Solution Manual for Managerial Accounting, 8th Edition by John Wild, Ken Shaw & Barbara Chiappetta – Complete

Solution manual for Managerial Accounting
8th edition
by john wild, ken shaw, barbara chiappetta
Verified Chapter's 1 - 13 | Complete

,TABLE OF CONTENTS
Chapter 1: Managerial Accounting Concepts and Principles


Chapter 2: Job Order Costing and Analysis


Chapter 3: Process Costing and Analysis


Chapter 4: Activity-Based Costing and Analysis


Chapter 5: Cost Behavior and Cost-Volume-Profit Analysis


Chapter 6: Variable Costing and Analysis


Chapter 7: Master Budgets and Planning


Chapter 8: Flexible Budgets and Standard Costs


Chapter 9: Performance Measurement and Responsibility Accounting


Chapter 10: Relevant Costs for Managerial Decisions


Chapter 11: Capital Budgeting and Investment Analysis


Chapter 12: Reporting Cash Flows


Chapter 13: Analysis of Financial Statements

,Chapter 1
Managerial Accounting Concepts
and Principles

QUICK STUDIES
Quick Study 1-1 (5 minutes)
1. Its primary users are company managers .............................. Managerial
2. Its information is often available only after an audit is complete . Financial
3. Its primary focus is on the organization as a whole .............. Financial
4. Its principles and practices are relatively flexible ................. Managerial
5. It focuses mainly on past results............................................. Financial


Quick Study 1-2 (10 minutes)
1. Indirect cost
2. Direct cost
3. Indirect cost
4. Indirect cost
5. Direct cost

Quick Study 1-3 (10 minutes)
1. Direct materials
2. Factory overhead
3. Direct labor
4. Factory overhead
5. Factory overhead
6. Direct materials

, Quick Study 1-4 (10 minutes)

1. Product cost
2. Period cost
3. Product cost
4. Period cost
5. Product cost
6. Period cost
7. Period cost
8. Product cost



Quick Study 1-5 (10 minutes)

1. Prime cost
2. Conversion cost (Glue is an indirect material)
3. Both
4. Conversion cost
5. Conversion cost
6. Prime cost



Quick Study 1-6 (10 minutes)
Ending work in process inventory is computed as:
Work in process inventory, beginning ............... $ 26,000

Direct materials used ....................................... 74,000
Direct labor used .............................................. 55,000
Factory overhead ............................................. 95,000
Total manufacturing costs .............................. 224,000
Total cost of work in process .............................. 250,000
Less cost of goods manufactured ...................... 220,000
Work in process inventory, ending ..................... $ 30,000