Solutions Manual for Cost
Accounting With Integrated Data
Analytics 2nd Edition By Karen
Congo Farmer, Amy Fredin (All
Chapters 1-18, 100% Original
Verified, A+ Grade)
This is The Only Original and
Complete Solutions Manual for
2nd Edition, All Other Files in the
Market are Fake/Old/Wrong
Edition.
All Supplement Files Download
Link is Added At The End of PDF.
, Chapter 1
Cost Accounting Has Purpose
Note: the end of chapter brief exercises, exercises, and problems are coded K (knowledge), C
(comprehension), AP (application), AN (analysis), S (synthesize), and E (evaluation) according
to the original Blooms Taxonomy published in 1956.
Assignment Classification Table (By Learning Objective)
Brief
Learning Objectives Questions Exercises Exercises Problems
1. Explore the elements that 1, 2, 3, 4 1, 2, 3, 4, 1, 2, 3, 12 1, 2, 3, 4
support a company’s 5, 6, 13
purpose, as well as your
own.
2. Connect the purpose of 5, 6, 7, 13, 7, 8, 9 4, 5, 6, 11 5, 6
cost accounting with the 14
role of accountants in
organizations.
3. Outline the frameworks, 8, 9, 10, 10, 11, 12 7, 8, 9, 10 7, 8, 9
including ethics, that guide 11, 12
the profession.
1-1
© 2026 John Wiley & Sons, Inc. or the author, All rights reserved. Farmer, Cost Accounting, 2e, Cost Accounting Has Purpose (For Instructor Use Only)
,Assignment Characteristics Table
Level of Time
Item Description Difficulty (minutes)
E1.1 Identify the mission and vision of each of the Big Four Moderate 15–20
firms and their underlying values.
E1.2 Evaluate a company’s SWOT analysis. Moderate 10–15
E1.3 Explain how a balanced scorecard reveals a company’s Moderate 10–15
strategy.
E1.4 Identify cost accounting skill sets valued by the Big Four. Moderate 10–15
E1.5 Use the decision-making framework to make a personal Moderate 10–15
decision.
E1.6 Use the decision-making framework to make a business Moderate 10–15
decision.
E1.7 Identify IMA opportunities and certification requirements. Simple 10–15
E1.8 Get to know the continuing education requirements for Simple 5–10
the IMA’s flagship certification.
E1.9 Describe the IMA’s Statement of Ethical Professional Moderate 10–15
Practice.
E1.10 Identify the AICPA’s mission and activities. Moderate 15–20
E1.11 Interpret supply chain visualization. Simple 5–10
E1.12 Address conflicts between stated mission, values, and Moderate 10–15
outward behavior.
P1.1 Describe your own personal purpose. Simple 5–10
P1.2 Identify your goals. Simple 5–10
P1.3 Identify strategies to achieve your goals. Simple 5–10
P1.4 Conduct your own personal SWOT analysis. Moderate 10–15
P1.5 Identify data analytics approaches to help solve a Moderate 10–15
business question.
P1.6 Explain the steps in the value chain. Moderate 10–15
P1.7 Evaluate IMA’s Statements on Management Accounting. Moderate 5–10
P1.8 Identify the CPE requirements for CPAs in your state. Moderate 10–15
1-2
© 2026 John Wiley & Sons, Inc. or the author, All rights reserved. Farmer, Cost Accounting, 2e, Cost Accounting Has Purpose (For Instructor Use Only)
, P1.9 Describe how the NASBA supports the State Boards of Moderate 10-15
Accountancy.
Case Sort out the issues in an ethical dilemma using IMA’s Moderate 15–20
Statement of Ethical Professional Practice alongside the
decision-making framework.
Answers to Questions
1. A vision reflects what you strive to be (or what an organization strives to be) or what you strive to
achieve by some future date.
In contrast, a mission (i.e., a purpose) is the reason you exist (or an organization exists). Your
mission, or purpose, is what drives you.
A strategy reflects the chosen method(s) and technique(s) to get you to the end goal (the vision).
You can think of a vision as being your destination, a mission (i.e., purpose) as your vehicle (what
drives you!), and a strategy is the road you take to get there. Being aware of these key pieces as
well as how they work together can help you stay motivated and adjust course as needed. By
keeping your end goal in mind, you will be more motivated and driven as you travel the road there.
LO: 1, Bloom: C, Difficulty: Simple, Time: 3-5, AACSB: Knowledge, Communication, Reflective Thinking, AICPA BC: N/A, AICPA AC: Reporting, AICPA PC:
Communication, IMA: N/A
2. A SWOT analysis is a survey of a company’s internal Strengths and Weaknesses along with its
external Opportunities and Threats. Companies use this type of analysis to evaluate their position
in the market so they can work to capitalize on their strengths and address their weaknesses in an
effort to take advantage of opportunities in the market while also addressing the threats.
In the process of conducting a SWOT analysis, managers often recognize Porter’s Five Forces
among the company’s strengths, weaknesses, opportunities, and threats. The five forces are
customer power, supplier power, threat of substitute products, threat of new entrants, and industry
rivalry.
Through a formal SWOT analysis or a formal evaluation of Porter’s Five Forces, a company will
have a very thorough understanding of where it is positioned in the market and in the industry, which
can help decision-makers determine the best course forward in order to live the company’s mission
and reach its vision.
LO: 1, Bloom: C, Difficulty: Simple, Time: 3-5, AACSB: Knowledge, Communication, AICPA BC: Strategic Perspective, AICPA AC: Reporting, AICPA PC:
Communication, IMA: Strategy, Planning, & Performance: Enterprise Risk Management
1-3
© 2026 John Wiley & Sons, Inc. or the author, All rights reserved. Farmer, Cost Accounting, 2e, Cost Accounting Has Purpose (For Instructor Use Only)
Accounting With Integrated Data
Analytics 2nd Edition By Karen
Congo Farmer, Amy Fredin (All
Chapters 1-18, 100% Original
Verified, A+ Grade)
This is The Only Original and
Complete Solutions Manual for
2nd Edition, All Other Files in the
Market are Fake/Old/Wrong
Edition.
All Supplement Files Download
Link is Added At The End of PDF.
, Chapter 1
Cost Accounting Has Purpose
Note: the end of chapter brief exercises, exercises, and problems are coded K (knowledge), C
(comprehension), AP (application), AN (analysis), S (synthesize), and E (evaluation) according
to the original Blooms Taxonomy published in 1956.
Assignment Classification Table (By Learning Objective)
Brief
Learning Objectives Questions Exercises Exercises Problems
1. Explore the elements that 1, 2, 3, 4 1, 2, 3, 4, 1, 2, 3, 12 1, 2, 3, 4
support a company’s 5, 6, 13
purpose, as well as your
own.
2. Connect the purpose of 5, 6, 7, 13, 7, 8, 9 4, 5, 6, 11 5, 6
cost accounting with the 14
role of accountants in
organizations.
3. Outline the frameworks, 8, 9, 10, 10, 11, 12 7, 8, 9, 10 7, 8, 9
including ethics, that guide 11, 12
the profession.
1-1
© 2026 John Wiley & Sons, Inc. or the author, All rights reserved. Farmer, Cost Accounting, 2e, Cost Accounting Has Purpose (For Instructor Use Only)
,Assignment Characteristics Table
Level of Time
Item Description Difficulty (minutes)
E1.1 Identify the mission and vision of each of the Big Four Moderate 15–20
firms and their underlying values.
E1.2 Evaluate a company’s SWOT analysis. Moderate 10–15
E1.3 Explain how a balanced scorecard reveals a company’s Moderate 10–15
strategy.
E1.4 Identify cost accounting skill sets valued by the Big Four. Moderate 10–15
E1.5 Use the decision-making framework to make a personal Moderate 10–15
decision.
E1.6 Use the decision-making framework to make a business Moderate 10–15
decision.
E1.7 Identify IMA opportunities and certification requirements. Simple 10–15
E1.8 Get to know the continuing education requirements for Simple 5–10
the IMA’s flagship certification.
E1.9 Describe the IMA’s Statement of Ethical Professional Moderate 10–15
Practice.
E1.10 Identify the AICPA’s mission and activities. Moderate 15–20
E1.11 Interpret supply chain visualization. Simple 5–10
E1.12 Address conflicts between stated mission, values, and Moderate 10–15
outward behavior.
P1.1 Describe your own personal purpose. Simple 5–10
P1.2 Identify your goals. Simple 5–10
P1.3 Identify strategies to achieve your goals. Simple 5–10
P1.4 Conduct your own personal SWOT analysis. Moderate 10–15
P1.5 Identify data analytics approaches to help solve a Moderate 10–15
business question.
P1.6 Explain the steps in the value chain. Moderate 10–15
P1.7 Evaluate IMA’s Statements on Management Accounting. Moderate 5–10
P1.8 Identify the CPE requirements for CPAs in your state. Moderate 10–15
1-2
© 2026 John Wiley & Sons, Inc. or the author, All rights reserved. Farmer, Cost Accounting, 2e, Cost Accounting Has Purpose (For Instructor Use Only)
, P1.9 Describe how the NASBA supports the State Boards of Moderate 10-15
Accountancy.
Case Sort out the issues in an ethical dilemma using IMA’s Moderate 15–20
Statement of Ethical Professional Practice alongside the
decision-making framework.
Answers to Questions
1. A vision reflects what you strive to be (or what an organization strives to be) or what you strive to
achieve by some future date.
In contrast, a mission (i.e., a purpose) is the reason you exist (or an organization exists). Your
mission, or purpose, is what drives you.
A strategy reflects the chosen method(s) and technique(s) to get you to the end goal (the vision).
You can think of a vision as being your destination, a mission (i.e., purpose) as your vehicle (what
drives you!), and a strategy is the road you take to get there. Being aware of these key pieces as
well as how they work together can help you stay motivated and adjust course as needed. By
keeping your end goal in mind, you will be more motivated and driven as you travel the road there.
LO: 1, Bloom: C, Difficulty: Simple, Time: 3-5, AACSB: Knowledge, Communication, Reflective Thinking, AICPA BC: N/A, AICPA AC: Reporting, AICPA PC:
Communication, IMA: N/A
2. A SWOT analysis is a survey of a company’s internal Strengths and Weaknesses along with its
external Opportunities and Threats. Companies use this type of analysis to evaluate their position
in the market so they can work to capitalize on their strengths and address their weaknesses in an
effort to take advantage of opportunities in the market while also addressing the threats.
In the process of conducting a SWOT analysis, managers often recognize Porter’s Five Forces
among the company’s strengths, weaknesses, opportunities, and threats. The five forces are
customer power, supplier power, threat of substitute products, threat of new entrants, and industry
rivalry.
Through a formal SWOT analysis or a formal evaluation of Porter’s Five Forces, a company will
have a very thorough understanding of where it is positioned in the market and in the industry, which
can help decision-makers determine the best course forward in order to live the company’s mission
and reach its vision.
LO: 1, Bloom: C, Difficulty: Simple, Time: 3-5, AACSB: Knowledge, Communication, AICPA BC: Strategic Perspective, AICPA AC: Reporting, AICPA PC:
Communication, IMA: Strategy, Planning, & Performance: Enterprise Risk Management
1-3
© 2026 John Wiley & Sons, Inc. or the author, All rights reserved. Farmer, Cost Accounting, 2e, Cost Accounting Has Purpose (For Instructor Use Only)
