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1 The Great Western Cake Company (GWCC) is a well-established manufacturer of specialist flour confectionery
products, including cakes. GWCC sells its products to national supermarket chains. The company’s success during
recent years is largely attributable to its ability to develop innovative products which appeal to the food selectors within
national supermarket chains.
The marketing department of Superstores plc, a national supermarket chain has asked GWCC to manufacture a cake
known as the ‘Mighty Ben’. Mighty Ben is a character who has recently appeared in a film which was broadcast
around the world. The cake is expected to have a minimum market life of one year although the marketing department
consider that this might extend to eighteen months.
The management accountant of GWCC has collated the following estimated information in respect of the Mighty Ben
cake:
(1) Superstores plc has decided on a launch price of ￡20·25 for the Mighty Ben cake and it is expected that this
price will be maintained for the duration of the product’s life. Superstores plc will apply a 35% mark-up on the
purchase price of each cake from GWCC.
(2) Sales of the Mighty Ben cake are expected to be 100,000 units per month during the first twelve months.
Thereafter sales of the Mighty Ben cake are expected to decrease by 10,000 units in each subsequent month.
(3) Due to the relatively short shelf-life of the Mighty Ben cake, management has decided to manufacture the cakes
on a ‘just-in-time’ basis for delivery in accordance with agreed schedules. The cakes will be manufactured in
batches of 1,000. Direct materials input into the baking process will cost ￡7,000 per batch for each of the first
three months’ production. The material cost of the next three months’ production is expected to be 95% of the
cost of the first three months’ production. All batches manufactured thereafter will cost 90% of the cost of the
second three months’ production.
(4) Packaging costs will amount to ￡0·75 per cake. The original costs of the artwork and design of the packaging
will amount to ￡24,000. Superstores plc will reimburse GWCC ￡8,000 in the event that the product is
withdrawn from sale after twelve months.
(5) The design of the Mighty Ben cake is such that it is required to be hand-finished. A 75% learning curve will
apply to the total labour time requirement until the end of month five. Thereafter a steady state will apply with
labour time required per batch stabilising at that of the final batch in month five. The labour requirement for the
first batch of Mighty Ben cakes to be manufactured is expected to be 6,000 hours at ￡10 per hour.
(6) A royalty of 5% of sales revenue (subject to a maximum royalty of ￡1·1 million) will be payable by GWCC to the
owners of the Mighty Ben copyright.
(7) Variable overheads are estimated at ￡3·50 per direct labour hour.
(8) The manufacture of the Mighty Ben cake will increase fixed overheads by ￡75,000 per month.
(9) In order to provide a production facility dedicated to the Mighty Ben cake, an investment of ￡1,900,000 will be
required and this will be fully depreciated over twelve months.
(10) The directors of GWCC require an average annual return of 35% on their investment over 12 months and
18 months.
(11) Ignore taxation and the present value of cash flows.
Note: Learning curve formula:
y = axb
where y = average cost per batch
a = the cost of the initial batch
x = the total number of batches
b = learning index (= –0·415 for 75% learning rate)
Required:
(a) Prepare detailed calculations to show whether the manufacture of Mighty Ben cakes will provide the required
rate of return for GWCC over periods of twelve months and eighteen months. (20 marks)
参考答案
更多 “ 1 The Great Western Cake Company (GWCC) is a well-established manufacturer of specialist flour confectioneryproducts, including cakes. GWCC sells its products to national supermarket chains. The company’s success duringrecent years is largely attributable to its ability to develop innovative products which appeal to the food selectors withinnational supermarket chains.The marketing department of Superstores plc, a national supermarket chain has asked GWCC to manufacture a cakeknown as the ‘Mighty Ben’. Mighty Ben is a character who has recently appeared in a film which was broadcastaround the world. The cake is expected to have a minimum market life of one year although the marketing departmentconsider that this might extend to eighteen months.The management accountant of GWCC has collated the following estimated information in respect of the Mighty Bencake:(1) Superstores plc has decided on a launch price of ￡20·25 for the Mighty Ben cake and it is expected that thisprice will be maintained for the duration of the product’s life. Superstores plc will apply a 35% mark-up on thepurchase price of each cake from GWCC.(2) Sales of the Mighty Ben cake are expected to be 100,000 units per month during the first twelve months.Thereafter sales of the Mighty Ben cake are expected to decrease by 10,000 units in each subsequent month.(3) Due to the relatively short shelf-life of the Mighty Ben cake, management has decided to manufacture the cakeson a ‘just-in-time’ basis for delivery in accordance with agreed schedules. The cakes will be manufactured inbatches of 1,000. Direct materials input into the baking process will cost ￡7,000 per batch for each of the firstthree months’ production. The material cost of the next three months’ production is expected to be 95% of thecost of the first three months’ production. All batches manufactured thereafter will cost 90% of the cost of thesecond three months’ production.(4) Packaging costs will amount to ￡0·75 per cake. The original costs of the artwork and design of the packagingwill amount to ￡24,000. Superstores plc will reimburse GWCC ￡8,000 in the event that the product iswithdrawn from sale after twelve months.(5) The design of the Mighty Ben cake is such that it is required to be hand-finished. A 75% learning curve willapply to the total labour time requirement until the end of month five. Thereafter a steady state will apply withlabour time required per batch stabilising at that of the final batch in month five. The labour requirement for thefirst batch of Mighty Ben cakes to be manufactured is expected to be 6,000 hours at ￡10 per hour.(6) A royalty of 5% of sales revenue (subject to a maximum royalty of ￡1·1 million) will be payable by GWCC to theowners of the Mighty Ben copyright.(7) Variable overheads are estimated at ￡3·50 per direct labour hour.(8) The manufacture of the Mighty Ben cake will increase fixed overheads by ￡75,000 per month.(9) In order to provide a production facility dedicated to the Mighty Ben cake, an investment of ￡1,900,000 will berequired and this will be fully depreciated over twelve months.(10) The directors of GWCC require an average annual return of 35% on their investment over 12 months and18 months.(11) Ignore taxation and the present value of cash flows.Note: Learning curve formula:y = axbwhere y = average cost per batcha = the cost of the initial batchx = the total number of batchesb = learning index (= –0·415 for 75% learning rate)Required:(a) Prepare detailed calculations to show whether the manufacture of Mighty Ben cakes will provide the requiredrate of return for GWCC over periods of twelve months and eighteen months. (20 marks) ” 相关考题
考题
A company may () its products by mean of newspapers, magazines, television or even skywriting.
A.protestB.salaryC.advertiseD.incompetent
考题
(b) (i) Advise the directors of GWCC on specific actions which may be considered in order to improve theestimated return on their investment of ￡1,900,000. (8 marks)
考题
(c) Explain the term ‘target costing’ and how it may be applied by GWCC. Briefly discuss any potentiallimitations in its application. (8 marks)
考题
This scenario summarises the development of a company called Rock Bottom through three phases, from its founding in 1965 to 2008 when it ceased trading.Phase 1 (1965–1988)In 1965 customers usually purchased branded electrical goods, largely produced by well-established domestic companies, from general stores that stocked a wide range of household products. However, in that year, a recent university graduate, Rick Hein, established his first shop specialising solely in the sale of electrical goods. In contrast to the general stores, Rick Hein’s shop predominantly sold imported Japanese products which were smaller, more reliable and more sophisticated than the products of domestic competitors. Rick Hein quickly established a chain of shops, staffed by young people who understood the capabilities of the products they were selling. He backed this up with national advertising in the press, an innovation at the time for such a specialist shop. He branded his shops as ‘Rock Bottom’, a name which specifically referred to his cheap prices, but also alluded to the growing importance ofrock music and its influence on product sales. In 1969, 80% of sales were of music centres, turntables, amplifiers and speakers, bought by the newly affluent young. Rock Bottom began increasingly to specialise in selling audio equipment.Hein also developed a high public profile. He dressed unconventionally and performed a number of outrageous stunts that publicised his company. He also encouraged the managers of his stores to be equally outrageous. He rewarded their individuality with high salaries, generous bonus schemes and autonomy. Many of the shops were extremely successful, making their managers (and some of their staff) relatively wealthy people.However, by 1980 the profitability of the Rock Bottom shops began to decline significantly. Direct competitors using a similar approach had emerged, including specialist sections in the large general stores that had initially failed to react to the challenge of Rock Bottom. The buying public now expected its electrical products to be cheap and reliable.Hein himself became less flamboyant and toned down his appearance and actions to satisfy the banks who were becoming an increasingly important source of the finance required to expand and support his chain of shops.Phase 2 (1989–2002)In 1988 Hein considered changing the Rock Bottom shops into a franchise, inviting managers to buy their own shops (which at this time were still profitable) and pursuing expansion though opening new shops with franchisees from outside the company. However, instead, he floated the company on the country’s stock exchange. He used some of the capital raised to expand the business. However, he also sold shares to help him throw the ‘party of a lifetime’ and to purchase expensive goods and gifts for his family. Hein became Chairman and Chief Executive Officer (CEO) of the newly quoted company, but over the next thirteen years his relationship with his board and shareholders became increasingly difficult. Gradually new financial controls and reporting systems were put in place. Most of the established managers left as controls became more centralised and formal. The company’s performance was solid but unspectacular. Hein complained that ‘business was not fun any more’. The company was legally required to publish directors’ salaries in its annual report and the generous salary package enjoyed by the Chairman and CEO increasingly became an issue and it dominated the 2002 Annual General Meeting (AGM). Hein was embarrassed by its publication and the discussion it led to in the national media. He felt that it was an infringement of his privacy andcivil liberties.Phase 3 (2003–2008)In 2003 Hein found the substantial private equity investment necessary to take Rock Bottom private again. He also used all of his personal fortune to help re-acquire the company from the shareholders. He celebrated ‘freeing Rock Bottom from its shackles’ by throwing a large celebration party. Celebrities were flown in from all over the world to attend. However, most of the new generation of store managers found Hein’s style. to be too loose and unfocused. He became rude and angry about their lack of entrepreneurial spirit. Furthermore, changes in products and how they were purchased meant that fewer people bought conventional audio products from specialist shops. The reliability of these products now meant that they were replaced relatively infrequently. Hein, belatedly, started to consider selling via an Internet site. Turnover and profitability plummeted. In 2007 Hein again considered franchising the company,but he realised that this was unlikely to be successful. In early 2008 the company ceased trading and Hein himself,now increasingly vilified and attacked by the press, filed for personal bankruptcy.Required:(a) Analyse the reasons for Rock Bottom’s success or failure in each of the three phases identified in thescenario. Evaluate how Rick Hein’s leadership style. contributed to the success or failure of each phase.(18 marks)(b) Rick Hein considered franchising the Rock Bottom brand at two points in its history – 1988 and 2007.Explain the key factors that would have made franchising Rock Bottom feasible in 1988, but would havemade it ‘unlikely to be successful’ in 2007. (7 marks)
考题
If a company wants to see its products_____, it should do some world market report first.
A、internationalizeB、internationallyC、internationalD、internationalization
考题
Which term means “the profit that a company has obtained from selling its products or services in a particular period of time, in relation to its sales for the period”?
A、Annual incomeB、operation profitC、return on salesD、net profit
考题
As a man with plenty of guts, he is the person who is expected to bring success to this company which is on the verge of bankruptcy.
A、the great white hopeB、the great red hopeC、the great green hopeD、the great black hope
考题
Directions:The following isan introduction of a company.After reading it, you should give brief answers to the five questions ( No.56 to No. 60) that follow. The answers（in not more than 3 words）should be written after the corresponding numbers on the Answer Sheet.Ditis Hong Kong Ltd is a manufacturer of security products and peripheral equipment, knowledge-based company. All of our managers has high technical education and fluently spoken English, Chinese, Japanese and Russian. We major in professional digital security products. Our products with advanced technology, stable performance, cost-effective, stylish design, excellent quality, has won the trust of customers and a wide range of popular.Being a professional manufacturer of security products, we value Innovation, Dedication and Superiority, and satisfy our customers by adding new designs and features to our products according to customers needs.Our service knowledge is second to none. We really appreciate your business and hope to deal with you again.We sincerely welcome customers to visit and give us your advice.41．What kind of company is Ditis Hong Kong Ltd?Ditis Hong Kong Ltd is a manufacturer of ________ and peripheral equipment, knowledge-based company.42. What’s the educational background of the managers in Ditis Hong Kong Ltd?All of our managers has ________________.43. What’s the major products of the company?They major in ______________ products.44. How can the company satisfy its customers?It satisfies its customers by adding ____________to our products according to customers needs45. How about the service and knowledge of the company?Our service knowledge is ___________.
考题
Good teamwork has played an important role in the company's success.A:place
B:game
C:effect
D:part
考题
According to analysts, Noruptech's success is due to the company’s reputation for
___delivering high-quality products on time.A. reliably
B. reliant
C. to rely
D. reliable
考题
Atlantis Software Company ___ its clients complete satisfaction with all its products.A. requests
B. admits
C. agree
D. guarantees
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共用题干
Lifetime Employment in Japanese CompaniesIn most large Japanese companies,there is a policy of lifetime employment.What this means is that when people leave school or university to join an enterprise,they can expect to remain with that organization until they retire.In effect,the employee gets job security for life,and can only be fired for serious mistakes in work.Even in times of business recession,he or she is free from the fear of being laid off.One result of this practice is that the Japanese worker identifies closely with his company and feels strong loyalty to it.By working hard for the company,he believes he is safeguarding his own future.It is not surprising that devotion to one's company is considered a great virtue in Japan.A man is often prepared to put his firm's interests before those of his immediate family.The job security guaranteed by this system influences the way employees approach their work.They tend to think in terms of what they can achieve throughout their career.This is because they are not judged on how they are performing during a short period of time.They can afford to take a longer perspective than their western counterparts.This marriage between the employee and the company-the consequence of lifetime employment-may explain why Japanese workers seem positively to love the products their company is producing and why they are willing to stay on after work,for little overtime pay,to participate in earnest discussions about the quality control of their products.The Japanese worker is fond of his company's product because of the close link between him and his company.A:Right B:Wrong C:Not mentioned
考题
共用题干
Lifetime Employment in Japanese CompaniesIn most large Japanese companies,there is a policy of lifetime employment.What this means is that when people leave school or university to join an enterprise,they can expect to remain with that organization until they retire.In effect,the employee gets job security for life,and can only be fired for serious mistakes in work.Even in times of business recession,he or she is free from the fear of being laid off.One result of this practice is that the Japanese worker identifies closely with his company and feels strong loyalty to it.By working hard for the company,he believes he is safeguarding his own future.It is not surprising that devotion to one's company is considered a great virtue in Japan.A man is often prepared to put his firm's interests before those of his immediate family.The job security guaranteed by this system influences the way employees approach their work.They tend to think in terms of what they can achieve throughout their career.This is because they are not judged on how they are performing during a short period of time.They can afford to take a longer perspective than their western counterparts.This marriage between the employee and the company-the consequence of lifetime employment-may explain why Japanese workers seem positively to love the products their company is producing and why they are willing to stay on after work,for little overtime pay,to participate in earnest discussions about the quality control of their products.Family's and company's interests are equally important in Japanese company.A:Right B:Wrong C:Not mentioned
考题
共用题干
Lifetime Employment in Japanese CompaniesIn most large Japanese companies,there is a policy of lifetime employment.What this means is that when people leave school or university to join an enterprise,they can expect to remain with that organization until they retire.In effect,the employee gets job security for life,and can only be fired for serious mistakes in work.Even in times of business recession,he or she is free from the fear of being laid off.One result of this practice is that the Japanese worker identifies closely with his company and feels strong loyalty to it.By working hard for the company,he believes he is safeguarding his own future.It is not surprising that devotion to one's company is considered a great virtue in Japan.A man is often prepared to put his firm's interests before those of his immediate family.The job security guaranteed by this system influences the way employees approach their work.They tend to think in terms of what they can achieve throughout their career.This is because they are not judged on how they are performing during a short period of time.They can afford to take a longer perspective than their western counterparts.This marriage between the employee and the company-the consequence of lifetime employment-may explain why Japanese workers seem positively to love the products their company is producing and why they are willing to stay on after work,for little overtime pay,to participate in earnest discussions about the quality control of their products.All the Japanese company's products have high quality and lower price.A:Right B:Wrong C:Not mentioned
考题
资料：“Our cars are for people who want something different.”
This has been the slogan for over 50 years of Suprema Cars, a manufacturer of an English sports car. The car is mostly handmade in the company's factory in northern England. Suprema Car produces approximately 500 cars a year. About 5 years ago, the company began to lose sales and market share, and in the last two years, it has made a loss.
Recently, there have been problems with the labor force. The factory workers have demand higher wages and better working conditions. They are also unhappy because the management is insisting that they increase production, but the workers think this will have a bad effect on the quality of the cars.
The company still has many loyal customers. People buy Suprema sports cars because they are handmade and have an image of quality and craftsmanship.
Which of the following is NOT a problem that Suprema Cars is facing?
A.Customers’ distrust of products.
B.A financial loss.
C.Unhappy workers.
D.Loss on sales and market share.
考题
资料：“Our cars are for people who want something different.”
This has been the slogan for over 50 years of Suprema Cars, a manufacturer of an English sports car. The car is mostly handmade in the company's factory in northern England. Suprema Car produces approximately 500 cars a year. About 5 years ago, the company began to lose sales and market share, and in the last two years, it has made a loss.
Recently, there have been problems with the labor force. The factory workers have demand higher wages and better working conditions. They are also unhappy because the management is insisting that they increase production, but the workers think this will have a bad effect on the quality of the cars.
The company still has many loyal customers. People buy Suprema sports cars because they are handmade and have an image of quality and craftsmanship.
Why do some customers still stick to Suprema Cars?
A.Because its products are handmade and qualified.
B.Because its name represents luxury.
C.Because the company is famous.
D.Because its products are cheap.
考题
The company has purchased one hundred and fifty new servers. The server administrator needs to build and deploy them as quickly as possible. Which of the following is the FASTEST method of building and deploying each server？（）A、Build each server from the OS manufacturer’s build disk.B、Use an imaging system to manually deploy the build to the servers.C、Build each server with the manufacturer’s build disk.D、Give the company build disk to the server manufacturer.
考题
A customer currently buys HP ProLiant servers and EMC storage. The customer has encountered various problems getting certain servers to work with their storage. Which of the following arguments can the Sales Specialist present to best position IBM？ （）A、IBM’s ServerProven program is a reference that assures a customer of compatibility with specific third-party products.B、IBM sells other vendors’ products and will test compatibility with the customer’s products. C、B IBM’s storage division regularly tests their products with other vendors’ server products. D、IBM’s server division regularly tests their products with other vendors’ storage products.
考题
A customer has a large UNIX environment and has engaged a pSeries technical specialist to work on a solution with them. Which of the following statements would best establish UNIX credibility with a knowledgeable customer？（）A、The technical support specialist has completed a UNIX course at college.B、The technical specialist has supported several similar projects and has earned an IBM AIX certification.C、The technical support specialist’s company sells $3M of UNIX computer systems every year.D、The technical support specialist has sold and installed at least a dozen Apple and iSeries systems with POWER processors.
考题
单选题A customer has a large UNIX environment and has engaged a pSeries technical specialist to work on a solution with them. Which of the following statements would best establish UNIX credibility with a knowledgeable customer？（）A
The technical support specialist has completed a UNIX course at college.B
The technical specialist has supported several similar projects and has earned an IBM AIX certification.C
The technical support specialist’s company sells $3M of UNIX computer systems every year.D
The technical support specialist has sold and installed at least a dozen Apple and iSeries systems with POWER processors.
考题
问答题The high performance innovators depended on different models and approaches to outperform their competitors. In many cases, the company’s success is attributed to a distinctive skill. Google, for example, is known for generating new ideas with blistering speed. Toyota excels at developing its products and processes far more efficiency and effectively than most other companies. And Apple is noted for its well-honed capabilities in project selection and customer understanding. The most successful companies exhibited strong capabilities across four key areas: ideation, project selection, product development, and commercialization.
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单选题From the passage we can learn that MDC Company always _____.A
keeps its promiseB
provides the same productsC
sells its products at a low priceD
delivers its products without delay
考题
问答题Passage 9Questions 1—7 ● Read these sentences and the advertisements for business agents. ● Which agent does each sentence(1—7)describe? ● For each sentence mark one letter(A, B, C or D). Example You can buy equipment for research from this company. Answer: A 1. The company has exploration projects in Canada and Brazil. 2. You can increase the value of your money with the help of this company. 3. Its products are used in the construction of communication systems. 4. The company’s asset is increasing rapidly. 5. It is a very big company both in capital and people. 6. This is a group combined by many companies all over the world. 7. You want to make medicines for the treatment of animal diseases and go to it for help. A. Beckman Instruments Beckman’s business is focused on the chemistry of life. The company designs, manufactures, sells and services biological laboratory systems. A market leader, Beckman helps advance scientific discovery and enhance medical care in every corner of the globe. B. Bekaert Bekaert, manufacturer of steel wire and steel cord, is a multinational company, with the most extensive range of wire and related products. In 1993, consolidated and associated companies combined, achieved a turnover of BEF 79. 8 billion and employed 16, 538 people. 1993 consolidated profit was BEF 2, 232 million. C. Canarc Resource Corp. Canarc Resource Corp. is a growth—oriented, international gold exploration company with more than 20 gold exploration projects in North, Central and South America. Our corporate goal is maximize shareholder returns through extraordinary asset growth by finding and developing world class gold deposits. D. CCS Holding CCS Holding is a global financial services group dedicated to providing its clients with greater value. Building on the strengths of our group companies, we have been able to combine our worldwide capabilities to offer our clients a single source for all their major financial transactions. The greater value we provide is manifested in our collective breadth of experience, range of products and services, asset base and global scope.
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单选题In the last few years, our company _____ a great deal of attention to building up company culture.A
paysB
would payC
is payingD
has been paying
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