SOLUTION MANUAL
Managerial Accounting Tools for Business Decision
Making
9th Edition by Jerry J. Weygandt, Paul D. Kimmel
Chapters 1 - 14, Complete
,TABLE OF CONTENTS
Chapter 1: Managerial Accounting
Chapter 2: Job Order Costing
Chapter 2A: Job Order Costing: Non-Debit and Credit Approach
Chapter 3: Process Costing
Chapter 3A: Process Costing: Non-Debit and Credit Approach
Chapter 4: Activity-Based Costing
Chapter 5: Cost-Volume-Profit
Chapter 6: Cost-Volume-Profit Analysis: Additional Issues
Chapter 7: Incremental Analysis
Chapter 8: Pricing
Chapter 9: Budgetary Planning
Chapter 10: Budgetary Control and Responsibility Accounting
Chapter 11: Standard Costs and Balanced Scorecard
Chapter 12: Planning for Capital Investments
Chapter 13: Statement of Cash Flows
,Chapter 14: Financial Analysis
CHAPTER 1
Managerial Accounting
Learning Objectives
1. Identify the features of managerial accounting and the functions of management.
2. Describe the classes of manufacturing costs and the differences between product
and period costs.
3. Demonstrate how to compute cost of goods manufactured and prepare financial
statements for a manufacturer.
4. Discuss trends in managerial accounting.
ANSWERS TO QUESTIONS
1. (a) Not true. Managerial accounting is a field of accounting that provides economic and
financial information for managers and other internal users.
(b) Joe is incorrect. Managerial accounting applies to all types of businesses—service,
merchandising, and manufacturing.
LO1 BT: C Difficulty: Easy TOT: 3 min. AACSB: None AICPA FC: Measurement, Analysis and Interpretation IMA: Cost
Management
2. (a) Financial accounting is concerned primarily with external users such as stockholders,
creditors, and regulators. In contrast, managerial accounting is concerned primarily
with internal users such as officers and managers.
(b) Financial statements are the end product of financial accounting. These statements
are prepared quarterly and annually. In managerial accounting, internal reports may
be prepared as frequently as needed.
(c) The purpose of financial accounting is to provide general-purpose information for
external users. The purpose of managerial accounting is to provide special-purpose
, information for specific internal decisions.
LO1 BT: C Difficulty: Easy TOT: 5 min. AACSB: None AICPA FC: Measurement, Analysis and Interpretation IMA: Cost
Management
3. Differences in the content of the reports are as follows:
Financial Managerial
• Pertains to business as a whole and is • Pertains to subunits of the business
highly aggregated. and may be very detailed.
• Limited to accrual accounting and cost • Extends beyond accrual
data. accounting
• Generally accepted accounting principles. system to any relevant data.
Copyright © 2021 John Wiley & Sons, Inc. Weygandt, Managerial Accounting
9e, Solutions Manual (For Instructor Use Only) 1-1
Managerial Accounting Tools for Business Decision
Making
9th Edition by Jerry J. Weygandt, Paul D. Kimmel
Chapters 1 - 14, Complete
,TABLE OF CONTENTS
Chapter 1: Managerial Accounting
Chapter 2: Job Order Costing
Chapter 2A: Job Order Costing: Non-Debit and Credit Approach
Chapter 3: Process Costing
Chapter 3A: Process Costing: Non-Debit and Credit Approach
Chapter 4: Activity-Based Costing
Chapter 5: Cost-Volume-Profit
Chapter 6: Cost-Volume-Profit Analysis: Additional Issues
Chapter 7: Incremental Analysis
Chapter 8: Pricing
Chapter 9: Budgetary Planning
Chapter 10: Budgetary Control and Responsibility Accounting
Chapter 11: Standard Costs and Balanced Scorecard
Chapter 12: Planning for Capital Investments
Chapter 13: Statement of Cash Flows
,Chapter 14: Financial Analysis
CHAPTER 1
Managerial Accounting
Learning Objectives
1. Identify the features of managerial accounting and the functions of management.
2. Describe the classes of manufacturing costs and the differences between product
and period costs.
3. Demonstrate how to compute cost of goods manufactured and prepare financial
statements for a manufacturer.
4. Discuss trends in managerial accounting.
ANSWERS TO QUESTIONS
1. (a) Not true. Managerial accounting is a field of accounting that provides economic and
financial information for managers and other internal users.
(b) Joe is incorrect. Managerial accounting applies to all types of businesses—service,
merchandising, and manufacturing.
LO1 BT: C Difficulty: Easy TOT: 3 min. AACSB: None AICPA FC: Measurement, Analysis and Interpretation IMA: Cost
Management
2. (a) Financial accounting is concerned primarily with external users such as stockholders,
creditors, and regulators. In contrast, managerial accounting is concerned primarily
with internal users such as officers and managers.
(b) Financial statements are the end product of financial accounting. These statements
are prepared quarterly and annually. In managerial accounting, internal reports may
be prepared as frequently as needed.
(c) The purpose of financial accounting is to provide general-purpose information for
external users. The purpose of managerial accounting is to provide special-purpose
, information for specific internal decisions.
LO1 BT: C Difficulty: Easy TOT: 5 min. AACSB: None AICPA FC: Measurement, Analysis and Interpretation IMA: Cost
Management
3. Differences in the content of the reports are as follows:
Financial Managerial
• Pertains to business as a whole and is • Pertains to subunits of the business
highly aggregated. and may be very detailed.
• Limited to accrual accounting and cost • Extends beyond accrual
data. accounting
• Generally accepted accounting principles. system to any relevant data.
Copyright © 2021 John Wiley & Sons, Inc. Weygandt, Managerial Accounting
9e, Solutions Manual (For Instructor Use Only) 1-1
