Unit 7 P1 Essay

1511 words - 7 pages

14-11-2104
14-11-2104
yorisha sanstra
ROC Amstelland 297245
yorisha sanstra
ROC Amstelland 297245
Unit 7 finacial m
P1
Unit 7 finacial m
P1

A) Describe different methods an organization can use to calculate a cost price

Cost-plus pricing - Set the price at your production cost, including both cost of goods and fixed costs at your current volume, plus a certain profit margin. For example, your widgets cost €40 in raw materials and production costs, and at sales volume, your fixed costs come to €40 per unit. Your total cost is €80 per unit. You decide that you want to operate at a 20% markup, so you add €20 to the cost and come up with a price of $80 per unit. So long as you ...view middle of the document...

That is 50(kilo) x 4 (amount of products) = €200. And let’s say that the manufacture employed 5 people to do this. Each employee gets paid €2500.
That is 2500 x 5 =12,500.
Variable costs
Variable costs are costs mad based on the output. Example if a company sells tennis balls then all the equipments it needs to produce the tennis ball such as rubber will be based on how many tennis balls the company sells. In order to make a tenis ball you need rubber depending on how much tennis balls they will make. During the production process it uses rubber that wil be glued to each other. After this the felt will be put in 2 separate parts around the bal. This means that the company needs for example: 5 kilo of rubber 6 kilo of glue and 4 kilo of felt. That is 15kilo (5+6+4) of equipments that needs to be paid whether or not it wil be used.

Depreciation
Depreciation is when the value of a certain item that the company owns decreases. For example: Depreciation cost = acquisition price (aanschaf waarde) – residual value : economic life.
Depreciation cost are 302,500 (vat included) = (first calculate excl. vat) 362.500 : 121% x 100 = 250.000
Depreciation cost = 250000-50.000 : 20(year) = 10.000

B) Determine the cost price

Chocolate:
Normal production: 800.000,-
Actual production: 690.000,-
Fixed costs
Cost price (cost + calculation method)
Gather all fixed costs and variable costs.
Fixed costs
Lease cost = 30.000,-
Rent cost = 120.000,-
Insurance = 200.000,-
Depreciation cost = 47.648,-
(968.000 : 100 x 21 = 203.280 – 968.000 = Depreciation cost excluding VAT = 76420
Investment – residual value : economic life
764.720 – 50.000 : 15 =47.648,-)
-------------------------------------------------

Total fixed costs 397.648,-

Variable costs
Materials = 500.000,-
Labor cost = 200.000,-
-----------------------------------------------+
700.000,-
Electricity costs = 185.250,-
(390.000 : 100 x 40 =156.000 = 40% of the electricity cost.
15% is allocated equally so that will be 7,5% = 390.000 : 100 x 7.5 = 29.250,-)
-------------------------------------------+
885.250,-

Fixed : Variable + Normal Production : Actual production = cost price
397.648,- : 885.250,- + 800.000,- : 690.000,- =1,6086 ≈ € 1,61
€ 1,61 is the cost price
Sweet candy wants a profit margins of 25% over the chocolate.
1,61 :100 x 25 =0,4025 + 1,61 = € 2,0125

B.1) Determine the cost price

Chocolate chip cookies:
Normal production: 900.000,-
Actual production: 700.000,-
Fixed costs
Cost price (cost + calculation method)
Gather all fixed costs and variable costs.
Fixed costs
Lease cost = 30.000,-
Rent cost = 120.000,-
Insurance = 200.000,-
Depreciation cost = 35.000,-
(Depreciation cost excluding VAT = 715.000,-
Investment – residual value : economic life
715.000– 15.000 : 20 =35.000,-)
-------------------------------------------------

Total fixed costs 385.00,-

Variable costs
Materials = 600.000,-
Labor cost =...

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