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 |data. Extends beyond accrual
Generally |accepted |accounting |principles. accounting
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 |data. Extends beyond accrual
Generally |accepted |accounting |principles. accounting
system |to |any |relevant |data.
Copyright |© |2021 |John |Wiley |& |Sons, |Inc. Weygandt, |Managerial |Accounting
| 9e, |Solutions | Manual (For |Instructor |Use |Only) 1-1
