Solution manual for Managerial Accounting 8th
m m m m m
edition
m
by john wild, ken shaw, barbara chiappetta
m m m m m m
Verified Chapter's 1 - 13 | Complete
m m m m m m m
,TABLE OF CONTENTS m m m
Chapter 1: Managerial Accounting Concepts and Principles
m m m m m m
Chapter 2: Job Order Costing and Analysis
m m m m m m
Chapter 3: Process Costing and Analysis
m m m m m
Chapter 4: Activity-Based Costing and Analysis
m m m m m
Chapter 5: Cost Behavior and Cost-Volume-Profit Analysis
m m m m m m
Chapter 6: Variable Costing and Analysis
m m m m m
Chapter 7: Master Budgets and Planning
m m m m m
Chapter 8: Flexible Budgets and Standard Costs
m m m m m m
Chapter 9: Performance Measurement and Responsibility Accounting
m m m m m m
Chapter 10: Relevant Costs for Managerial Decisions
m m m m m m
Chapter 11: Capital Budgeting and Investment Analysis
m m m m m m
Chapter 12: Reporting Cash Flows
m m m m
Chapter 13: Analysis of Financial Statements
m m m m m
,Chapter1 m
Managerial Accounting Concepts m m
and Principles
m m
QUICK STUDIES m
Quick Study 1-1 (5 minutes)
m m m m
1. Its primary users are company managers ..............................
m m m m m m Managerial
2. Its information is often available onlyafter an audit is complete .
m m m m m m m m m m m Financial
3. Its primary focus is on the organization as a whole..............
m m m m m m m m m m Financial
4. Its principles and practices are relatively flexible .................
m m m m m m m Managerial
5. It focuses mainly on past results.............................................
m m m m m Financial
Quick Study 1-2 (10 minutes)
m m m m
1. Indirect cost m
2. Direct cost m
3. Indirect cost m
4. Indirect cost m
5. Direct cost m
Quick Study 1-3 (10 minutes)
m m m m
1. Direct materials
m
2. Factory overhead m
3. Direct labor m
4. Factory overhead m
5. Factory overhead m
6. Direct materials
m
, Quick Study 1-4 (10 minutes)
m m m m
1. Product cost m
2. Period cost m
3. Product cost m
4. Period cost m
5. Product cost m
6. Period cost m
7. Period cost m
8. Product cost m
Quick Study 1-5 (10 minutes)
m m m m
1. Prime cost m
2. Conversion cost (Glue is an indirect material)m m m m m m
3. Both
4. Conversion cost m
5. Conversion cost m
6. Prime cost m
Quick Study 1-6 (10 minutes)
m m m m
Ending work in process inventory is computed as:
m m m m m m m
Work in process inventory, beginning ...............
m m m m m $ 26,000m
Direct materials used.......................................
m m m 74,000
Direct labor used..............................................
m m m 55,000
Factory overhead .............................................
m m m m 95,000
Total manufacturing costs ..............................
m m m m 224,000
Total cost of work in process..............................
m m m m m m 250,000
Less cost of goods manufactured ......................
m m m m m m220,000
Work in process inventory, ending.....................
m m m m m $ 30,000 m
m m m m m
edition
m
by john wild, ken shaw, barbara chiappetta
m m m m m m
Verified Chapter's 1 - 13 | Complete
m m m m m m m
,TABLE OF CONTENTS m m m
Chapter 1: Managerial Accounting Concepts and Principles
m m m m m m
Chapter 2: Job Order Costing and Analysis
m m m m m m
Chapter 3: Process Costing and Analysis
m m m m m
Chapter 4: Activity-Based Costing and Analysis
m m m m m
Chapter 5: Cost Behavior and Cost-Volume-Profit Analysis
m m m m m m
Chapter 6: Variable Costing and Analysis
m m m m m
Chapter 7: Master Budgets and Planning
m m m m m
Chapter 8: Flexible Budgets and Standard Costs
m m m m m m
Chapter 9: Performance Measurement and Responsibility Accounting
m m m m m m
Chapter 10: Relevant Costs for Managerial Decisions
m m m m m m
Chapter 11: Capital Budgeting and Investment Analysis
m m m m m m
Chapter 12: Reporting Cash Flows
m m m m
Chapter 13: Analysis of Financial Statements
m m m m m
,Chapter1 m
Managerial Accounting Concepts m m
and Principles
m m
QUICK STUDIES m
Quick Study 1-1 (5 minutes)
m m m m
1. Its primary users are company managers ..............................
m m m m m m Managerial
2. Its information is often available onlyafter an audit is complete .
m m m m m m m m m m m Financial
3. Its primary focus is on the organization as a whole..............
m m m m m m m m m m Financial
4. Its principles and practices are relatively flexible .................
m m m m m m m Managerial
5. It focuses mainly on past results.............................................
m m m m m Financial
Quick Study 1-2 (10 minutes)
m m m m
1. Indirect cost m
2. Direct cost m
3. Indirect cost m
4. Indirect cost m
5. Direct cost m
Quick Study 1-3 (10 minutes)
m m m m
1. Direct materials
m
2. Factory overhead m
3. Direct labor m
4. Factory overhead m
5. Factory overhead m
6. Direct materials
m
, Quick Study 1-4 (10 minutes)
m m m m
1. Product cost m
2. Period cost m
3. Product cost m
4. Period cost m
5. Product cost m
6. Period cost m
7. Period cost m
8. Product cost m
Quick Study 1-5 (10 minutes)
m m m m
1. Prime cost m
2. Conversion cost (Glue is an indirect material)m m m m m m
3. Both
4. Conversion cost m
5. Conversion cost m
6. Prime cost m
Quick Study 1-6 (10 minutes)
m m m m
Ending work in process inventory is computed as:
m m m m m m m
Work in process inventory, beginning ...............
m m m m m $ 26,000m
Direct materials used.......................................
m m m 74,000
Direct labor used..............................................
m m m 55,000
Factory overhead .............................................
m m m m 95,000
Total manufacturing costs ..............................
m m m m 224,000
Total cost of work in process..............................
m m m m m m 250,000
Less cost of goods manufactured ......................
m m m m m m220,000
Work in process inventory, ending.....................
m m m m m $ 30,000 m
