8th edition
by john wild, ken shaw, barbara chiappetta
Verified Chapter's 1 - 13 | Complete
,TABLE OF CONTENTS
Chapter 1: Managerial Accounting Concepts and Principles
Chapter 2: Job Order Costing and Analysis
Chapter 3: Process Costing and Analysis
Chapter 4: Activity-Based Costing and Analysis
Chapter 5: Cost Behavior and Cost-Volume-Profit Analysis
Chapter 6: Variable Costing and Analysis
Chapter 7: Master Budgets and Planning
Chapter 8: Flexible Budgets and Standard Costs
Chapter 9: Performance Measurement and Responsibility Accounting
Chapter 10: Relevant Costs for Managerial Decisions
Chapter 11: Capital Budgeting and Investment Analysis
Chapter 12: Reporting Cash Flows
Chapter 13: Analysis of Financial Statements
,Chapter 1
Managerial Accounting Concepts
and Principles
QUICK STUDIES
Quick Study 1-1 (5 minutes)
1. Its primary users are company managers .............................. Managerial
2. Its information is often available only after an audit is complete . Financial
3. Its primary focus is on the organization as a whole .............. Financial
4. Its principles and practices are relatively flexible ................. Managerial
5. It focuses mainly on past results............................................. Financial
Quick Study 1-2 (10 minutes)
1. Indirect cost
2. Direct cost
3. Indirect cost
4. Indirect cost
5. Direct cost
Quick Study 1-3 (10 minutes)
1. Direct materials
2. Factory overhead
3. Direct labor
4. Factory overhead
5. Factory overhead
6. Direct materials
, Quick Study 1-4 (10 minutes)
j j j j
1. Product cost j
2. Period cost j
3. Product cost j
4. Period cost j
5. Product cost j
6. Period cost j
7. Period cost j
8. Product cost j
Quick Study 1-5 (10 minutes)
j j j j
1. Prime cost j
2. Conversion cost (Glue is an indirect material) j j j j j j
3. Both
4. Conversion cost j
5. Conversion cost j
6. Prime cost j
Quick Study 1-6 (10 minutes)
j j j j
Ending work in process inventory is computed as:
j j j j j j j
Work in process inventory, beginning ...............
j j j j j $ 26,000j
Direct materials used.......................................
j j j 74,000
Direct labor used..............................................
j j j 55,000
Factory overhead .............................................
j j jj 95,000
Total manufacturing costs ..............................
j j j 224,000
j
Total cost of work in process..............................
j j j j j j 250,000
Less cost of goods manufactured ......................
j j j j j 220,000
j
Work in process inventory, ending.....................
j j j j j $ 30,000 j