SOLUTIONS MANUAL
** All Chapters included
** Answers to Questions
** Solutions to Exercises & Problems
** Cases Solutions
** Excel Solutions
** Data and Analytics in Accounting Solutions
,Table of Contents are given below
1. Cost Accounting Has Purpose
2. Refresher on Cost Terms
3. Cost Behavior and Cost Estimation
4. Cost-Volume-Profit Analysis
5. Relevant Costs for the Decision-Maker
6. Mastering the Master Budget
7. Capital Budgeting Choices and Decisions
8. Job Costing Visualized
9. Activity-Based Costing (ABC)
10. Variance Analysis and Standard Costing
11. Process Costing
12. Absorption versus Variable Costing
13. Data Analytics
14. Support Department Costing
15. Joint Costs and Decision-Making
16. The Art and Science of Pricing to Optimize Revenue
17. Management Control Systems and Transfer Pricing
18. Business Strategy, Performance Measurement, and the Balanced Scorecard
, 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
, 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
** All Chapters included
** Answers to Questions
** Solutions to Exercises & Problems
** Cases Solutions
** Excel Solutions
** Data and Analytics in Accounting Solutions
,Table of Contents are given below
1. Cost Accounting Has Purpose
2. Refresher on Cost Terms
3. Cost Behavior and Cost Estimation
4. Cost-Volume-Profit Analysis
5. Relevant Costs for the Decision-Maker
6. Mastering the Master Budget
7. Capital Budgeting Choices and Decisions
8. Job Costing Visualized
9. Activity-Based Costing (ABC)
10. Variance Analysis and Standard Costing
11. Process Costing
12. Absorption versus Variable Costing
13. Data Analytics
14. Support Department Costing
15. Joint Costs and Decision-Making
16. The Art and Science of Pricing to Optimize Revenue
17. Management Control Systems and Transfer Pricing
18. Business Strategy, Performance Measurement, and the Balanced Scorecard
, 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
, 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
