Managerial Accounting15th EditionCarl Warren, Ph.d. Cma William B. Tayler Publisher: South-Western College PubISBN: 9781337912020
Managerial Accounting
Solutions for Managerial Accounting
Problem 2DQ:
What is meant by reporting by the principle of exceptions, as the term is used in reference to cost...Problem 3DQ:
What are the two variances between the actual cost and the standard cost for direct materials?Problem 4DQ:
The materials cost variance report for Nickols Inc. indicates a large favorable materials price...Problem 5DQ:
A. What are the two variances between the actual cost and the standard cost for direct labor? B. Who...Problem 7DQ:
Would the use of standards be appropriate in a nonmanufacturing setting, such as a fast-food...Problem 8DQ:
A. Describe the two variances between the actual costs and the standard costs for factory overhead....Problem 9DQ:
At the end of the period, the factory overhead account has a credit balance of 10,000. (a) Is the...Problem 10DQ:
If variances are recorded in the accounts at the time the manufacturing costs are incurred, what...Problem 1BE:
Direct materials variances Bellingham Company produces a product that requires 2.5 standard pounds...Problem 2BE:
Direct labor variances Bellingham Company produces a product that requires 4 standard direct labor...Problem 3BE:
Factory overhead controllable variance Bellingham Company produced 15,000 units of product that...Problem 4BE:
Factory overhead volume variance Bellingham Company produced 15,000 units of product that required 4...Problem 5BE:
Standard cost journal entries Bellingham Company produced 15,000 units that require 2.5 standard...Problem 1E:
Crazy Delicious Inc. produces chocolate bars. The primary materials used in producing chocolate bars...Problem 3E:
Salisbury Bottle Company manufactures plastic two-liter bottles for the beverage industry. The cost...Problem 4E:
The following data relate to the direct materials cost for the production of 50,000 automobile...Problem 5E:
De Soto Inc. produces tablet computers. The company uses Thin Film Crystal (TFC) LCD displays for...Problem 6E:
Standard direct materials cost per unit from variance data The following data relating to direct...Problem 7E:
H.J. Heinz Company uses standards to control its materials costs. Assume that a batch of ketchup...Problem 8E:
Direct labor variances The following data relate to labor cost for production of 20,000 cellular...Problem 9E:
Glacier Bicycle Company manufactures commuter bicycles from recycled materials. The following data...Problem 10E:
Ada Clothes Company produced 40,000 units during April. The Cutting Department used 12,800 direct...Problem 12E:
Direct materials and direct labor variances At the beginning of June, Bezco Toy Company budgeted...Problem 13E:
Flexible overhead budget Leno Manufacturing Company prepared the following factory overhead cost...Problem 15E:
Factory overhead cost variances The following data relate to factory overhead cost for the...Problem 16E:
Thomas Textiles Corporation began November with a budget for 60,000 hours of production in the...Problem 18E:
Factory overhead cost variance report Tannin Products Inc. prepared the following factory overhead...Problem 21E:
Income statement indicating standard cost variances The following data were taken from the records...Problem 24E:
Rosenberry Company computed the following revenue variances for January: Revenue price variance...Problem 25E:
Lowell Manufacturing Inc. has a normal selling price of 20 per unit and has been selling 125,000...Problem 1PA:
Shasta Fixture Company manufactures faucets in a small manufacturing facility. The faucets are made...Problem 2PA:
Flexible budgeting and variance analysis I Love My Chocolate Company makes dark chocolate and light...Problem 3PA:
Direct materials, direct labor, and factory overhead cost variance analysis Mackinaw Inc. processes...Problem 4PA:
Factory overhead cost variance report Tiger Equipment Inc., a manufacturer of construction...Problem 5PA:
CodeHead Software Inc. does software development. One important activity in software development is...Problem 1PB:
Direct materials and direct labor variance analysis Lenni Clothing Co. manufactures clothing in a...Problem 2PB:
Flexible budgeting and variance analysis Im Really Cold Coat Company makes womens and mens coats....Problem 3PB:
Direct materials, direct labor, and factory overhead cost variance analysis Road Gripper Tire Co....Problem 4PB:
Factory overhead cost variance report Feeling Better Medical Inc., a manufacturer of disposable...Problem 1MAD:
Advent Software uses standards to manage the cost of the programming staff. There are two programmer...Problem 1TIF:
Ethics in action Dash Riprock is a cost analyst with Safe Insurance Company. Safe is applying...Problem 3TIF:
Variance interpretation Vanadium Audio Inc. is a small manufacturer of electronic musical...Problem 1CMA:
MinnOil performs oil changes and other minor maintenance services on cars and trucks. The company...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 - Support Department And Joint Cost AllocationChapter 6 - Cost-volume-profit AnalysisChapter 7 - Variable Costing For Management
analysisChapter 8 - BudgetingChapter 9 - Evaluating Variances From Standard CostsChapter 10 - Evaluating Decentralized Operations
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 1DQChapter 2, Problem 2PAChapter 2, Problem 2PBJob order costing Job order cost system provides a separate record of each particular quantity of...Predetermined factory overhead rate Normally, factory overhead costs are applied or allocated to...
Chapter 3, Problem 1DQChapter 3, Problem 8EChapter 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 4PBChapter 4, Problem 1DQChapter 4, Problem 4EChapter 4, Problem 13ESingle plant-wide factory overhead rate: The rate at which the factory or manufacturing overheads...Chapter 4, Problem 3PAChapter 4, Problem 3PBChapter 5, Problem 1DQChapter 5, Problem 6ECost allocation: The cost allocation refers to the process of allocating the costs associated with...Chapter 5, Problem 10EChapter 5, Problem 2PAChapter 5, Problem 2PBChapter 6, Problem 1DQCost-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 6, 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 6, Problem 6PBChapter 7, Problem 1DQChapter 7, Problem 14EAbsorption Costing Absorption costing is compulsory under Generally Accepted Accounting Principles...Chapter 7, Problem 3PAChapter 7, Problem 1PBChapter 7, Problem 3PBBudgeting: Budgeting is a process to prepare the financial statement by the manager to estimate the...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 8, Problem 2PAChapter 8, Problem 3PAChapter 8, Problem 2PBChapter 8, Problem 3PBChapter 9, Problem 1DQIncome statement with variances: The financial statement which reports revenues and expenses from...Chapter 9, Problem 12EChapter 9, Problem 1PAChapter 9, Problem 5PAChapter 9, Problem 1PBDirect material variances: The difference between the actual material cost per unit and the standard...Chapter 10, Problem 1DQChapter 10, Problem 5EProfit margin: This ratio gauges the operating profitability by quantifying the amount of income...Income statement: The financial statement which reports revenues and expenses from business...Chapter 10, Problem 4PAIncome statement: The financial statement which reports revenues and expenses from business...Profit margin: This ratio gauges the operating profitability by quantifying the amount of income...Chapter 11, Problem 1DQChapter 11, Problem 6PADesired Profit: Company NG aims at earning a profit of 10% of the total investment made of $600,000....Chapter 11, Problem 1MADChapter 11, Problem 2MADDifferential Analysis: Differential analysis refers to the analysis of differential revenue that...Chapter 12, 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...Net present value method: Net present value method is used to compare the initial cash outflow of...Chapter 13, Problem 1DQLean Manufacturing: Lean manufacturing aims at reducing the cost and minimizing the waste involved...Chapter 13, Problem 13ELean Manufacturing: Lean manufacturing aims at reducing the cost and minimizing the waste involved...Chapter 13, Problem 3PAChapter 13, Problem 3PBChapter 14, Problem 1DQChapter 14, Problem 10EChapter 14, Problem 2PAChapter 14, Problem 2PBStatement of cash flows: It is one of the financial statement that shows the cash and cash...Chapter 15, 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...Statement of cash flows: Statement of cash flow is a financial statement that shows the cash and...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 16, Problem 4PAFinancial Ratios: Financial ratios are the metrics used to evaluate the liquidity, capabilities,...Compute 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,...
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