管理會計期末考試 EMBA(NCKU) (100-01-8)
一、 簡答題（請按順序作答，本大題有 6 小題，每小題 12 分
至 18 分，共 88 分）
1. 藍海策略(Blue Ocean Strategy)書中提到價值創新
(Value Innovation)及價值曲線(Value Curve)：
(1). 請簡述價值創新 (Value Innovation) 與 ZARA 公司的
創新有何不同？
(2). 請舉例簡述你服務的公司 (或標竿公司) 應如何讓顧
客樂意支付 Willingness to Pay (WTP) 更高的價格?
又如何降低公司的成本？請重繪新價值曲線 (New
Value Curve) ？ (15 分)
2. 存貨管理重視零庫存的生產(JIT)，而 ABC (Activity-Based
Costing) 可算出真正的產品成本，重視有附加價值的活
動，以降低製造費用，ABC 法又可避免產生 Peanut-Butter
Costing。成本數量利潤分析(CVP Analysis) 可算出公司的
損益兩平，又可作 Profit Planning , 及 What If Analysis。
(1) 請簡述 ABC 與 ABM (Activity-Based Management)有何
關係?
(2) 你認為 ABC、Inventory Management 與成本數量利潤分
析何者較為重要？請簡述理由。 (16 分)
3. 管理當局下決策時棌用 Incremental Analysis 或 Discounted
Cash Flow Method, 何種情況棌用 Incremental Analysis?
何種情況棌用 DCF 法？ 下決策時會考慮 Qualitative 因
素及 Soft Benefit。請就資本支出方案抉擇舉例說明
Qualitative Factors 及 Soft Benefit (本題 15 分)
4. 下表為不同折現率下兩個方案的淨現值(Net Present
Value；NPV)。
RRR 5% 7%
9% 11% 13% 15%
A 方案 $600 $400 $250 $100 $0.0 $(150)
B 方案 $400 $300 $200 $100 $50
$0.0
試根據上述資料請回答下列各小題 (本題 15 分)
(1) 試繪出 X 軸為 RRR（Required Rate of Return）
、Y 軸為
NPV 的圖，並計算 Fisher Rate? 圖中 Fisher Rate 之意
義為何？
(2) 如果公司資金之加權平均成本(Weighted Average Cost
of Capital; WACC)為 14%，則應選擇那一個投資方案？
(3) 計算 B 投資方案的內部報酬率
5. 績效衡量會影響經理人的行為，”You Get What You
Measure！”請就下列項目簡述並說明之：(本題 15 分)
(1) 成本分攤(Cost Allocation)應考慮因果關係、利益原則、
能力原則或公平合理；如果公司採直接人工成本法，分
攤製造費用，則經理會採何種行動因應？ 如果公司採
起動次數(Number of Setups)分攤製造費用，則經理會採
何種行動因應？(5 分)
(2) 用營收成長(Growth of Sales)為績效衡量指標，有何負
面影響？用投資報酬率(Return on Investment)為績效指
標，有何負作用？用剩餘利潤(Residual Income) 或經濟
附加價值(Economic Value Added ; EVA)為績效衡量指
標有何負面影響？應如何克服？(10 分)
6. 請繪圖、簡述說明以下幾點理由為何？ （本題 12 分）
(1) 最適的安全存貨量是持有成本與缺貨成本(Shortage
Cost) 的 Trade off
(2) 教學醫院的臨床醫師最適的薪資制度是按件計酬與
固定薪酬的 Trade off (Hint:看診人數 vs.薪酬)
管理會計 NCKU
期末考試 1 (共 2 頁)
二. 解釋以下名詞:（本題 28 分）
(1) Target Costing (6 分)
(2) Agency Problems (6 分)
(3) Theory of Constraints (6 分)
(4) EBITDA 是什麼? 又，EBITDA 應大於 Statement
of Cash Flow 的 Net Cash Flow?
(10 分)
三、管理會計(EMBA) 課程共上了 48 個小時，試問：
(1) 學習協作平台的收穫為何?
(2) 分組報告的收穫為何?
(3) 印象最為深刻或對你的工作最有助益的課題? 試舉例
簡述之。（本題 30 分）
四、英文題（請按順序作答，每小題 15 分。本大題共 5 小題，
請任選 4 題作答，本題共 60 分）
(1)、P4-11 Break-Even Analysis, Margin of Safety, Increase in
Profit Edison Entrepreneur Services, Inc. is a legal services firm
that files the paperwork to incorporate a business. Edision charges
$1,200 for the incorporation application package and plans to file
1,500 applications next year. The company’s projected income
statement for the coming year is:
Sales
Less variable expenses
Contribution margin
Less fixed expenses
Operating income
$1,800,000
1,110,000
690,000
300,000
$390,000
Required:
1. Compute the contribution margin per application and calculate
the break-even point in number of applications (round to the nearest
whole unit, since it is not possible to file a partial application).
Calculate the contribution margin ratio (round to 4 decimal places)
and the break-even sales revenue (round to the nearest dollar).
2. What is the current margin of safety in terms of the number of
units? What is the current margin of safety in terms of the sales
dollars?
3. If Edison wants to have operating income of $450,000 next year,
how many applications must they process (round to the nearest
whole unit)? What dollar level of sales is required to achieve
operating income of $450,000? (Round to the nearest dollar.)
4. The office manager for Edison has proposed that Edison increase
advertising (a fixed cost) for the upcoming year by $80,000; she
feels that this increase in advertising will lead to an increase in sales
of $324,000. Compute the new projected operating income for
this projection. Should Edison increase it advertising to this new
level?
(2) 、 P6-14 Traditional Allocation vs. ABC Allocation of
Manufacturing Overhead Costs
TriTech Co. has been allocating overhead to individual product lines
based on each line’s relative shares of direct labor hours. For the
upcoming year, the company estimated that manufacturing overhead
will be $1,800,000 and estimated direct labor hours will be 120,000.
The company has the following cost information:
管理會計期末考試 EMBA (NCKU) (100/01/08)
管理會計 NCKU
期末考試 2 (共 2 頁)
Cost Pool
Cost Driver
Total Amount
Activity
$13,000,000
$70,000,000
Noninterest-bearing Liabilities
3,000,000
12,000,000
Maintenance costs
Direct Labor Hours
$700,000
Setup costs
Number of setups
$500,000
200
Net income
1,700,000
6,000,000
$600,000
400
Interest expense
1,250,000
7,300,000
Professional services Design changes
120,000
Total assets
TriTech has two products, Standard and Elite switches. Standard
switches is a high-volume product that the company makes in large
batches, while Elite switches are a specialty product that is fairly low
in sales volume. Information about Standard and Elite usage of the
different activities follows:
Standard
Elite
Direct labor hours
2,000
200
Number of setups
1
14
Number of design changes
1
21
Required rate of return
12%
14%
Tax rate
40%
40%
Required:
a. Calculate ROI for both subsidiaries.
b. Calculate EVA for both subsidiaries. Note that since no
adjustments for “accounting distortions” are being made, EVA is
equivalent to residual income.
Required:
(a) Calculate the predetermined overhead rate based on direct labor
hours (traditional allocation). Use this predetermined overhead
rate to calculate the amount of overhead to apply to Standard and
Elite Switches, based on their usage of direct labor hours.
(b) Calculate the individual ABC pool rates by taking the total amount
of overhead for each cost pool and dividing that total by the total
amount of activity for that pool. Allocate overhead to each of the
two products using these three activity rates.
(c) Compare the overhead calculated in part a to that calculated in part
(b). Why are they different?
Which allocation method
(traditional or ABC) most likely results in a better estimate of
product cost?
(3)、E 7-12 Make or Buy Decision
Imperial Corp. produces whirlpool tubs. Currently, the company
uses internally manufactured pumps to power water jets. Imperial
Corp. has found that 40% of the pumps have failed within their
12-month warranty period, causing huge warranty costs. Because of
the company’s inability to manufacture high-quality pumps,
management is considering buying pumps from a reputable
manufacturer who will also bear any related warranty costs.
Imperial’s unit cost of manufacturing pumps is $75 per unit, which
includes $17 of allocated fixed overhead (primarily depreciation of
plant and equipment). Also, the company has spent an average of
$20 (labor and parts) repairing each pump returned. Imperial Corp.
can purchase pumps for $80 per pump.
Required:
c. Which subsidiary has added the most to shareholder value; in the
last year?
d. Based on the limited information, which subsidiary is the best
candidate for expansion? Explain.
(5)、P9-7 NPV, IRR, Payback, and Taxes Adrian Sonnetson, the
owner of Adrian Motors, is considering the addition of a paint and
body shop to his automobile dealership. Construction of a building
and the purchase of necessary equipment are estimated to cost
$800,000 and both the building and equipment will be depreciated
over 10 years using the straight-line method. The building and
equipment have zero estimated residual value at the end of 10 years.
Sonnetson’s required rate of return for this project is 12%. Net income
related to each year of the investment is as follows:
Revenue
$500,000
Less:
Material cost
70,000
Labor
150,000
Depreciation
80,000
Other
10,000
Income before taxes
190,000
Income Taxes (40%)
76,000
Net income
$114,000
Required
(a) During 2011, Imperial Corp. plans to sell 15,000 whirlpools
(requiring 15,000 pumps). Determine whether the company
should make or buy the pumps and the amount of cost savings
related to the best alternative.
a. Determine the net present value of the investment in the paint and
body shop. Should Sonnetson invest in the paint and body shop?
(b) What qualitative factors should be considered in the outsourcing
decision?
c. Calculate the payback period of the investment.
(4)、P12-7 ROI and EVA
ELN Waste Management has a subsidiary that disposes of hazardous
waste and a subsidiary that collects and disposes of residential garbage.
Information related to the two subsidiaries follows:
Hazardous
Residential
Waste
Waste
b. Calculate the internal rate of return of the investment.
Present Value $1