy=70×Q=28,000,000  USDC_{\text{buy}} = 70 \times Q = 28{,}000{,}000\;\text{USD}

  1. 自製變動成本每年：

Cmake,var=68×Q=27,200,000  USDC_{\text{make,var}} = 68 \times Q = 27{,}200{,}000\;\text{USD}

  1. 年度成本差（稅前）：

ΔCpre‑tax=Cbuy−Cmake,var=800,000\Delta C_{\text{pre‑tax}} = C_{\text{buy}} - C_{\text{make,var}} = 800{,}000

  1. 稅後節省（因成本下降而增加的稅前盈餘須扣稅）：

ΔCafter‑tax=ΔCpre‑tax (1−T)=800,000×0.70=560,000\Delta C_{\text{after‑tax}} = \Delta C_{\text{pre‑tax}}\,(1-T) = 800{,}000 \times 0.70 = 560{,}000

  1. 設備折舊（雙倍餘額遞減法）
年度期初帳面值折舊率 40%折舊額 $()期末帳面值
1200,0000.4080,000120,000
2120,0000.4048,00072,000
372,0000.4028,80043,200
443,2000.4017,28025,920
525,920調整5,920*20,000

(* 第五年折舊調整至使帳面值等於殘值 20,000）

  1. 折舊稅盾（折舊 × 稅率）
年度折舊額稅盾 = 折舊 × 0.30
180,00024,000
248,00014,400
328,8008,640
417,2805,184
55,9201,776
  1. 維護費：第4 年正常維護 12,000，稅後實際支出

12,000×(1−T)=12,000×0.70=8,40012{,}000 \times (1-T)=12{,}000 \times 0.70 = 8{,}400

  1. 每年稅後淨現金流（自製相對於外購）
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第 (2) 題5 分

【題組共用題幹】
NCCU Company is currently purchasing part no.119 from an outside suppler for 70perunit.Becauseofsupplierreliabilityproblems,thecompanyisconsideringproducingthepartinternallyinacurrentlyidlemanufacturingplant.Annualvolumeoverthenextfiveyearsisexpectedtototal400,000unitsatvariablemanufacturingcostsof70 per unit. Because of supplier reliability problems, the company is considering producing the part internally in a currently idle manufacturing plant. Annual volume over the next five years is expected to total 400,000 units at variable manufacturing costs of 68 per unit.
NCCU must acquire 200,000ofnewequipmentifitreopenstheplant.Theequipmenthasafive−yearservicelifeand200,000 of new equipment if it reopens the plant. The equipment has a five-year service life and 20,000 salvage value, and will be depreciated using double-decline method. Normal equipment maintenance is expected to total $12,000 in year 4, and the equipment will be sold at the end of its life. The company is subject to a 30% income tax rate. NCCU is using a 12% after-tax hurdle rate for evaluating its capital budgeting projects.
Required:
(2) What is the maximum discount rate at which this project remains financially viable?

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這一題的完整詳解

核心觀念

  1. 財務可行性之最大折現率（Maximum Discount Rate / IRR）：

    • 資本預算決策中，專案具備「財務可行性（financially viable）」之標準為淨現值大於或等於零（NPV≥0\text{NPV} \ge 0）。
    • 在傳統型現金流量（期初淨流出，後續各期均為淨流入）下，NPV\text{NPV} 為折現率 rr 的嚴格遞減函數。使 NPV=0\text{NPV} = 0 的臨界折現率即為內部報酬率（Internal Rate of Return, IRR）。
    • 只要折現率小於或等於 IRR，專案即屬可行；因此，專案維持財務可行的最大折現率即為該專案之 IRR。

  2. 資本預算差額現金流量分析（Differential Cash Flow Analysis）：

    • 稅後營運成本節省（After-tax Cost Savings）：
      稅後營運現金流入=每年成本節省額×(1−t)\text{稅後營運現金流入} = \text{每年成本節省額} \times (1 - t)
    • 折舊租稅抵減（Depreciation Tax Shield）：
      折舊租稅抵減現金流入=折舊費用×t\text{折舊租稅抵減現金流入} = \text{折舊費用} \times t
    • 雙倍餘額遞減法（Double-Declining Balance Method, DDB）：
      • 折舊率 =1耐用年限×2= \frac{1}{\text{耐用年限}} \times 2
      • 每期折舊額 =期初帳面價值×折舊率= \text{期初帳面價值} \times \text{折舊率}（不預先扣除殘值，但帳面價值不得低於估計殘值，最後一年須調整折舊額以使期末帳面價值等於殘值）。
    • 營運維護費用與期末殘值回收：
      • 維護費用屬當期營業費用，產生稅後現金流出：−維護支出×(1−t)-\text{維護支出} \times (1 - t)。
      • 期末出售設備回收殘值，若「售價 == 期末帳面價值」，處分損益為 00，回收全額殘值。

解題方法與步驟推導

步驟一：計算每年自製相對外購之營運成本節省額

  • 未來 5 年總需求量為 400,000400{,}000 單位，平均每年產量：
    每年產量=400,000 單位5 年=80,000 單位/年\text{每年產量} = \frac{400{,}000 \text{ 單位}}{5 \text{ 年}} = 80{,}000 \text{ 單位/年}
  • 每單位外購成本為 $70，自製變動成本為 $68，每單位差額節省金額：
    每單位成本節省=$70−$68=$2\text{每單位成本節省} = \$70 - \$68 = \$2
  • 每年稅前營運成本節省額：
    每年稅前節省=80,000 單位×$2=$160,000\text{每年稅前節省} = 80{,}000 \text{ 單位} \times \$2 = \$160{,}000
  • 每年稅後營運現金節省額（所得稅率 t=30%t = 30\%）：
    每年稅後營運現金流入=$160,000×(1−30%)=$112,000\text{每年稅後營運現金流入} = \$160{,}000 \times (1 - 30\%) = \$112{,}000

步驟二：計算各年度折舊費用與折舊租稅抵減（DDB 法）

設備成本為 $200,000，耐用年限 5 年，估計殘值為 $20,000。
雙倍折舊率 =25=40%= \frac{2}{5} = 40\%。

  • 第 1 年：
    • 折舊費用 == $200,000×40%=200{,}000 \times 40\% = $80,00080{,}000
    • 期末帳面價值 == $200,000−200{,}000 - $80,000=80{,}000 = $120,000120{,}000
    • 租稅抵減 == $80,000×30%=80{,}000 \times 30\% = $24,00024{,}000
  • 第 2 年：
    • 折舊費用 == $120,000×40%=120{,}000 \times 40\% = $48,00048{,}000
    • 期末帳面價值 == $120,000−120{,}000 - $48,000=48{,}000 = $72,00072{,}000
    • 租稅抵減 == $48,000×30%=48{,}000 \times 30\% = $14,40014{,}400
  • 第 3 年：
    • 折舊費用 == $72,000×40%=72{,}000 \times 40\% = $28,80028{,}800
    • 期末帳面價值 == $72,000−72{,}000 - $28,800=28{,}800 = $43,20043{,}200
    • 租稅抵減 == $28,800×30%=28{,}800 \times 30\% = $8,6408{,}640
  • 第 4 年：
    • 折舊費用 == $43,200×40%=43{,}200 \times 40\% = $17,28017{,}280
    • 期末帳面價值 == $43,200−43{,}200 - $17,280=17{,}280 = $25,920>25{,}920 > $20,00020{,}000（尚未低於殘值）
    • 租稅抵減 == $17,280×30%=17{,}280 \times 30\% = $5,1845{,}184
  • 第 5 年：
    • 為維持期末帳面價值等於殘值 $20,000，本期提列折舊額受殘值限制：
      第 5 年折舊費用=$25,920−$20,000=$5,920\text{第 5 年折舊費用} = \$25{,}920 - \$20{,}000 = \$5{,}920
    • 租稅抵減 == $5,920×30%=5{,}920 \times 30\% = $1,7761{,}776

步驟三：彙整各期淨現金流量（Net Cash Flow, NCF）

  • 第 0 期（期初）：購入新設備現金流出 =−= -$200,000200{,}000。
  • 第 1 期：
    NCF1=$112,000+$24,000=$136,000\text{NCF}_1 = \$112{,}000 + \$24{,}000 = \$136{,}000
  • 第 2 期：
    NCF2=$112,000+$14,400=$126,400\text{NCF}_2 = \$112{,}000 + \$14{,}400 = \$126{,}400
  • 第 3 期：
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第 (a) 題25 分

【題組共用題幹】
SRB Corporation is a mid-sized manufacturer of home espresso machines competing in the increasingly crowded premium small-appliance market. For several years, SRB has positioned its core espresso machine as a reliable, mid-range product sold through specialty retailers at a list price of 80perunit.Duringthemostrecentaccountingperiod,SRBproducedandsold5,000espressomachines.Thecompany′saccountingdepartmentreportedthefollowingcoststructureforthisproductionvolume:Directmaterialstotaled80 per unit. During the most recent accounting period, SRB produced and sold 5,000 espresso machines. The company's accounting department reported the following cost structure for this production volume: Direct materials totaled 18,250, direct labor amounted to 36,250,andvariablemanufacturingoverheadwas36,250, and variable manufacturing overhead was 22,250. In addition, SRB incurred 59,000infixedmanufacturingoverhead.Beyondmanufacturing,variablenonmanufacturingcostswere59,000 in fixed manufacturing overhead. Beyond manufacturing, variable nonmanufacturing costs were 19,750, while fixed nonmanufacturing costs totaled 41,000.Totalcostsfortheperiodwere41,000. Total costs for the period were 196,500.
As competition intensifies and consumer expectations evolve, SRB's senior management team is reassessing its pricing and cost strategies. The marketing research department has proposed developing a higher-quality espresso machine featuring improved durability and enhanced brewing performance. Market analysis suggests that this upgraded model could command a selling price of 120perunit.However,topmanagementhasstatedthatitwillapprovetheprojectonlyiftheproductcanachievea40Atthesametime,aseparatemarketstudyhasraisedconcernsaboutSRB′scurrentproduct.Thestudysuggeststhatcompetitivepressuresmayforcethecompanytoreducethesellingpriceofitsexistingespressomachineto120 per unit. However, top management has stated that it will approve the project only if the product can achieve a 40% profit margin. Management has asked the accounting team to determine whether this target is feasible from a cost perspective. At the same time, a separate market study has raised concerns about SRB's current product. The study suggests that competitive pressures may force the company to reduce the selling price of its existing espresso machine to 60 per unit in order to maintain market share. Management wishes to preserve the same 40% profit margin on the existing product and is considering whether proportional cost reductions across all cost categories could make this price reduction viable.
Independently of these pricing concerns, SRB's operations manager is optimistic about next year's sales outlook. Based on distributor feedback and anticipated growth in at-home coffee consumption, SRB expects demand for its current espresso machine to increase by 25% in the coming year. Management believes that production can expand to meet this demand without exceeding the relevant range. SRB's pricing policy is to apply a 40% markup on total cost, including allocated fixed costs, when setting product prices.
Required:
You are a management accountant at SRB Corporation and have been asked to assist senior management with the following analyses:
(a) Determine the target cost per unit for the proposed higher-quality espresso machine, given the expected selling price and required profit margin.

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這一題的完整詳解

這題要求計算新開發的「高品質濃縮咖啡機」的目標成本（Target Cost per Unit）。目標成本法是一種市場導向的定價策略，首先確定市場可接受的售價，然後減去期望的利潤，得出目標成本。

步驟 1：計算新產品的預期售價 (Expected Selling Price)
根據市場分析，新高品質濃縮咖啡機的售價為 $120/unit。

步驟 2：計算目標利潤 (Target Profit Margin)
公司要求 40% 的利潤率。這裡的利潤率是基於「售價」還是「成本」需要明確。通常，利潤率（profit margin）是指基於售價的利潤。如果題目是指「毛利率」（gross profit margin）或「淨利率」（net profit margin），則通常是以售價為基礎。但題目也提到「40% profit margin」，並在後續的 (c) 部分提到「40% markup on total cost」，這顯示在不同情境下，利潤的計算基礎可能不同。

在此題 (a) 中，提到 "achieve a 40% profit margin"。我們假設這是指「毛利率」或「淨利率」，即利潤佔售價的 40%。

目標利潤 = 預期售價 ×\times 目標利潤率
目標利潤 = 120/unit120/unit \times4040% =48/unit

步驟 3：計算目標成本 (Target Cost)
目標成本 = 預期售價 - 目標利潤
目標成本 = 120/unit−120/unit - 48/unit = $72/unit

重要考量：
題目提到「40% profit margin」。在管理會計中，利潤率的計算基礎有時會產生歧義。

  • 基於售價的利潤率 (Profit Margin on Sales): Profit = Sales ×\times Margin.
  • 基於成本的加成 (Markup on Cost): Profit = Cost ×\times Markup.

如果題目中的 "40% profit margin" 是指「加成 40%」在成本上的話，計算會不同。
但通常「profit margin」是指基於銷售額的利潤百分比。
例如，如果售價是 100，利潤率是40100，利潤率是 40%，那麼利潤是 40，成本是 60。如果題目是指「加成4060。 如果題目是指「加成 40%」，則成本是 100 / (1 + 40%) =

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第 (b) 題25 分

【題組共用題幹】
SRB Corporation is a mid-sized manufacturer of home espresso machines competing in the increasingly crowded premium small-appliance market. For several years, SRB has positioned its core espresso machine as a reliable, mid-range product sold through specialty retailers at a list price of 80perunit.Duringthemostrecentaccountingperiod,SRBproducedandsold5,000espressomachines.Thecompany′saccountingdepartmentreportedthefollowingcoststructureforthisproductionvolume:Directmaterialstotaled80 per unit. During the most recent accounting period, SRB produced and sold 5,000 espresso machines. The company's accounting department reported the following cost structure for this production volume: Direct materials totaled 18,250, direct labor amounted to 36,250,andvariablemanufacturingoverheadwas36,250, and variable manufacturing overhead was 22,250. In addition, SRB incurred 59,000infixedmanufacturingoverhead.Beyondmanufacturing,variablenonmanufacturingcostswere59,000 in fixed manufacturing overhead. Beyond manufacturing, variable nonmanufacturing costs were 19,750, while fixed nonmanufacturing costs totaled 41,000.Totalcostsfortheperiodwere41,000. Total costs for the period were 196,500.
As competition intensifies and consumer expectations evolve, SRB's senior management team is reassessing its pricing and cost strategies. The marketing research department has proposed developing a higher-quality espresso machine featuring improved durability and enhanced brewing performance. Market analysis suggests that this upgraded model could command a selling price of 120perunit.However,topmanagementhasstatedthatitwillapprovetheprojectonlyiftheproductcanachievea40Atthesametime,aseparatemarketstudyhasraisedconcernsaboutSRB′scurrentproduct.Thestudysuggeststhatcompetitivepressuresmayforcethecompanytoreducethesellingpriceofitsexistingespressomachineto120 per unit. However, top management has stated that it will approve the project only if the product can achieve a 40% profit margin. Management has asked the accounting team to determine whether this target is feasible from a cost perspective. At the same time, a separate market study has raised concerns about SRB's current product. The study suggests that competitive pressures may force the company to reduce the selling price of its existing espresso machine to 60 per unit in order to maintain market share. Management wishes to preserve the same 40% profit margin on the existing product and is considering whether proportional cost reductions across all cost categories could make this price reduction viable.
Independently of these pricing concerns, SRB's operations manager is optimistic about next year's sales outlook. Based on distributor feedback and anticipated growth in at-home coffee consumption, SRB expects demand for its current espresso machine to increase by 25% in the coming year. Management believes that production can expand to meet this demand without exceeding the relevant range. SRB's pricing policy is to apply a 40% markup on total cost, including allocated fixed costs, when setting product prices.
Required:
You are a management accountant at SRB Corporation and have been asked to assist senior management with the following analyses:
(b) Assuming SRB must reduce the selling price of its existing espresso machine to $60 while maintaining a 40% profit margin, calculate the percentage reduction required in all listed cost categories, assuming costs are reduced proportionally.

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這一題的完整詳解

此題要求計算為了在新的售價 $60 下維持 40% 的利潤率，所有成本類別需要按比例降低的百分比。

步驟 1：計算現有產品的總成本 (Total Costs)
根據題目提供的資訊，生產 5,000 台現有產品的總成本為 196,500。現有產品的單位成本=196,500。 現有產品的單位成本 = 196,500 / 5,000 units = $39.30/unit。

步驟 2：計算新的目標售價 (New Target Selling Price)
新的售價為 $60/unit。

步驟 3：計算維持 40% 利潤率所需的新目標成本 (New Target Cost)
與 (a) 小題的邏輯相同，我們假設 40% 的利潤率是基於售價。
目標利潤 = 新售價 ×\times 利潤率
目標利潤 = 60/unit60/unit \times4040% =24/unit

目標成本 = 新售價 - 目標利潤
目標成本 = 60/unit−60/unit - 24/unit = $36/unit

步驟 4：計算總目標成本 (Total Target Cost)
假設產量維持在 5,000 台（題目未說明產量變化，且後續 (c) 小題提到產量增加，但 (b) 小題是獨立於此情境的）。
總目標成本 = 目標單位成本 ×\times 產量
總目標成本 = 36/unit36/unit \times5,000units=5,000 units =180,000

步驟 5：計算總成本需要降低的金額
目前總成本 = 196,500總目標成本=196,500 總目標成本 = 180,000
總成本需要降低的金額 = 196,500−196,500 - 180,000 = $16,500

步驟 6：計算總成本需要降低的百分比
成本降低百分比 = (總成本降低金額 / 目前總成本) ×\times 100%
成本降低百分比 = (16,500/16,500 / 196,500) ×\times 100% ≈\approx 8.397%

步驟 7：確認題目要求「所有成本類別」按比例降低
題目要求「proportional cost reductions across all cost categories」。這意味著所有的成本類別（包括直接材料、直接人工、變動製造費用、固定製造費用、變動非製造費用、固定非製造費用）都需要按相同的百分比進行降低。

計算現有產品的各項成本：

  • Direct materials: $18,250
  • Direct labor: $36,250
  • Variable manufacturing overhead: $22,250
  • Fixed manufacturing overhead: $59,000
  • Variable nonmanufacturing costs: $19,750
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第 (c) 題25 分

【題組共用題幹】
SRB Corporation is a mid-sized manufacturer of home espresso machines competing in the increasingly crowded premium small-appliance market. For several years, SRB has positioned its core espresso machine as a reliable, mid-range product sold through specialty retailers at a list price of 80perunit.Duringthemostrecentaccountingperiod,SRBproducedandsold5,000espressomachines.Thecompany′saccountingdepartmentreportedthefollowingcoststructureforthisproductionvolume:Directmaterialstotaled80 per unit. During the most recent accounting period, SRB produced and sold 5,000 espresso machines. The company's accounting department reported the following cost structure for this production volume: Direct materials totaled 18,250, direct labor amounted to 36,250,andvariablemanufacturingoverheadwas36,250, and variable manufacturing overhead was 22,250. In addition, SRB incurred 59,000infixedmanufacturingoverhead.Beyondmanufacturing,variablenonmanufacturingcostswere59,000 in fixed manufacturing overhead. Beyond manufacturing, variable nonmanufacturing costs were 19,750, while fixed nonmanufacturing costs totaled 41,000.Totalcostsfortheperiodwere41,000. Total costs for the period were 196,500.
As competition intensifies and consumer expectations evolve, SRB's senior management team is reassessing its pricing and cost strategies. The marketing research department has proposed developing a higher-quality espresso machine featuring improved durability and enhanced brewing performance. Market analysis suggests that this upgraded model could command a selling price of 120perunit.However,topmanagementhasstatedthatitwillapprovetheprojectonlyiftheproductcanachievea40Atthesametime,aseparatemarketstudyhasraisedconcernsaboutSRB′scurrentproduct.Thestudysuggeststhatcompetitivepressuresmayforcethecompanytoreducethesellingpriceofitsexistingespressomachineto120 per unit. However, top management has stated that it will approve the project only if the product can achieve a 40% profit margin. Management has asked the accounting team to determine whether this target is feasible from a cost perspective. At the same time, a separate market study has raised concerns about SRB's current product. The study suggests that competitive pressures may force the company to reduce the selling price of its existing espresso machine to 60 per unit in order to maintain market share. Management wishes to preserve the same 40% profit margin on the existing product and is considering whether proportional cost reductions across all cost categories could make this price reduction viable.
Independently of these pricing concerns, SRB's operations manager is optimistic about next year's sales outlook. Based on distributor feedback and anticipated growth in at-home coffee consumption, SRB expects demand for its current espresso machine to increase by 25% in the coming year. Management believes that production can expand to meet this demand without exceeding the relevant range. SRB's pricing policy is to apply a 40% markup on total cost, including allocated fixed costs, when setting product prices.
Required:
You are a management accountant at SRB Corporation and have been asked to assist senior management with the following analyses:
(c) Ignoring the pricing scenario in part (b) above, analyze the impact of the anticipated 25% increase in demand. Assuming SRB applies a 40% markup on total cost and remains within the relevant range, calculate total profit.

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這一題的完整詳解

此題要求分析預期需求增加 25% 對公司總利潤的影響，並計算在 SRB 的標準定價政策（總成本加 40% 的加成）下，預計的總利潤。

步驟 1：確定新預期的產量和銷售量
現有產品的產量和銷售量為 5,000 台。
預期需求增加 25%，所以新預期的產量和銷售量 = 5,000 台 ×\times (1 + 25%) = 5,000 台 ×\times 1.25 = 6,250 台。
題目提到「production can expand to meet this demand without exceeding the relevant range」，這意味著公司有足夠的產能來滿足增加的需求，並且固定成本在相關範圍內不會改變。

步驟 2：計算新產量下的總變動成本 (Total Variable Costs)
我們需要先計算現有產量下的單位變動成本。

  • Direct materials: 18,250/5,000units=18,250 / 5,000 units = 3.65/unit
  • Direct labor: 36,250/5,000units=36,250 / 5,000 units = 7.25/unit
  • Variable manufacturing overhead: 22,250/5,000units=22,250 / 5,000 units = 4.45/unit
  • Variable nonmanufacturing costs: 19,750/5,000units=19,750 / 5,000 units = 3.95/unit
    總單位變動成本 (Total Variable Cost per Unit) = 3.65+3.65 + 7.25 + 4.45+4.45 + 3.95 = $19.30/unit。

新預期的總變動成本 = 6,250 units ×\times 19.30/unit=19.30/unit = 120,625。

步驟 3：確定總固定成本 (Total Fixed Costs)
題目提到 SRB 的定價政策是「apply a 40% markup on total cost, including allocated fixed costs」。
這意味著我們需要使用「總成本」（包含固定成本）來計算定價。
現有產量下的固定成本：

  • Fixed manufacturing overhead: $59,000
  • Fixed nonmanufacturing costs: 41,000總固定成本(TotalFixedCosts)=41,000 總固定成本 (Total Fixed Costs) = 59,000 + 41,000=41,000 = 100,000。
    由於產量增加在相關範圍內，固定成本保持不變。
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第 (d) 題25 分

【題組共用題幹】
SRB Corporation is a mid-sized manufacturer of home espresso machines competing in the increasingly crowded premium small-appliance market. For several years, SRB has positioned its core espresso machine as a reliable, mid-range product sold through specialty retailers at a list price of 80perunit.Duringthemostrecentaccountingperiod,SRBproducedandsold5,000espressomachines.Thecompany′saccountingdepartmentreportedthefollowingcoststructureforthisproductionvolume:Directmaterialstotaled80 per unit. During the most recent accounting period, SRB produced and sold 5,000 espresso machines. The company's accounting department reported the following cost structure for this production volume: Direct materials totaled 18,250, direct labor amounted to 36,250,andvariablemanufacturingoverheadwas36,250, and variable manufacturing overhead was 22,250. In addition, SRB incurred 59,000infixedmanufacturingoverhead.Beyondmanufacturing,variablenonmanufacturingcostswere59,000 in fixed manufacturing overhead. Beyond manufacturing, variable nonmanufacturing costs were 19,750, while fixed nonmanufacturing costs totaled 41,000.Totalcostsfortheperiodwere41,000. Total costs for the period were 196,500.
As competition intensifies and consumer expectations evolve, SRB's senior management team is reassessing its pricing and cost strategies. The marketing research department has proposed developing a higher-quality espresso machine featuring improved durability and enhanced brewing performance. Market analysis suggests that this upgraded model could command a selling price of 120perunit.However,topmanagementhasstatedthatitwillapprovetheprojectonlyiftheproductcanachievea40Atthesametime,aseparatemarketstudyhasraisedconcernsaboutSRB′scurrentproduct.Thestudysuggeststhatcompetitivepressuresmayforcethecompanytoreducethesellingpriceofitsexistingespressomachineto120 per unit. However, top management has stated that it will approve the project only if the product can achieve a 40% profit margin. Management has asked the accounting team to determine whether this target is feasible from a cost perspective. At the same time, a separate market study has raised concerns about SRB's current product. The study suggests that competitive pressures may force the company to reduce the selling price of its existing espresso machine to 60 per unit in order to maintain market share. Management wishes to preserve the same 40% profit margin on the existing product and is considering whether proportional cost reductions across all cost categories could make this price reduction viable.
Independently of these pricing concerns, SRB's operations manager is optimistic about next year's sales outlook. Based on distributor feedback and anticipated growth in at-home coffee consumption, SRB expects demand for its current espresso machine to increase by 25% in the coming year. Management believes that production can expand to meet this demand without exceeding the relevant range. SRB's pricing policy is to apply a 40% markup on total cost, including allocated fixed costs, when setting product prices.
Required:
You are a management accountant at SRB Corporation and have been asked to assist senior management with the following analyses:
(d) At the current sales level, calculate SRB's degree of operating leverage (DOL). Interpret this measure and discuss what it implies.

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這一題的完整詳解

此題要求計算現有銷售水平下的經營槓桿係數 (Degree of Operating Leverage, DOL)，並解釋其含義。

步驟 1：計算現有銷售水平下的相關數據

  • 銷售量 (Sales Volume) = 5,000 units
  • 銷售價格 (Selling Price, P) = $80/unit (原價)
  • 總收入 (Total Revenue) = 5,000 units ×\times 80/unit=80/unit = 400,000

步驟 2：計算總變動成本 (Total Variable Costs)
在 (c) 部分，我們計算了單位變動成本為 19.30/unit。總變動成本(TotalVariableCosts)=5,000units19.30/unit。 總變動成本 (Total Variable Costs) = 5,000 units \times 19.30/unit = 96,500。(驗證：96,500。 (驗證：18,250 (DM) + 36,250(DL)+36,250 (DL) + 22,250 (VMOH) + 19,750(VNM)=19,750 (VNM) = 96,500)

步驟 3：計算總固定成本 (Total Fixed Costs)
總固定成本 (Total Fixed Costs) = Fixed manufacturing overhead + Fixed nonmanufacturing costs
總固定成本 = 59,000+59,000 + 41,000 = $100,000。

步驟 4：計算邊際貢獻 (Contribution Margin, CM)
邊際貢獻 = 總收入 - 總變動成本
邊際貢獻 = 400,000−400,000 - 96,500 = $303,500。

步驟 5：計算經營槓桿係數 (Degree of Operating Leverage, DOL)
DOL 的計算公式有兩種：

  1. DOL = 邊際貢獻 / 營業利潤 (Operating Income)
  2. DOL = (% 營業利潤變化率) / (% 銷售額變化率)

首先，我們需要計算營業利潤。
營業利潤 (Operating Income) = 邊際貢獻 - 總固定成本
營業利潤 = 303,500−303,500 - 100,000 = $203,500。

使用第一個公式計算 DOL：
DOL = 303,500/303,500 / 203,500 ≈\approx 1.4914

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第 (e) 題25 分

【題組共用題幹】
SRB Corporation is a mid-sized manufacturer of home espresso machines competing in the increasingly crowded premium small-appliance market. For several years, SRB has positioned its core espresso machine as a reliable, mid-range product sold through specialty retailers at a list price of 80perunit.Duringthemostrecentaccountingperiod,SRBproducedandsold5,000espressomachines.Thecompany′saccountingdepartmentreportedthefollowingcoststructureforthisproductionvolume:Directmaterialstotaled80 per unit. During the most recent accounting period, SRB produced and sold 5,000 espresso machines. The company's accounting department reported the following cost structure for this production volume: Direct materials totaled 18,250, direct labor amounted to 36,250,andvariablemanufacturingoverheadwas36,250, and variable manufacturing overhead was 22,250. In addition, SRB incurred 59,000infixedmanufacturingoverhead.Beyondmanufacturing,variablenonmanufacturingcostswere59,000 in fixed manufacturing overhead. Beyond manufacturing, variable nonmanufacturing costs were 19,750, while fixed nonmanufacturing costs totaled 41,000.Totalcostsfortheperiodwere41,000. Total costs for the period were 196,500.
As competition intensifies and consumer expectations evolve, SRB's senior management team is reassessing its pricing and cost strategies. The marketing research department has proposed developing a higher-quality espresso machine featuring improved durability and enhanced brewing performance. Market analysis suggests that this upgraded model could command a selling price of 120perunit.However,topmanagementhasstatedthatitwillapprovetheprojectonlyiftheproductcanachievea40Atthesametime,aseparatemarketstudyhasraisedconcernsaboutSRB′scurrentproduct.Thestudysuggeststhatcompetitivepressuresmayforcethecompanytoreducethesellingpriceofitsexistingespressomachineto120 per unit. However, top management has stated that it will approve the project only if the product can achieve a 40% profit margin. Management has asked the accounting team to determine whether this target is feasible from a cost perspective. At the same time, a separate market study has raised concerns about SRB's current product. The study suggests that competitive pressures may force the company to reduce the selling price of its existing espresso machine to 60 per unit in order to maintain market share. Management wishes to preserve the same 40% profit margin on the existing product and is considering whether proportional cost reductions across all cost categories could make this price reduction viable.
Independently of these pricing concerns, SRB's operations manager is optimistic about next year's sales outlook. Based on distributor feedback and anticipated growth in at-home coffee consumption, SRB expects demand for its current espresso machine to increase by 25% in the coming year. Management believes that production can expand to meet this demand without exceeding the relevant range. SRB's pricing policy is to apply a 40% markup on total cost, including allocated fixed costs, when setting product prices.
Required:
You are a management accountant at SRB Corporation and have been asked to assist senior management with the following analyses:
(e) Following the analyses in parts (a)~(d) above, the CFO has asked you to prepare an internal memo to senior management addressing the implications of the proposed pricing and cost strategies. Provide a clear recommendation on whether SRB should prioritize (i) cost reduction, (ii) product differentiation, or (iii) volume expansion as its primary strategic response. Justify your recommendation and discuss the uncertainties using cost and management accounting logic. Your memo should be written in a professional business style, clearly structured, and focused on managerial decision usefulness.

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這一題的完整詳解

這題要求撰寫一份內部備忘錄，向高階管理層提出策略建議。建議應基於前面 (a)~(d) 小題的分析結果，並明確建議 SRB 應優先考慮「成本降低」、「產品差異化」或「銷量擴張」作為主要策略。建議需要有充分的理由，並討論相關的不確定性，同時使用成本與管理會計的邏輯，並以專業、結構清晰的商業風格呈現。

備忘錄結構建議：

  1. 主旨 (Memorandum Header): To, From, Date, Subject
  2. 引言 (Introduction): 簡述備忘錄的目的，即回應 CFO 的要求，基於先前的分析提供策略性建議。
  3. 先前分析摘要 (Summary of Previous Analyses):
    • (a) 新產品目標成本： 提出新產品的目標成本 ($72/unit)。強調其可行性與挑戰。
    • (b) 現有產品降價的成本降低要求： 為了維持 40% 利潤率，現有產品的總成本需降低約 8.397%。
    • (c) 銷量增加的影響： 預期銷量增加 25% (至 6,250 台)，在現有成本結構和 40% markup 定價政策下，總利潤預計為 $88,250。
    • (d) 經營槓桿 (DOL)： 計算出 DOL 約為 1.4914，顯示公司具有較高的經營槓桿，利潤對銷售額變動敏感，風險與機會並存。
  4. 策略選項分析 (Analysis of Strategic Options):
    • 選項一：成本降低 (Cost Reduction)
      • 支持論點：
        • (b) 小題顯示，為了在競爭壓力下維持利潤，需要顯著降低成本 (8.397%)。
        • (a) 小題的目標成本 (72/unit)比現有產品的單位變動成本(72/unit) 比現有產品的單位變動成本 (19.30/unit) 加上固定成本分攤還要低，意味著實現新產品的目標成本具有挑戰性，需要積極的成本控制。
        • 降低成本有助於提高利潤率，尤其是在價格競爭激烈時。
        • 高 DOL (d) 表示固定成本佔比較高，透過降低總成本（包括變動和潛在的固定成本削減）可以降低風險。
      • 挑戰/不確定性：
        • 固定成本的降低可能很困難。
        • 過度追求成本降低可能影響產品品質（尤其對於新產品的差異化）。
        • 市場環境的變化（如原物料價格上漲）可能使成本降低目標難以達成。
    • 選項二：產品差異化 (Product Differentiation)
      • 支持論點：
        • (a) 小題的背景是開發「更高品質、更耐用、性能更佳」的濃縮咖啡機，這本身就是產品差異化的體現。
        • 市場競爭激烈，差異化是維持競爭力、避開價格戰的有效手段。
        • 高售價 (
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