Financial & Managerial Accounting
13th Edition
ISBN: 9781285866307
Author: Carl Warren, James M. Reeve, Jonathan Duchac
Publisher: Cengage Learning
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Question
Chapter 22, Problem 22.7BPE
To determine
Process:
The series of activities in order to perform a task is called a process. For example, for the customer service activity, number of employees is the input, and friendly service experience for the customer is the output.
To identify: Whether each of the following items is an input or output to the copying process of a copy shop.
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Students have asked these similar questions
what other reason managers in a food service operation might keep detailed record of meal "types" served as well as a total number of meals served?
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The following situations describe decision scenarios that could use managerial accounting information:
The manager of High Times Restaurant wishes to determine the price to charge for various lunch plates.
By evaluating the cost of leftover materials, the plant manager of a precision tool facility wishes to determine how effectively the plant is being run.
The division controller of West Coast Supplies needs to determine the cost of products left in inventory.
The manager of the Maintenance Department of a large manufacturing company wishes to plan next year’s anticipated expenditures. For each situation, discuss how managerial accounting information could be used.
b) What are the major differences between managerial accounting and financial accounting?
Chapter 22 Solutions
Financial & Managerial Accounting
Ch. 22 - What are the basic objectives in the use of...Ch. 22 - What is meant by reporting by the principle of...Ch. 22 - Prob. 3DQCh. 22 - The materials cost variance report for Nickols...Ch. 22 - Prob. 5DQCh. 22 - Prob. 6DQCh. 22 - Prob. 7DQCh. 22 - A. Describe the two variances between the actual...Ch. 22 - If variances are recorded in the accounts at the...Ch. 22 - Briefly explain why firms might use non financial...
Ch. 22 - Direct materials variances Lo-bed Company produces...Ch. 22 - Direct materials variances Dvorak Company produces...Ch. 22 - Prob. 22.2APECh. 22 - Prob. 22.2BPECh. 22 - Prob. 22.3APECh. 22 - Prob. 22.3BPECh. 22 - Prob. 22.4APECh. 22 - Prob. 22.4BPECh. 22 - Prob. 22.5APECh. 22 - Prob. 22.5BPECh. 22 - Prob. 22.6APECh. 22 - Income statement with variances Prepare a 2016...Ch. 22 - Prob. 22.7APECh. 22 - Prob. 22.7BPECh. 22 - Prob. 22.1EXCh. 22 - Standard product cost Wood You Lie To Me Furniture...Ch. 22 - Budget performance report Genie in a Bottle...Ch. 22 - Direct materials variances The following data...Ch. 22 - Direct materials variances Silicone Engine Inc....Ch. 22 - Standard direct materials cost per unit from...Ch. 22 - Standard product cost, direct materials variance...Ch. 22 - Direct labor variances The following data relate...Ch. 22 - Direct labor variances Greeson Clothes Company...Ch. 22 - Prob. 22.11EXCh. 22 - Direct labor standards for a service company One...Ch. 22 - Direct labor variances for a service company...Ch. 22 - Direct materials and direct labor variances At the...Ch. 22 - Flexible overhead budget Leno Manufacturing...Ch. 22 - Flexible overhead budget Wiki Wiki Company has...Ch. 22 - Factory overhead cost variances The following data...Ch. 22 - Factory overhead cost variances Blumen Textiles...Ch. 22 - Factory overhead variance corrections The data...Ch. 22 - Factory overhead cost variance report Tannin...Ch. 22 - Recording standards in accounts Cioffi...Ch. 22 - Recording standards in accounts "The Assembly...Ch. 22 - Prob. 22.23EXCh. 22 - Nonfinancial performance measures Diamond Inc. is...Ch. 22 - Prob. 22.25EXCh. 22 - Direct materials and direct labor variance...Ch. 22 - Flexible budgeting and variance analysis I Love My...Ch. 22 - Direct materials, direct labor, and factory...Ch. 22 - Factory overhead cost variance report Tiger...Ch. 22 - Standards for nonmanufacturing expenses Code Head...Ch. 22 - Direct materials and direct labor variance...Ch. 22 - Flexible budgeting and variance analysis I'm...Ch. 22 - Direct materials, direct labor, and factory...Ch. 22 - Factory overhead cost variance report Feeling...Ch. 22 - Prob. 22.5BPRCh. 22 - Prob. 1CPPCh. 22 - Ethics in Action Dash Riprock is a cost analyst...Ch. 22 - Prob. 22.2CPCh. 22 - Variance interpretation You have been asked to...Ch. 22 - Variance interpretation Vanadium Audio Inc. is a...
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- For each of the following activities, select the most appropriate cost driver. Each cost driver may be used only once. Activity Cost Driver 1. Pay vendors Answer 2. Evaluate vendors Answer 3. Inspect raw materials Answer 4. Plan for purchases of raw materials Answer 5. Packaging Answer 6. Supervision Answer 7. Employee training Answer 8. Clean tables Answer 9. Machine maintenance Answer 10. Move in-process product from one work station to the next Answerarrow_forwardAn example of a customer-value-added activity is: Select one: a. addition of an employee hotline for workplace complaints b. shortening the customers' billing cycle. c. final painting and polishing of the product d. maintenance of an adequate safety stock e. installation of a computerized human resource management modulearrow_forwardActivity-based costing for a service business Sterling Hotel uses activity-based costing to determine the cost of servicing customers. There are three activity pools: guest check-in, room cleaning, and meal service. The activity rates associated with each activity pool are 8 per guest check-in, 25 per room cleaning, and 4 per served meal (not including food). Ginny Campbell visited the hotel for a three-night stay. Campbell had three meals in the hotel during her visit. Determine the total activity-based cost for Campbells visit.arrow_forward
- Scoring: Your score will be based on the number of correct matches. There is no penalty for incorrect or missing matches. A cost driver is used to allocate support department expenses. Match each of the following cost drivers with the appropriate department. Clear All Number of work orders Number of employees Number of payroll checks Number of purchase requisitions President's Office Payroll Accounting Maintenance Human Resources Purchasingarrow_forwardCost drivers and functions. The representative cost drivers in the right column of this table are randomized so they do not match the list of functions in the left column. Representative Cost Driver A Number of imvoices sent B. Number of purchase orders C. Number of units manufactured D. Number of computers on the network E Number of employees hired F. Number of bills received from vendors G. Number of pallets moved Function 1. Accounts payable 2. Recruiting 3. Network Maintenance 4. Production 5. Purchasing 6. Warehousing 1. Billing 1. Match each function with its representative cost driver. 2 Give a second example of a cost driver for each function.arrow_forwardplease answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image) Becker Tabletops has two support departments (Janitorial and Cafeteria) and two production departments (Cutting and Assembly). Relevant details for these departments are as follows: Support Department Cost Driver Janitorial Department Square footage to be serviced Cafeteria Department Number of employees Line Item Description JanitorialDepartment CafeteriaDepartment CuttingDepartment AssemblyDepartment Department costs $280,000 $170,000 $1,520,000 $690,000 Square feet 50 4,900 500 4,500 Number of employees 8 2 36 24 Allocate the support department costs to the production departments using the direct method. Line Item Description CuttingDepartment AssemblyDepartment Janitorial Department cost allocation $fill in the blank 1 $fill in the…arrow_forward
- The following situations describe decision scenarios that could use managerial accounting information:1. The manager of High Times Restaurant wants to determine the price to charge for various lunch plates.2. By evaluating the cost of leftover materials, the plant manager of a precision tool facility wants to determine how effectively the plant is being run.3. The division controller of West Coast Supplies needs to determine the cost of products left in inventory.4. The manager of the Maintenance Department of a large manufacturing company wants to plan next year’s anticipated expenditures.For each situation, discuss how managerial accounting information could be used.arrow_forwardThe manager of High Times Restaurant wants to determine the price to charge for various lunch plates. Discuss what managerial accounting information the marginal accountant should provide and how the information would be usefularrow_forwardWhich one of the following options can be used when allocating cafeteria costs? Select one: a. Number of square feet b. Appraised value of square footage c. Number of direct labor hours d. Number of employeesarrow_forward
- Cost Classification Match each cost to the appropriate cost behavior pattern shown in graphs (a) through (l). Any graph can fit two or more patterns. The cost of lumber used to manufacture wooden kitchen tables. The cost of order fillers in a warehouse. When demand increases significantly, the number of order fillers is increased, and when demand falls off significantly, the number is decreased. The salary of the plant’s quality control inspector, who inspects each batch of products. The cost of water and sewer service to the manufacturing plant. The local municipality charges a fixed rate per gallon for usage up to 10,000 gallons and a higher charge per gallon for usage above that point. The cost of an internet connection of $23 per month. The cost of an internet connection of $10 per month plus $2 per hour of usage above 10 hours. The cost to make copies of a given document at a printing shop, where the per-copy charge is reduced for customers who make more than…arrow_forwardPareto chart and cost of quality report for a manufacturing company The president of Mission Inc. has been concerned about the growth in costs over the last several years. The president asked the controller to perform an activity analysis to gain a better insight into these costs. The activity analysis revealed the following: The production process is complicated by quality problems, requiring the production manager to expedite production and dispose of scrap. Instructions 1. Prepare a Pareto chart of the company activities. 2. Classify the activities into prevention, appraisal, internal failure, external failure, and not costs of quality (producing product). Classify the activities into value-added and non-value-added activities. 3. Use the activity cost information to determine the percentages of total costs that are prevention, appraisal, internal failure, external failure, and not costs of quality. 4. Determine the percentages of total costs that are value-added and non-value-added. 5. Interpret the information.arrow_forwardExplain how activity-based costing differs from traditional costing systems. Imagine that your local favorite restaurant decided to use an activity-based costing system. Create a brief outline by identifying 1-2 example activities at each of the following levels: a. Customer level b. Group level c. Service level d. Facility level.arrow_forward
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