조업도 변동이 원가행태에 미치는 영향

Abstract

The Effects of the Change of Activity Levels on Cost Behavior

by Suh Dae-Suck Advisor: Prof. Kim Seung-Young, Ph.D Department of Accounting Graduate School, Chosun University

Traditional cost behaviour models in the accounting literature classify fixed cost and variable costs with respect to change in cost driver. Conventional cost accounting assumes that the relation between cost and cost drivers is symmetric for cost driver increase and decrease in equivalent amount. This assumption is key factor of various managerial decision making, such as cost-volume analysis, master budgeting, responsibility accounting, standard costing, and cost management. But Anderson, Banker, and Jajakiraman (2203) suggests that selling, general and administrative costs respond differently to upper or downward changes in cost driver, a property they refer to as sticky cost(Calleja et al., 2005). The Factors that influence cost stickiness are the size of committed resouces, managerial empire building(Chen et al., 2012), magerial optimism of future salses fluctuation(Balakrishnan and Gruca, 2008), strained capacity or excess capacity(Balakrishnan et al., 2004), and core competency (Balakrishnan et al., 2008). Many researcher suggest that the managers' sales forecasts have an major impact on costs asymmetry. In this study, I investigate whether manufacturing costs(classified as material costs, labour costs, the other manufacturing costs, and discretionary costs) and period expenses(cost of goods sold, personnel expenses, SG&A costs, discretionary expenses for SG&A activity) are sticky. I analyze the 4,477 firm-year data for Korean firms from 1885 to 2003 by ANCOVA models suggested by Anderson et al.,(2003) and ANOVA model by Banker et al.,(2010). Findings in this study are as follow. Material costs are symmetrical cost behaviour by single-period model, multiple-period model, and integated model. These results are the same as prior researches. Labour costs increase on average 0.480% per 1% increase in sales but decrease 0.505% per 1% decrease in sales in single-period model, indicating a reversal of stickiness. The other manufacturing costs increase on average 0.663% per 1% increase in sales but decrease 0.557% per 1% decrease in sales in single-period model, showing such sticky cost behaviour as the results of prior researches. The asymmetrical cost behaviour of the other manufacturing costs are same in multiple-period, integrated, and ANOVA model. The discretionary costs for manufacturing activity has a symmetrcial cost behaviour in single-period model. The period expenses(cost of goods sold, personnel expenses, SG&A costs, discretionary expenses for SG&A activity) are all asymmetrical behaviour of cost. But personnel expenses and discretionary expenses for SG&A activity are downward elasticity of cost behaviour. These results show that managers of Koeran firms respond without delay and downward elastically according to the decrease of sales revenue. Especially, the results of downward elasticity of behaviour of labour costs and personnel expenses suggests the personnel management systems of Korean firms are very different from those of other countries of prior studies on cost asymmetry.