CMA历年真题2（英）
信息来源：金融范 2014-08-18 09:48 knroman
Question：
LCB, Inc. is preparing a bid to the Department of the Navy to produce engines for rescue boats. The company has manufactured these engines for the Navy for the past 3 years on an exclusive contract and has experienced the following costs:
| Cumulative |
Total Cumulative Costs |
| Units Produced |
Materials |
Labor |
| 10 |
$60,000 |
$120,000 |
| 20 |
120,000 |
192,000 |
| 40 |
240,000 |
307,200 |
At LCB, variable overhead is applied on the basis of $1.00 per direct labor dollar. Based on historical costs, LCB knows that the production of 40 engines will incur $100,000 of fixed overhead costs. The bid request is for an additional 40 units; all companies submitting bids are allowed to charge a maximum of 25% above full cost for each order.
LCB’s rate of learning on the 3-year engine contract is
A. 79.0%
B. 80.0%
C. 62.6%
D. 75.5%
Answer（B）：
Answer (A) is incorrect. The rate of learning should be determined by calculating the cumulative average unit labor cost for each doubling of production.
Answer (B) is correct. The learning curve reflects a percentage reduction in time to complete a task for each doubling of cumulative production. An analysis of the materials costs shows that these costs are strictly variable. However, the labor costs are not strictly variable because the cumulative amount at the end of the second year (for which production is double that of the first year) is not exactly double that for Year One. The same is true of the second- and third-year labor costs. The cumulative average unit labor cost for 10 units was $12,000 ($120,000 ÷ 10). The cumulative average unit labor cost for 20 units (representing a doubling of production) was $9,600 ($192,000 ÷ 20). The cumulative unit average for the next doubling was $7,680 ($307,200 ÷ 40). Since $9,600 is 80% of $12,000 and $7,680 is 80% of $9,600, an 80% rate of learning occurred.
Answer (C) is incorrect. The rate of learning should be determined by calculating the cumulative average unit labor cost for each doubling of production.
Answer (D) is incorrect. The rate of learning should be determined by calculating the cumulative average unit labor cost for each doubling of production.
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