Principles of Cost Accounting17th EditionEdward J. Vanderbeck; Maria R. Mitchell Publisher: Cengage Learning USISBN: 9781305692862
Principles of Cost Accounting
Solutions for Principles of Cost Accounting
Problem 1Q:
What are factory overhead expenses, and what distinguishes them from other manufacturing costs? What...Problem 3Q:
What are the distinguishing characteristics of variable, fixed, and semivariable factory overhead...Problem 4Q:
When a products cost is composed of fixed and variable costs, what effect does the increase or...Problem 5Q:
What effect does a change in volume have on total variable, fixed, and semivariable costs?Problem 7Q:
What is the basic premise underlying the high-low method of analyzing semivariable costs?Problem 8Q:
What are the advantages and disadvantages of the scattergraph method as compared to the high-low...Problem 9Q:
Differentiate between an independent variable and a dependent variable and give an example of each.Problem 12Q:
How does accounting for factory overhead differ in small enterprises versus large enterprises?
Problem 13Q:
What is the function and use of each of the two types of factory overhead analysis spreadsheets?Problem 14Q:
What are two types of departments found in a factory? What is the function or purpose of each?Problem 15Q:
What are the two most frequently used methods of distributing service department costs to production...Problem 16Q:
When using the sequential distribution method of distributing service department costs, if a service...Problem 17Q:
When using the sequential distribution method of distributing service department costs, if each of...Problem 18Q:
Is it possible to close the total factory overhead to the individual producing departments with a...Problem 19Q:
What are the shortcomings of waiting until the actual factory overhead expenses are known before...Problem 22Q:
What factory operating conditions and data are required for each of the traditionally used methods...Problem 24Q:
How does activity-based costing differ from traditional methods of applying overhead to products?Problem 29Q:
If the factory overhead control account has a credit balance of 2,000 at the end of the first month...Problem 1E:
Classify each of the following items of factory overhead as either a fixed or a variable cost....Problem 2E:
Ames Automotive Company has accumulated the following data over a six-month period:
Separate the...Problem 4E:
Using the data in E4-2 and spreadsheet software, determine:
The variable cost per unit, the total...Problem 5E:
El Paso Products Company has accumulated the following data over a six-month period:
Separate the...Problem 6E:
Computing unit costs at different levels of production
French Fragrances, Ltd. budgeted for 12,000...Problem 7E:
Identifying basis for distribution of service department costs
What would be the appropriate basis...Problem 8E:
A manufacturing company has two service and two production departments. Building Maintenance and...Problem 9E:
A manufacturing company has two service and two production departments. Human Resources and Machine...Problem 10E:
Compute the total job cost for each of the following scenarios: a. If the direct labor cost method...Problem 11E:
Classify each of the following items of factory overhead as a(n) unit-level, batch-level,...Problem 12E:
Job 25AX required 5,000 for direct materials, 2,000 for direct labor, 200 direct labor hours, 100...Problem 13E:
Job 19AB required 10,000 for direct materials, 4,000 for direct labor, 300 direct labor hours, 150...Problem 14E:
Match each of the following cost pools with the most appropriate cost allocation base and determine...Problem 15E:
The books of Petry Products Co. revealed that the following general journal entry had been made at...Problem 16E:
The general ledger of Lawson Lumber Co. contains the following control account:
If the materials...Problem 17E:
Nelson Fabrication Inc. had a remaining credit balance of $20,000 in its under- and overapplied...Problem 18E:
Housley Paints Co. had a remaining debit balance of $25,000 in its under- and overapplied factory...Problem 1P:
The cost behavior patterns below are lettered A through H. The vertical axes of the graphs represent...Problem 2P:
Miller Minerals Co. manufactures a product that requires the use of a considerable amount of natural...Problem 3P:
Scattergraph method Using the data in P4-2 and a piece of graph paper: 1. Plot the data points on...Problem 4P:
Using the data in P4-2 and Microsoft Excel: 1. Separate the variable and fixed elements. 2....Problem 5P:
Listed below are the budgeted factory overhead costs for 2011 for Moss Industries at a projected...Problem 6P:
Menlo Materials is divided into five departments, Mixing, Blending, Finishing, Factory Office, and...Problem 7P:
Distribution of service department costs to production departments using the sequential distribution...Problem 8P:
Journalizing the distribution of service department costs to production departments
Required:
Using...Problem 9P:
Channel Products Inc. uses the job order cost system of accounting. The following is a list of the...Problem 10P:
Determining job costcalculation of predetermined rate for applying overhead by direct labor cost and...Problem 11P:
Focus Fabrication Co. uses ABC. The factory overhead budget for the coming period is 500,000,...Problem 12P:
Mansfield Manufacturing Co. uses ABC. The factory overhead budget for the coming period is 750,000,...Problem 13P:
Hughes Products Inc. uses a job order cost system. Selected transactions dealing with factory items...Problem 14P:
Abbey Products Company is studying the results of applying factory overhead to production. The...Problem 15P:
The following information, taken from the books of Herman Brothers Manufacturing represents the...Problem 16P:
Rockford Company has four departmental accounts: Building Maintenance, General Factory Overhead,...Problem 17P:
Luna Manufacturing Inc. completed Job 2525 on May 31, and there were no jobs in process in the...Problem 18P:
Phillips Products, Inc. had a remaining credit balance of $10,000 in its under- and overapplied...Problem 19P:
Nathan Industries had a remaining debit balance of $20,000 in its under- and overapplied factory...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:
PRIN. OF COST ACCT LL-W/CNOW >IP<
17th Edition
ISBN: 9781305770324
PRIN.OF COST ACCOUNTING-ACCESS
17th Edition
ISBN: 9781305254640
PRINCIPLES OF COST ACCOUNTING
17th Edition
ISBN: 9781305280151
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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