SOLUTION MANUAL Managerial Accounting Tools for Business Decision Making 9th Edition by Jerry J. Weygandt, Paul D. Kimmel All Chapters 1-14, Complete

Managerial Accounting Tools for Business Decision Making
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SOLUTION MANUAL i n




ManagerialAccountingToolsforBusinessDecision
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Making
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EditionbyJerryJ.Weygandt,PaulD.Kimmel
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,TABLEOFCONTENTS

Chapter 1: Managerial Accounting
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n Chapter 2: Job Order Costing
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Chapter 2A: Job Order Costing: Non-Debit and Credit
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Approach Chapter 3: Process Costing
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Chapter 3A: Process Costing: Non-Debit and Credit Approach Chapter
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n 4: Activity-Based Costing
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Chapter 5: Cost-Volume-Profit
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Chapter 6: Cost-Volume-Profit Analysis: Additional
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n Issues Chapter 7: Incremental Analysis
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Chapter 8: Pricing
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Chapter 9: Budgetary Planning
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Chapter 10: Budgetary Control and Responsibility
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n Accounting Chapter 11: Standard Costs and Balanced
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n Scorecard Chapter 12: Planning for Capital n n n n




n Investments

Chapter 13: Statement of Cash
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,Flows Chapter 14: Financial
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Analysis
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, Managerial Accounting Tools for Business Decision Making i i i i i i




CHAPTER1
ManagerialAccounting
Learning Objectives n




1. Identify the features of managerial accounting and the functions of management.
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2. Describe the classes of manufacturing costs and the differences between product
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and period costs.
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3. Demonstrate how to compute cost of goods manufactured and prepare financial
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n statements for a manufacturer. n n




4. Discuss trends in managerial accounting.
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ANSWERSTOQUESTIONS
1. (a) Not true. Managerial accounting is a field of accounting that provides
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economic and financial
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(b) Joe is incorrect. Managerial accounting applies to all types of
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businesses—service, merchandising, and manufacturing.
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LO1 BT: nC Difficulty: n Easy TOT: n3 n min. n AACSB: nNone AICPA n FC: n Measurement, n Analysis n and n Interpretation
n IMA: nCost n Management




2. (a) Financial accounting is concerned primarily with external users such as
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stockholders, creditors,
n and regulators. In contrast, managerial n n n n n n n


accounting is concerned primarily with internal users
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officers and managers.
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(b) Financial statements are the end product of financial accounting. These statements
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are prepared quarterly and annually. In managerial accounting, internal
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reports may be prepared as frequently as needed.
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(c) The purpose of financial accounting is to provide general-purpose
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information for
n external users. The purpose of managerial n n n n n n n n n


accounting n is to provide special-purpose information for specific n n n n n n n n


internal decisions.
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LO1 BT: nC Difficulty: n Easy TOT: n 5 n min. n AACSB: nNone AICPA n FC: n Measurement, n Analysis n and n Interpretation
n IMA: nCost n Management




3. Differences in the content of the reports are as follows:
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Financial Managerial
 Limited to accrual
 Pertains to business as a whole
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accounting and cost
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n and ishighly aggregated.
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