Solutions for Managerial Accounting
Problem 1DQ:
A. Name two principal types of cost accounting systems. B. Which system provides for a separate...Problem 2DQ:
What kind of firm would use a job order cost system?Problem 3DQ:
Which account is used in the job order cost system to accumulate direct materials, direct labor, and...Problem 4DQ:
What document is the source for (A) debiting the accounts in the materials ledger and (B) crediting...Problem 5DQ:
What is a job cost sheet?Problem 7DQ:
Discuss how the predetermined factory overhead rate can be used in job order cost accounting to...Problem 8DQ:
A. How is a predetermined factory overhead rate computed? B. Name three common bases used in...Problem 1BE:
Issuance of materials On May 7, Bergan Company purchased on account 10,000 units of raw materials at...Problem 2BE:
Direct labor costs During May, Bergan Company accumulated 2,500 hours of direct labor costs on Job...Problem 3BE:
Factory overhead costs During May, Bergan Company incurred factory overhead costs as follows:...Problem 6BE:
Cost of goods sold Pine Creek Company completed 200,000 units during the year at a cost of...Problem 1E:
Transactions in a job order cost system Five selected transactions for the current month are...Problem 3E:
Cost of materials issuances under the FIFO method An incomplete subsidiary ledger of materials...Problem 5E:
Entries for materials GenX Furnishings Company manufactures designer furniture. GenX Furnishings...Problem 7E:
Entry for factory labor costs The weekly time tickets indicate the following distribution of labor...Problem 11E:
Predetermined factory overhead rate Poehling Medical Center has a single operating room that is used...Problem 13E:
Entries for factory costs and jobs completed Old School Publishing Inc. began printing operations on...Problem 16E:
Job order cost accounting for a service company The Fly Company provides advertising services for...Problem 2PA:
Entries and schedules for unfinished jobs and completed jobs Kurtz Fencing Inc. uses a job order...Problem 3PA:
Job cost sheet Remnant Carpet Company sells and installs commercial carpeting for office buildings....Problem 4PA:
Analyzing manufacturing cost accounts Fire Rock Company manufactures designer paddle boards in a...Problem 1PB:
Entries for costs in a job order cost system Royal Technology Company uses a job order cost system....Problem 2PB:
Entries and schedules for unfinished jobs and completed jobs Hildreth Company uses a job order cost...Problem 3PB:
Job cost sheet Stretch and Trim Carpet Company sells and installs commercial carpeting for office...Problem 4PB:
Analyzing manufacturing cost accounts Clapton Company manufactures custom guitars in a wide variety...Problem 5PB:
Flow of costs and income statement Technology Accessories Inc. is a designer, manufacturer, and...Problem 1ADM:
Alvarez Manufacturing Inc. is a job shop. The management of Alvarez Manufacturing Inc. uses the cost...Browse All Chapters of This Textbook
Chapter 1 - Introduction To Managerial AccountingChapter 2 - Job Order CostingChapter 3 - Process Cost SystemsChapter 4 - Activity-based CostingChapter 5 - Cost-volume-profit AnalysisChapter 6 - Variable Costing For Management
analysisChapter 7 - BudgetingChapter 8 - Evaluating Variances From Standard CostsChapter 9 - Evaluating Decentralized OperationsChapter 10 - Differential Analysis And Product Pricing
Book Details
Warren/Reeve/Duchac's Managerial Accounting 14E provides the foundation in managerial accounting fundamentals that you need to succeed by clearly showing how accounting is important to business. Business examples and a unique chapter schema provide context for readers, demonstrating how each chapter's content fits into the big picture, connecting fundamental concepts with real businesses.
Sample Solutions for this Textbook
We offer sample solutions for Managerial Accounting homework problems. See examples below:
Financial accounting: Financial accounting is the process of recording, summarizing, and reporting...Chapter 1, Problem 4PAChapter 1, Problem 4PBManagerial accounting: Managerial accounting is the process of identifying, measuring, analyzing,...Chapter 2, Problem 1DQWorking note: The cost of services is calculated as follows: Cost of services =(Professional charges...Chapter 2, Problem 2PAChapter 2, Problem 2PBPredetermined factory overhead rate Normally, factory overhead costs are applied or allocated to...
Chapter 3, Problem 1DQChapter 3, Problem 16EEquivalents units for production The activity of a processing department in terms of fully completed...Chapter 3, Problem 1PAChapter 3, Problem 1PBChapter 3, Problem 2PBChapter 3, Problem 4PBChapter 4, Problem 1DQCompute single plant-wide overhead rate using DLH as the allocation base. Step 1: Compute the total...Compute single plant-wide overhead rate using DLH as the allocation base. Single plant-wide overhead...Chapter 4, Problem 3PAChapter 4, Problem 3PBCompute activity-based overhead rates. Computation of Activity-Based Overhead Rates Activity Cost...Chapter 5, Problem 1DQCost-Volume-Profit Analysis: It is a method followed to analyze the relationship between the sales,...Chapter 5, Problem 6PACost-Volume-Profit Analysis: It is a method followed to analyze the relationship between the sales,...Sales mix: It refers to the relative distribution of the total sales among the number of products...Chapter 5, Problem 6PBChapter 6, Problem 1DQThe contribution margin ratio for each salesperson is as follows: Rene HO Incorporation Contribution...Working notes: 1. Calculate the value of ending inventory per unit. Ending inventory =Cost of good...Working notes: 1. Calculate the value of ending inventory per unit. Ending inventory =Cost of good...Chapter 6, Problem 1PBChapter 6, Problem 3PBBudgeting: Budgeting is a process to prepare the financial statement by the manager to estimate the...The following table shows the production budget for D and 501 J. Company LProduction BudgetFor the...Chapter 7, Problem 2PAThe following table shows the sales budget. Company F Sales Budget For the Month Ending December 31...Chapter 7, Problem 2PBChapter 7, Problem 3PBChapter 8, Problem 1DQIncome statement with variances: The financial statement which reports revenues and expenses from...Chapter 8, Problem 12EChapter 8, Problem 5PAChapter 8, Problem 1PBThe fixed, and variable portion of the utility cost using the high-low method is $500,and $240 in...Chapter 9, Problem 1DQChapter 9, Problem 5E1) Determine ROI of MN Segment, if income from operations is $7,321,000,000, sales are...Profit margin: This ratio gauges the operating profitability by quantifying the amount of income...Chapter 9, Problem 4PAProfit margin: This ratio gauges the operating profitability by quantifying the amount of income...Chapter 10, Problem 1DQChapter 10, Problem 5PADesired Profit: Company NG aims at earning a profit of 10% of the total investment made of $600,000....Chapter 10, Problem 1ADMDifferential Analysis: Differential analysis refers to the analysis of differential revenue that...Chapter 11, Problem 1DQCash payback method: Cash payback period is the expected time period which is required to recover...Cash payback period: Cash payback period is the time period which the cost of investment is expected...Calculation for the initial investment cost of the wind turbine is as follows: Initial Investment...Chapter 12, Problem 1DQLean Manufacturing: Lean manufacturing aims at reducing the cost and minimizing the waste involved...Chapter 12, Problem 13ELean Manufacturing: Lean manufacturing aims at reducing the cost and minimizing the waste involved...Chapter 12, Problem 3PAChapter 12, Problem 3PBStatement of cash flows: It is one of the financial statement that shows the cash and cash...Chapter 13, Problem 17EStatement of cash flows: It is one of the financial statement that shows the cash and cash...Statement of cash flows: It is one of the financial statement that shows the cash and cash...Statement of cash flows: It is one of the financial statement that shows the cash and cash...Company AT has more revenue of $132,447 which is more than the revenue of Company F of revenue...Financial Ratios: Financial ratios are the metrics used to evaluate the capabilities, profitability,...Financial Ratios: Financial ratios are the metrics used to evaluate the liquidity, capabilities,...Chapter 14, Problem 4PACompute working capital. Working capital=Current assets–Current liabilities= $3,200,000 –...Financial Ratios: Financial ratios are the metrics used to evaluate the capabilities, profitability,...Financial Ratios: Financial ratios are the metrics used to evaluate the liquidity, capabilities,...a. Working capital for 2016 and 2015 Working capital (2016)= Current assets – Current liabilities =...
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