1. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin Cost-Volume-Profit Relationships 本量利关系 Noreen Chapter 3

2. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-2 Learning Objective 1 学习目的 1 Explain how changes in activity affect contribution margin and net operating income. 解释作业如何影响贡献毛 利和净营业收入

3. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-3 Basics of Cost-Volume-Profit Analysis 本量利分析基础知识 Contribution Margin (CM) is the amount remaining from sales revenue after variable expenses have been deducted. 贡献毛利 = 销售收入 - 变动成本 Contribution Margin (CM) is the amount remaining from sales revenue after variable expenses have been deducted. 贡献毛利 = 销售收入 - 变动成本

4. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-4 Basics of Cost-Volume-Profit Analysis 本量利分析基础知识 CM is used first to cover fixed expenses. Any remaining CM contributes to net operating income. 净收入 = 贡献毛利 - 固定成本 CM is used first to cover fixed expenses. Any remaining CM contributes to net operating income. 净收入 = 贡献毛利 - 固定成本

5. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-5 The Contribution Approach 贡献毛利法 Sales, variable expenses, and contribution margin can also be expressed on a per unit basis. If Racing sells an additional bicycle, $200 additional CM will be generated to cover fixed expenses and profit. 销售收入，变动成本及贡献毛利可用每单位表示。如果 Racing 再多销售一台 自行车，公司将获得 $200 美元的贡献毛利来含盖固定成本和利润。

6. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-6 The Contribution Approach 贡献毛利法 Each month, Racing must generate at least $80,000 in total CM to break even. 每个月 Racing 必须生产至少 $80,000 总贡献毛利才能达到盈 亏平衡。

7. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-7 The Contribution Approach 贡献毛利法 400 units If Racing sells 400 units in a month, it will be operating at the break-even point. 盈亏分界点

8. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-8 The Contribution Approach 贡献毛利法 401 bikes If Racing sells one more bike (401 bikes), net operating income will increase by $200.

9. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-9 The Contribution Approach 贡献毛利法 We do not need to prepare an income statement to estimate profits at a particular sales volume. Simply multiply the number of units sold above break-even by the contribution margin per unit. 我们不必做损益表 来估算特定销售量下的利润。我们只需将高于盈亏分 界点的销售单位数与单位贡献毛利相乘即可。 If Racing sells 430 bikes, its net income will be $6,000.

10. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-10 Learning Objective 2 学习目的 2 Prepare and interpret a cost-volume-profit (CVP) graph. 制作并解释本量利图

11. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-11 CVP Relationships in Graphic Form 本量利关系 The relationship among revenue, cost, profit and volume can be expressed graphically by preparing a CVP graph. Racing developed contribution margin income statements at 300, 400, and 500 units sold. We will use this information to prepare the CVP graph. 下面是 Racing 公司 销售 300 ， 400 ， 500 自行车的贡献毛利损益表。

12. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-12 CVP Graph 本量利图 Units 单位 Dollars 美元 In a CVP graph, unit volume is usually represented on the horizontal (X) axis and dollars on the vertical (Y) axis. 在本量利图中 ，通常用 X 轴来表示单位量，用 Y 轴 来表示美元。

13. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-13 CVP Graph 本量利图 Units Dollars Fixed Expenses 固定成本

14. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-14 CVP Graph 本量利图 Dollars Units Fixed Expenses 固定成本 Total Expenses 总成本

15. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-15 CVP Graph 本量利图 Fixed Expenses 固定成本 Dollars Total Expenses 总成本 Total Sales 总收入 Units

16. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-16 CVP Graph 本量利图 Dollars Units Break-even point 盈亏分界点 (400 units or $200,000 in sales) Profit Area 盈利 Loss Area 亏损

17. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-17 Learning Objective 3 学习目标 3 Use the contribution margin ratio (CM ratio) to compute changes in contribution margin and net operating income resulting from changes in sales volume. 用贡献毛利率计算由于销售量变 化引起的贡献毛利和淨营业收益 变化

18. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-18 Contribution Margin Ratio 贡献毛利率 The contribution margin ratio is: For Racing Bicycle Company the ratio is: Total CM 总贡献毛利 Total sales 总销售收入 CM Ratio = Each $1.00 increase in sales results in a total contribution margin increase of 40¢. 收入每增加 1 美元，总贡献毛利增加 40 美分 = 40% $80,000 $200,000 贡献毛利率

19. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-19 Contribution Margin Ratio 贡献毛利率 Or, in terms of units, the contribution margin ratio is: For Racing Bicycle Company the ratio is: $200 $500 = 40% Unit CM 单位贡献毛利 Unit selling price 单位销售价格 CM Ratio = 贡献毛利率

20. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-20 Contribution Margin Ratio 贡献毛利率 A $50,000 increase in sales revenue results in a $20,000 increase in CM. 销售增加 $50,000 ，贡献毛利增加 $20,000 。 ($50,000 × 40% = $20,000) A $50,000 increase in sales revenue results in a $20,000 increase in CM. 销售增加 $50,000 ，贡献毛利增加 $20,000 。 ($50,000 × 40% = $20,000)

21. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-21 Quick Check Coffee Klatch is an espresso stand in a downtown office building. The average selling price of a cup of coffee is $1.49 and the average variable expense per cup is $0.36. The average fixed expense per month is $1,300. 2,100 cups are sold each month on average. What is the CM Ratio for Coffee Klatch? a. 1.319 b. 0.758 c. 0.242 d. 4.139

22. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-22 Coffee Klatch is an espresso stand in a downtown office building. The average selling price of a cup of coffee is $1.49 and the average variable expense per cup is $0.36. The average fixed expense per month is $1,300. 2,100 cups are sold each month on average. What is the CM Ratio for Coffee Klatch? a. 1.319 b. 0.758 c. 0.242 d. 4.139 Quick Check Unit contribution margin Unit selling price CM Ratio = = ($1.49-$0.36) $1.49 = $1.13 $1.49 = 0.758

23. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-23 Learning Objective 4 学习目的 4 Show the effects on contribution margin of changes in variable costs, fixed costs, selling price, and volume. contribution margin of changes in variable costs, fixed costs, selling price, and volume.变动成本，固定成本，销售价格和销售量的变化对贡献毛利的影响

24. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-24 Changes in Fixed Costs and Sales Volume 固定成本和销售量的变化 What is the profit impact if Racing can increase unit sales from 500 to 540 by increasing the monthly advertising budget by $10,000? 如果 Racing 每月增加 $10,000 做 广告，将销售量从 500 台增加到 540 台，那么 对利润会有什么影响？

25. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-25 Changes in Fixed Costs and Sales Volume 固定成本和销售量的变化 $80,000 + $10,000 advertising = $90,000 Sales increased by $20,000, but net operating income decreased by $2,000. 销售增加了 $20,000, 但淨营业收入减少了 $2,000 。 Sales increased by $20,000, but net operating income decreased by $2,000. 销售增加了 $20,000, 但淨营业收入减少了 $2,000 。

26. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-26 Changes in Fixed Costs and Sales Volume The Shortcut Solution 捷径算法

27. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-27 Change in Variable Costs and Sales Volume 变动成本和销售量的变化对利润的影响 What is the profit impact if Racing can use higher quality raw materials, thus increasing variable costs per unit by $10, to generate an increase in unit sales from 500 to 580? 如果 Racing 选用质量较高原材料, 从而每单位变动成本 增加了 $10, 而销售量从 500 台增加到 580 台，那么对 利润会有什么影响？

28. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-28 Change in Variable Costs and Sales Volume 变动成本和销售量的变化对利润的影响 580 units × $310 variable cost/unit = $179,800 Sales increase by $40,000, and net operating income increases by $10,200. 销售增加 $40,000, 淨营业收益增加 $10,200 。 Sales increase by $40,000, and net operating income increases by $10,200. 销售增加 $40,000, 淨营业收益增加 $10,200 。

29. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-29 Change in Fixed Cost, Sales Price and Volume 固定成本，销售价及销售量的变化对利润的影响 What is the profit impact if Racing (1) cuts its selling price $20 per unit, (2) increases its advertising budget by $15,000 per month, and (3) increases sales from 500 to 650 units per month? 如果 Racing(1) 每台自行车售价降低 $20, (2) 每月广告费 增加 $15,000, 且 (3) 每月销售量从 500 台增加到 650 台，对 公司利润会有如何影响？

30. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-30 Sales increase by $62,000, fixed costs increase by $15,000, and net operating income increases by $2,000. 销售收入增加 $62,000 ，固定成本增加 $15,000, 淨营业收益增 加 $2,000 。 Sales increase by $62,000, fixed costs increase by $15,000, and net operating income increases by $2,000. 销售收入增加 $62,000 ，固定成本增加 $15,000, 淨营业收益增 加 $2,000 。 Change in Fixed Cost, Sales Price and Volume 固定成本，销售价及销售量的变化对利润的影响

31. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-31 Change in Variable Cost, Fixed Cost and Sales Volume 变动成本，固定成本和销售量的变化对利润的影响 What is the profit impact if Racing (1) pays a $15 sales commission per bike sold instead of paying salespersons flat salaries that currently total $6,000 per month, and (2) increases unit sales from 500 to 575 bikes? 如果 Racing(1) 改现行付给销售人员固定薪水每月 $6,000 为付给他们佣金以每售一台自行车付佣金 $15, 且 (2) 每月销售量从 500 台增加到 575 台，对公司利润会 有如何影响？

32. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-32 Change in Variable Cost, Fixed Cost and Sales Volume 变动成本，固定成本和销售量的变化对利润的影响 Sales increase by $37,500, variable costs increase by $31,125, but fixed expenses decrease by $6,000. 销售收入增加 $37,500, 变动成本增加 $31,125, 但固定成本降 低了 $6,000 。 Sales increase by $37,500, variable costs increase by $31,125, but fixed expenses decrease by $6,000. 销售收入增加 $37,500, 变动成本增加 $31,125, 但固定成本降 低了 $6,000 。

33. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-33 Change in Regular Sales Price 销售价格的变化对利润的影响 If Racing has an opportunity to sell 150 bikes to a wholesaler without disturbing sales to other customers or fixed expenses, what price would it quote to the wholesaler if it wants to increase monthly profits by $3,000? 如果 Racing 有机会卖给批发商 150 台自行车，从而不用 卖给其他顾客，省去固定费用， Racing 应向批发商报价 多少以便每月利润增加 $3,000 ？

34. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-34 Change in Regular Sales Price 销售价格的变化对利润的影响

35. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-35 Learning Objective 5 学习目的 5 Compute the break-even point in unit sales and sales dollars. 计算单位盈亏分界点（以 销售单位量及销售额算）

36. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-36 Break-Even Analysis 盈亏分界分析 Break-even analysis can be approached in two ways: 两种方法来进行盈亏平衡分析 1.Equation method 等式法 2.Contribution margin method 贡献毛利法

37. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-37 Equation Method 等式法 Profits = (Sales – Variable expenses) – Fixed expenses 淨利润 = （销售收入 - 变动成本） - 固定成本 Sales = Variable expenses + Fixed expenses + Profits 销售收入 = 变动成本 + 固定成本 + 淨利润 OR At the break-even point profits equal zero 在盈亏分界点，利润等于零

38. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-38 Break-Even Analysis 盈亏分界分析 Here is the information from Racing Bicycle Company: 以下是 Racing 公司信息

39. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-39 Equation Method 等式法 We calculate the break-even point as follows: Sales = Variable expenses + Fixed expenses + Profits 销售收入 = 变动成本 + 固定成本 + 淨利润 Sales = Variable expenses + Fixed expenses + Profits 销售收入 = 变动成本 + 固定成本 + 淨利润 $500Q = $300Q + $80,000 + $0 Where: Q = Number of bikes sold $500 = Unit selling price $300 = Unit variable expense $80,000 = Total fixed expense

40. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-40 Equation Method 等式法 $500Q = $300Q + $80,000 + $0 $200Q = $80,000 Q = $80,000 ÷ $200 per bike Q = 400 bikes We calculate the break-even point as follows: Sales = Variable expenses + Fixed expenses + Profits 销售收入 = 变动成本 + 固定成本 + 淨利润 Sales = Variable expenses + Fixed expenses + Profits 销售收入 = 变动成本 + 固定成本 + 淨利润

41. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-41 Equation Method 等式法 The equation can be modified to calculate the break- even point in sales dollars. 用下列等式计算销售额 Sales = Variable expenses + Fixed expenses + Profits 销售收入 = 变动成本 + 固定成本 + 利润 Sales = Variable expenses + Fixed expenses + Profits 销售收入 = 变动成本 + 固定成本 + 利润 X = 0.60X + $80,000 + $0 X = 0.60X + $80,000 + $0 Where: X = Total sales dollars 销售额 （美元） 0.60 = Variable expenses as a % of sales $80,000 = Total fixed expenses

42. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-42 Equation Method 等式法 X = 0.60X + $80,000 + $0 0.40X = $80,000 X = $80,000 ÷ 0.40 X = $200,000 Sales = Variable expenses + Fixed expenses + Profits 销售收入 = 变动成本 + 固定成本 + 利润 Sales = Variable expenses + Fixed expenses + Profits 销售收入 = 变动成本 + 固定成本 + 利润 The equation can be modified to calculate the break-even point in sales dollars.

43. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-43 Contribution Margin Method 贡献毛利法 The contribution margin method has two key equations. Fixed expenses 固定成本 CM per unit 单位贡献毛利 = Break-even point in units sold 盈亏分界点（台数） Fixed expenses 固定成本 CM ratio 贡献毛利 率 = Break-even point in total sales dollars 盈亏分界点（美元）

44. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-44 Contribution Margin Method 贡献毛利法 Let’s use the contribution margin method to calculate the break-even point in total sales dollars at Racing. 用贡献毛利法计算 Racing 盈亏分界点的总销售美元 Fixed expenses 固定成本 CM ratio 贡献毛利率 = Break-even point in total sales dollars 盈亏分界点（美元） $80,00040% = $200,000 break-even sales

45. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-45 Quick Check Coffee Klatch is an espresso stand in a downtown office building. The average selling price of a cup of coffee is $1.49 and the average variable expense per cup is $0.36. The average fixed expense per month is $1,300. 2,100 cups are sold each month on average. What is the break-even sales in units? a.872 cups b. 3,611 cups c. 1,200 cups d. 1,150 cups Coffee Klatch is an espresso stand in a downtown office building. The average selling price of a cup of coffee is $1.49 and the average variable expense per cup is $0.36. The average fixed expense per month is $1,300. 2,100 cups are sold each month on average. What is the break-even sales in units? a.872 cups b. 3,611 cups c. 1,200 cups d. 1,150 cups

46. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-46 Coffee Klatch is an espresso stand in a downtown office building. The average selling price of a cup of coffee is $1.49 and the average variable expense per cup is $0.36. The average fixed expense per month is $1,300. 2,100 cups are sold each month on average. What is the break-even sales in units? a.872 cups b. 3,611 cups c. 1,200 cups d. 1,150 cups Coffee Klatch is an espresso stand in a downtown office building. The average selling price of a cup of coffee is $1.49 and the average variable expense per cup is $0.36. The average fixed expense per month is $1,300. 2,100 cups are sold each month on average. What is the break-even sales in units? a.872 cups b. 3,611 cups c. 1,200 cups d. 1,150 cups Quick Check Fixed expenses CM per Unit Break-even = $1,300 $1.49/cup - $0.36/cup = $1,300 $1.13/cup = 1,150 cups =

47. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-47 Quick Check Coffee Klatch is an espresso stand in a downtown office building. The average selling price of a cup of coffee is $1.49 and the average variable expense per cup is $0.36. The average fixed expense per month is $1,300. 2,100 cups are sold each month on average. What is the break-even sales in dollars? a. $1,300 b. $1,715 c. $1,788 d. $3,129 Coffee Klatch is an espresso stand in a downtown office building. The average selling price of a cup of coffee is $1.49 and the average variable expense per cup is $0.36. The average fixed expense per month is $1,300. 2,100 cups are sold each month on average. What is the break-even sales in dollars? a. $1,300 b. $1,715 c. $1,788 d. $3,129

48. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-48 Coffee Klatch is an espresso stand in a downtown office building. The average selling price of a cup of coffee is $1.49 and the average variable expense per cup is $0.36. The average fixed expense per month is $1,300. 2,100 cups are sold each month on average. What is the break-even sales in dollars? a. $1,300 b. $1,715 c. $1,788 d. $3,129 Coffee Klatch is an espresso stand in a downtown office building. The average selling price of a cup of coffee is $1.49 and the average variable expense per cup is $0.36. The average fixed expense per month is $1,300. 2,100 cups are sold each month on average. What is the break-even sales in dollars? a. $1,300 b. $1,715 c. $1,788 d. $3,129 Quick Check Fixed expenses CM Ratio Break-even sales $1,300 0.758 = $1,715 = =

49. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-49 Learning Objective 6 学习目的 6 Determine the level of sales needed to achieve a desired target profit. 决定达到既定目标利润时 的销售水平

50. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-50 Target Profit Analysis 目标利润分析法 The equation and contribution margin methods can be used to determine the sales volume needed to achieve a target profit. 等式法和贡献毛利法可用来决定销售量以达到某目标 利润。 Suppose Racing Bicycle Company wants to know how many bikes must be sold to earn a profit of $100,000. 假定 Racing 想赢得 $100,000 目标利润，那么 Racing 必 须要销售多少台自行车呢？

51. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-51 The CVP Equation Method 本量利等式法 Sales = Variable expenses + Fixed expenses + Profits 销售收入 = 变动成本 + 固定成本 + 利润 Sales = Variable expenses + Fixed expenses + Profits 销售收入 = 变动成本 + 固定成本 + 利润 $500Q = $300Q + $80,000 + $100,000 $200Q = $180,000 Q = 900 bikes

52. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-52 The Contribution Margin Approach 贡献毛利法 The contribution margin method can be used to determine that 900 bikes must be sold to earn the target profit of $100,000. 贡献毛利法确定必须卖出 900 台自行车才能赢得既定 利润 $100,000 。 Fixed expenses + Target profit 固定成本 + 目标利润 CM per unit 贡献毛利 / 台 = Unit sales to attain the target profit 出售台数 $80,000 + $100,000 $200/bike = 900 bikes

53. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-53 Quick Check Coffee Klatch is an espresso stand in a downtown office building. The average selling price of a cup of coffee is $1.49 and the average variable expense per cup is $0.36. The average fixed expense per month is $1,300. How many cups of coffee would have to be sold to attain target profits of $2,500 per month? a. 3,363 cups b. 2,212 cups c. 1,150 cups d. 4,200 cups Coffee Klatch is an espresso stand in a downtown office building. The average selling price of a cup of coffee is $1.49 and the average variable expense per cup is $0.36. The average fixed expense per month is $1,300. How many cups of coffee would have to be sold to attain target profits of $2,500 per month? a. 3,363 cups b. 2,212 cups c. 1,150 cups d. 4,200 cups

54. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-54 Coffee Klatch is an espresso stand in a downtown office building. The average selling price of a cup of coffee is $1.49 and the average variable expense per cup is $0.36. The average fixed expense per month is $1,300. How many cups of coffee would have to be sold to attain target profits of $2,500 per month? a. 3,363 cups b. 2,212 cups c. 1,150 cups d. 4,200 cups Coffee Klatch is an espresso stand in a downtown office building. The average selling price of a cup of coffee is $1.49 and the average variable expense per cup is $0.36. The average fixed expense per month is $1,300. How many cups of coffee would have to be sold to attain target profits of $2,500 per month? a. 3,363 cups b. 2,212 cups c. 1,150 cups d. 4,200 cups Quick Check Fixed expenses + Target profit Unit CM Unit sales to attain target profit = 3,363 cups = $3,800 $1.13 $1,300 + $2,500 $1.49 - $0.36 = =

55. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-55 Learning Objective 7 学习目标 7 Compute the margin of safety and explain its significance. 计算安全边际并解释其重 要性

56. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-56 The Margin of Safety 安全边际 The margin of safety is the excess of budgeted (or actual) sales over the break-even volume of sales. 安全边际为预算（或实际）销售收入超过盈亏分界 点销售量的部分。 Margin of safety = Total sales - Break-even sales 安全边际 = 总销售收入 - 盈亏分界点销售收入 Margin of safety = Total sales - Break-even sales 安全边际 = 总销售收入 - 盈亏分界点销售收入 Let’s look at Racing Bicycle Company and determine the margin of safety.

57. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-57 The Margin of Safety 安全边际 If we assume that Racing Bicycle Company has actual sales of $250,000, given that we have already determined the break-even sales to be $200,000, the margin of safety is $50,000 as shown. 假设 Racing 自行车公司实际销售收入为 $250,000 ，我们又知在盈亏 分界点时的销售收入为 $200,000, 那么安全边际为 $50,000 。

58. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-58 The Margin of Safety 安全边际 The margin of safety can be expressed as 20% of sales. 安全边际率还可表达为 20% 销售收入。 ($50,000 ÷ $250,000)

59. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-59 The Margin of Safety 安全边际 The margin of safety can be expressed in terms of the number of units sold. The margin of safety at Racing is $50,000, and each bike sells for $500. 安全边际可表达为销售台数。安全边际为 $50,000 时, 每 台自行车售价为 $500 。 Margin of Safety in units == 100 bikes $50,000 $500

60. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-60 Quick Check Coffee Klatch is an espresso stand in a downtown office building. The average selling price of a cup of coffee is $1.49 and the average variable expense per cup is $0.36. The average fixed expense per month is $1,300. 2,100 cups are sold each month on average. What is the margin of safety? a. 3,250 cups b. 950 cups c. 1,150 cups d. 2,100 cups Coffee Klatch is an espresso stand in a downtown office building. The average selling price of a cup of coffee is $1.49 and the average variable expense per cup is $0.36. The average fixed expense per month is $1,300. 2,100 cups are sold each month on average. What is the margin of safety? a. 3,250 cups b. 950 cups c. 1,150 cups d. 2,100 cups

61. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-61 Coffee Klatch is an espresso stand in a downtown office building. The average selling price of a cup of coffee is $1.49 and the average variable expense per cup is $0.36. The average fixed expense per month is $1,300. 2,100 cups are sold each month on average. What is the margin of safety? a. 3,250 cups b. 950 cups c. 1,150 cups d. 2,100 cups Coffee Klatch is an espresso stand in a downtown office building. The average selling price of a cup of coffee is $1.49 and the average variable expense per cup is $0.36. The average fixed expense per month is $1,300. 2,100 cups are sold each month on average. What is the margin of safety? a. 3,250 cups b. 950 cups c. 1,150 cups d. 2,100 cups Quick Check Margin of safety = Total sales – Break-even sales = 950 cups = 2,100 cups – 1,150 cups or 950 cups 2,100 cups Margin of safety percentage == 45%

62. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-62 Cost Structure and Profit Stability 成本结构与利润稳定性 Cost structure refers to the relative proportion of fixed and variable costs in an organization. Managers often have some latitude in determining their organization’s cost structure. 成本结构指的是一个公司固定和变动成本的相对比例 。经理们经常有权决定公司的成本结构。

63. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-63 Cost Structure and Profit Stability 成本结构与利润稳定性 There are advantages and disadvantages to high fixed cost (or low variable cost) and low fixed cost (or high variable cost) structures. 高固定成本（或低变动成本）和低固定成本（或高 变动成本）结构有优缺点。 An advantage of a high fixed cost structure is that income will be higher in good years compared to companies with lower proportion of fixed costs. 优点：在好的年份, 固定成本比重大 的公司比固定成本比重小的公司 营业收益要高 An advantage of a high fixed cost structure is that income will be higher in good years compared to companies with lower proportion of fixed costs. 优点：在好的年份, 固定成本比重大 的公司比固定成本比重小的公司 营业收益要高 A disadvantage of a high fixed cost structure is that income will be lower in bad years compared to companies with lower proportion of fixed costs. 缺点：在坏的年份, 固定成本比重大 的公司比固定成本比重小的公司 营业收益要低。 A disadvantage of a high fixed cost structure is that income will be lower in bad years compared to companies with lower proportion of fixed costs. 缺点：在坏的年份, 固定成本比重大 的公司比固定成本比重小的公司 营业收益要低。

64. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-64 Learning Objective 8 学习目的 8 Compute the degree of operating leverage at a particular level of sales and explain how it can be used to predict changes in net operating income. 计算特定销售收入水平下的营业 杠杆比率并解释如何用它预测淨 营业收益

65. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-65 Operating Leverage 营业杠杆 A measure of how sensitive net operating income is to percentage changes in sales. 营业杠杆是用来测定营业收益对销售收入百分比 变化的敏感度。 Contribution margin 贡献毛利 Net operating income 淨营业收益 Degree of operating leverage 营业杠杆比率 =

66. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-66 Operating Leverage 营业杠杆 $100,000 $20,000 = 5 At Racing, the degree of operating leverage is 5. Racing 公司营业杠杆比率是 5 。

67. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-67 Operating Leverage 营业杠杆 With an operating leverage of 5, if Racing increases its sales by 10%, net operating income would increase by 50%. 在营业杠杆比率是 5 的情况下，如 Racing 增加销售收入 10% ，那 么淨营业收益将增长 50% 。 Here’s the verification! 验证

68. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-68 Operating Leverage 营业杠杆 10% increase in sales from $250,000 to $275,000... 销售从 $250,000 增长到 $275,000, 增长了 10% 10% increase in sales from $250,000 to $275,000... 销售从 $250,000 增长到 $275,000, 增长了 10%... results in a 50% increase in income from $20,000 to $30,000. 导致营业收益从 $20,000 增长到 $30,000 ，增长了 50 % 。... results in a 50% increase in income from $20,000 to $30,000. 导致营业收益从 $20,000 增长到 $30,000 ，增长了 50 % 。

69. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-69 Quick Check Coffee Klatch is an espresso stand in a downtown office building. The average selling price of a cup of coffee is $1.49 and the average variable expense per cup is $0.36. The average fixed expense per month is $1,300. 2,100 cups are sold each month on average. What is the operating leverage? a. 2.21 b. 0.45 c. 0.34 d. 2.92 Coffee Klatch is an espresso stand in a downtown office building. The average selling price of a cup of coffee is $1.49 and the average variable expense per cup is $0.36. The average fixed expense per month is $1,300. 2,100 cups are sold each month on average. What is the operating leverage? a. 2.21 b. 0.45 c. 0.34 d. 2.92

70. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-70 Coffee Klatch is an espresso stand in a downtown office building. The average selling price of a cup of coffee is $1.49 and the average variable expense per cup is $0.36. The average fixed expense per month is $1,300. 2,100 cups are sold each month on average. What is the operating leverage? a. 2.21 b. 0.45 c. 0.34 d. 2.92 Coffee Klatch is an espresso stand in a downtown office building. The average selling price of a cup of coffee is $1.49 and the average variable expense per cup is $0.36. The average fixed expense per month is $1,300. 2,100 cups are sold each month on average. What is the operating leverage? a. 2.21 b. 0.45 c. 0.34 d. 2.92 Quick Check Contribution margin Net operating income Operating leverage = $2,373 $1,073 = = 2.21

71. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-71 Quick Check At Coffee Klatch the average selling price of a cup of coffee is $1.49, the average variable expense per cup is $0.36, the average fixed expense per month is $1,300 and an average of 2,100 cups are sold each month. If sales increase by 20%, by how much should net operating income increase? a. 30.0% b. 20.0% c. 22.1% d. 44.2% At Coffee Klatch the average selling price of a cup of coffee is $1.49, the average variable expense per cup is $0.36, the average fixed expense per month is $1,300 and an average of 2,100 cups are sold each month. If sales increase by 20%, by how much should net operating income increase? a. 30.0% b. 20.0% c. 22.1% d. 44.2%

72. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-72 At Coffee Klatch the average selling price of a cup of coffee is $1.49, the average variable expense per cup is $0.36, the average fixed expense per month is $1,300 and an average of 2,100 cups are sold each month. If sales increase by 20%, by how much should net operating income increase? a. 30.0% b. 20.0% c. 22.1% d. 44.2% At Coffee Klatch the average selling price of a cup of coffee is $1.49, the average variable expense per cup is $0.36, the average fixed expense per month is $1,300 and an average of 2,100 cups are sold each month. If sales increase by 20%, by how much should net operating income increase? a. 30.0% b. 20.0% c. 22.1% d. 44.2% Quick Check

73. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-73 Verify Increase in Profit 验证利润增长

74. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-74 Structuring Sales Commissions 销售佣金结构 Companies generally compensate salespeople by paying them either a commission based on sales or a salary plus a sales commission. Commissions based on sales dollars can lead to lower profits in a company. 公司通常用佣金 ( 根据销售额提取 ) 或者工资加佣金的方式来补 偿销售人员。 基于销售收入上的佣金结构可导致公司利润降低 。 Let’s look at an example. 让我们来看个例子

75. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-75 Structuring Sales Commissions 销售佣金结构 Pipeline Unlimited produces two types of surfboards( 冲浪板 ), the XR7 and the Turbo. The XR7 sells for $100 and generates a contribution margin per unit of $25. The Turbo sells for $150 and earns a contribution margin per unit of $18. The sales force at Pipeline Unlimited is compensated based on sales commissions. 销售人员以佣金的形式得到补偿。

76. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-76 Structuring Sales Commissions 销售佣金结构 If you were on the sales force at Pipeline, you would push hard to sell the Turbo even though the XR7 earns a higher contribution margin per unit. 如果你是销售人员，你会狠命地推销 Turbo ，即使 XR7 的单位贡献毛利更高。 To eliminate this type of conflict, commissions can be based on contribution margin rather than on selling price alone. 要消除这类冲突，佣金给付可基于贡献毛利而不是单 单基于销售价格。

77. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-77 Learning Objective 9 学习目标 9 Compute the break-even point for a multiproduct company and explain the effects of shifts in the sales mix on contribution margin and the break-even point. 计算多产品公司的盈亏分界点并 解释销售组合的转变对贡献毛利 和盈亏分界点的影响。

78. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-78 The Concept of Sales Mix 销售组合的概念 Sales mix is the relative proportion in which a company’s products are sold. 销售组合是指在企业的销 售产品中，各种产品所占的相对比重。 Different products have different selling prices, cost structures, and contribution margins. 不同产品有不同的售价, 成本结构, 和贡献毛利。 Let’s assume Racing Bicycle Company sells bikes and carts and that the sales mix between the two products remains the same. 我们假设 Racing 公司出售自行车和购物车两种产品，且 这两种产品的销售组合保持不变。

79. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-79 Multi-product break-even analysis 多产品盈亏分界点的分析 Racing Bicycle Co. provides the following information: $265,000 $550,000 = 48.2% (rounded)

80. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-80 Multi-product break-even analysis 多产品盈亏分界点的分析 Fixed expenses CM Ratio Break-even sales $170,000 48.2% = $352,697 = =

81. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-81 Key Assumptions of CVP Analysis 本量利分析的重要假设  Selling price is constant. 售价保持不变  Costs are linear. 成本呈线性关系  In multiproduct companies, the sales mix is constant. 在多产品公司里，销售组合不变。  In manufacturing companies, inventories do not change (units produced = units sold). 制造公司存货不变（生产数 = 销售数）

82. Copyright © The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin 3-82 End of Chapter