Solution Manual For Fundamentals of Financial Accounting 7th Edition Phillips.

SOLUTIONMANUAL x




Fundamentals of Cost x x


Accounting
7th
x
Edition by Lanen all
x x x x


x chapters




Solutions xManual, xChapter x4 1
© xMcGraw xHill xLLC. xAll xrights xreserved. xNo xreproduction xor xdistribution xwithout xthe
xprior x written xconsent x of xMcGraw xHill xLLC.

,TABLE xOF
xCONTENT


INTRODUCTION xAND xOVERVIEW
Chapter xOne: xCost xAccounting: xInformation xfor xDecision
xMaking x Chapter xTwo: xCost xConcepts xand xBehavior




COST xANALYSIS xAND xESTIMATION
Chapter xThree: xFundamentals xof xCost-Volume-Profit xAnalysis
x Chapter xFour: xFundamentals xof xCost xAnalysis xfor xDecision

xMaking x Chapter xFive: xCost xEstimation




COST xMANAGEMENT xSYSTEMS
Chapter xSix: xFundamentals xof xProduct xand xService xCosting
x Chapter xSeven: xJob xCosting

Chapter xEight: xProcess xCosting
x Chapter xNine: xActivity-Based

xCosting

Chapter xTen: xFundamentals xof xCost xManagement
Chapter xEleven: xService xDepartment xand xJoint xCost xAllocation

MANAGEMENT xCONTROL xSYSTEMS
Chapter xTwelve: xFundamentals xof xManagement xControl
xSystems x Chapter xThirteen: xPlanning xand xBudgeting

Chapter xFourteen: xBusiness xUnit xPerformance xMeasurement
x Chapter xFifteen: xTransfer xPricing

Chapter xSixteen: xFundamentals xof xVariance xAnalysis
x Chapter xSeventeen: xAdditional xTopics xin xVariance

xAnalysis

Chapter xEighteen: xPerformance xMeasurement xto xSupport xBusiness xStrategy




2 Fundamentals xof xCost xAccounting,
x7e

© xMcGraw xHill xLLC. xAll xrights xreserved. xNo xreproduction xor xdistribution xwithout xthe
xprior x written xconsent x of xMcGraw xHill xLLC.

,1
Cost Accounting: Information for Decision
x x x x




Making
x




Solutions to Review Questions
x x x




1-1.
Among xthe xgoals xof xan xorganization, xa xcentral xone xis xto xcreate xand xincrease x value.
xCost x accounting xsystems xare xdesigned xto xprovide xinformation xto xdecision xmakers xin

xthe x organization xwith xthe xinformation xthey xneed xto xaccomplish xthis xgoal. xTherefore,

xthe x designers xof xthe xcost xaccounting xsystem xneed xto xunderstand xhow xvalue xis

xcreated xin xthe x organization xto xdesign xsystems xfor xtheir xorganization.

Solutions xManual, xChapter x4 3
© xMcGraw xHill xLLC. xAll xrights xreserved. xNo xreproduction xor xdistribution xwithout xthe
xprior x written xconsent x of xMcGraw xHill xLLC.

, 1-2.
Financial xaccounting xis xdesigned xto xprovide xinformation xabout xthe xfirm xto xexternal
xusers. x External xusers xinclude xinvestors, xcreditors, xgovernment xauthorities,

xregulators, x customers, xcompetitors, xsuppliers, xlabor xunions, xand xso xon. xCost

xaccounting xsystems x x are xdesigned xto xprovide xinformation xto xinternal xusers

x(managers).



This xdifference xis ximportant, xbecause xit xaffects xthe xdesign xof xthe xsystems. xFinancial
x accounting xsystems xare xbased xon xstandards xor xrules. xThis xallows xthe xuser xto

xcompare x the xresults xof xdifferent xfirms. xManagerial xaccounting xsystems xdo xnot

xrequire xrules. xEach x firm xis xfree xto xdevelop xmanagerial xaccounting xsystems xthat

xbest xserve xthe xneeds xof xthe x decision xmakers x(managers).




1-3.
B Providing xcost xinformation xfor xfinancial
x reporting x A xIdentifying xthe xbest xstore xin xa
chain
x




4 Fundamentals xof xCost xAccounting,
x7e

© xMcGraw xHill xLLC. xAll xrights xreserved. xNo xreproduction xor xdistribution xwithout xthe
xprior x written xconsent x of xMcGraw xHill xLLC.