PRINCIPLES OF COST ACCOUNTING17th EditionVanderbeck Publisher: CENGAGE LISBN: 9781305280151
PRINCIPLES OF COST ACCOUNTING
Solutions for PRINCIPLES OF COST ACCOUNTING
Problem 1Q:
Under what conditions may the unit costs of materials, labor, and overhead be computed by using only...Problem 2Q:
When is it necessary to use separate equivalent production figures in computing the unit costs of...Problem 3Q:
Why is it usually reasonable to assume that labor and factory overhead are added evenly throughout...Problem 4Q:
If materials are not put into process uniformly, what must be considered when determining the cost...Problem 5Q:
In what way do the cost of production summaries in Chapter 6, prepared using the weighted average...Problem 6Q:
Why might the total number of units completed during a month plus the number of units in process at...Problem 7Q:
What is the usual method of handling the cost of losses that occur normally during processing?
Problem 8Q:
If some units are normally lost during the manufacturing process and the remaining good units absorb...Problem 9Q:
How is the cost of units normally lost reflected in the manufacturing cost for the period?
Problem 11Q:
What adjustment must be made if materials added in a department increase the number of units being...Problem 12Q:
What is the difference between the unit costs are determined under the weighted average cost method...Problem 13Q:
What advantage does the FIFO cost method have over the average cost method relative to providing...Problem 14Q:
How would you define each of the following? a. joint products b. by-products c. joint costs d....Problem 15Q:
What are three methods of allocating joint costs?
Problem 1E:
Using the data given for Cases 13 below, and assuming the use of the average cost method, compute...Problem 2E:
Precision Inc. manufactures wristwatches on an assembly line. The work in process inventory as of...Problem 3E:
The following data appeared in the accounting records of Craig Manufacturing Inc., which uses the...Problem 4E:
Conte Chemical Co. uses the weighted average cost method. All materials are added at the start of...Problem 5E:
Assuming that all materials are added at the beginning of the process and that labor and factory...Problem 6E:
Foamy Inc. manufactures shaving cream and uses the weighted average cost method. In November,...Problem 7E:
Calculating unit costs; units lost in production Gray Brothers Products Inc. manufactures a liquid...Problem 8E:
Sonoma Products Inc. manufactures a liquid product in one department. Due to the nature of the...Problem 9E:
A company manufactures a liquid product called Crystal. The basic ingredients are put into process...Problem 10E:
Using the data given for Cases 1–3 and the FIFO cost method, compute the separate equivalent units...Problem 11E:
Assume each of the following conditions concerning the data given:
All materials are added at the...Problem 12E:
Adirondack Bat Co. processes rough timber to obtain three grades of lumber, A, B, and C that are...Problem 13E:
Computing joint costssales value at split-off and net realizable value methods D.L. Manufacturing...Problem 14E:
LeMoyne Manufacturing Inc.’s joint cost of producing 2,000 units of Product X, 1,000 units of...Problem 15E:
Making a journal entryby-product Petrone Metals manufactures tin. During the process, a...Problem 16E:
Espana Co. makes one main product, Uno, and a by-product, Dos, which splits off from the main...Problem 1P:
Manufacturing data for January and February in the Mixing Department of Klinger Kleaning Products...Problem 2P:
Manufacturing data for June and July in the Blending Department of Lucy’s Lotions Inc. follow:
All...Problem 3P:
On December 1, Carmel Valley Production Inc. had a work in process inventory of 1,200 units that...Problem 4P:
Akron Manufacturing Co. manufactures a cement-sealing compound called Seal-Rite. The process...Problem 5P:
Green Products Inc. cans peas and uses the weighted average cost method. For the month of November,...Problem 6P:
Monterrey Products Co. uses the process cost system. A record of the factory operations for the...Problem 8P:
Daytona Beverages Inc. uses the FIFO cost method and adds all materials, labor, and factory overhead...Problem 9P:
Clearwater Candy Co. had a cost per equivalent pound for the month of 4.56 for materials, 1.75 for...Problem 10P:
Mt. Palomar Manufacturing Co. uses a process cost system. Its manufacturing operation is carried on...Problem 11P:
Otto Inc. specializes in chicken farming. Chickens are raised, packaged, and sold mostly to grocery...Problem 12P:
Otto Inc. specializes in chicken farming. Chickens are raised, packaged, and sold mostly to grocery...Browse All Chapters of This Textbook
Chapter 1 - Introduction To Cost AccountingChapter 2 - Accounting For MaterialsChapter 3 - Accounting For LaborChapter 4 - Accounting For Factory OverheadChapter 5 - Process Cost Accounting—general ProceduresChapter 6 - Process Cost Accounting—additional Procedures; Accounting For Joint Products And By-productsChapter 7 - The Master Budget And Flexible BudgetingChapter 8 - Standard Cost Accounting—materials, Labor, And Factory OverheadChapter 9 - Cost Accounting For Service Businesses, The Balanced Scorecard, And Quality CostsChapter 10 - Cost Analysis For Management Decision Making
Sample Solutions for this Textbook
We offer sample solutions for PRINCIPLES OF COST ACCOUNTING homework problems. See examples below:
Chapter 1, Problem 1QChapter 1, Problem 12EChapter 1, Problem 6PChapter 1, Problem 7PChapter 1, Problem 9PChapter 1, Problem 10PChapter 1, Problem 13PChapter 2, Problem 1QJournal entry: Journal entry is a set of economic events which can be measured in monetary terms....
Chapter 2, Problem 17PChapter 3, Problem 1QChapter 3, Problem 7PChapter 3, Problem 9PJournal entry: Journal entry is a set of economic events which can be measured in monetary terms....Chapter 4, Problem 1QChapter 4, Problem 15PChapter 4, Problem 20PChapter 5, Problem 1QChapter 5, Problem 15EEquivalent units for production: The activity of a processing department in terms of fully completed...Chapter 5, Problem 2PPrepare a cost of production summary for the month March. G Inc.Cost of production summaryForming...Chapter 5, Problem 13PChapter 6, Problem 1QChapter 6, Problem 9EChapter 6, Problem 11EChapter 6, Problem 1PChapter 6, Problem 4PBudget: It is a planning device which is helpful for the company to set the goal and a gauge against...Chapter 7, Problem 2PPrepare the sales budget for the year ended December 31, 2016. SS IncorporationSales budgetFor the...Chapter 7, Problem 9PPrepare the factory overhead cost budget. Factory overhead cost budgetPercent of normal...Chapter 8, Problem 1QChapter 8, Problem 1EMaterials—2 lb @ $8$16Labor—1 hr @ $10$10Factory overhead ($4,000 ÷ 1,000 units)$4Standard unit...Materials—2 lb @ $8$16Labor—1 hr @ $10$10Factory overhead ($4,000 ÷ 1,000 units)$4Standard unit...Materials—2 lb @ $8$16Labor—1 hour @ $10$10Factory overhead ($4,000 ÷ 1,000 units)$4Standard unit...Materials—2 lb @ $8$16Labor—1 hr @ $10$10Factory overhead ($4,000 ÷ 1,000 units)$4Standard unit...Prepare the journal entries to record the transactions. ParticularsDebit($)Credit($)Work in...Chapter 8, Problem 1MCChapter 9, Problem 1QBudgeted overhead allocation rate: The budgeted overhead allocation rate is the rate at which the...Budgeted overhead allocation rate: The budgeted overhead allocation rate is the rate at which the...Budgeted overhead allocation rate: The budgeted overhead allocation rate is the rate at which the...Budgeted overhead allocation rate: The budgeted overhead allocation rate is the rate at which the...Chapter 10, Problem 1QAbsorption costing: It refers to the method of product costing in which the price of the product is...Absorption costing: It refers to the method of product costing in which the price of the product is...Chapter 10, Problem 9PCalculate the number of cans of each kind of nut sold as follows: Assume, x is cans of cashews sold,...Calculate the additional units that would have to be produced as follows: Additional units need to...
More Editions of This Book
Corresponding editions of this textbook are also available below:
Principles of Cost Accounting
17th Edition
ISBN: 9781305692862
PRIN. OF COST ACCT LL-W/CNOW >IP<
17th Edition
ISBN: 9781305770324
PRIN.OF COST ACCOUNTING-ACCESS
17th Edition
ISBN: 9781305254640
PRIN.OF COST ACCOUNTING-W/ACCESS
17th Edition
ISBN: 9781305620049
Principles of Cost Accounting
17th Edition
ISBN: 9781305087408
EBK PRINCIPLES OF COST ACCOUNTING
17th Edition
ISBN: 9780100544789
EBK PRINCIPLES OF COST ACCOUNTING
17th Edition
ISBN: 9781305480520
Principles of Cost Accounting
16th Edition
ISBN: 9781133187868
Principles Of Cost Accounting
16th Edition
ISBN: 9781133712701
Prct Principles of Cost Accounting
10th Edition
ISBN: 9780538850995
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