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 aStudy a1-6 a(10 aminutes)
Ending awork ain aprocess ainventory ais acomputed aas:
Work ain aprocess ainventory, abeginning $ a 26,000
a...............
Direct amaterials auseda....................................... 74,000
Direct alabor aused a.............................................. 55,000
Factory aoverhead a............................................. a a 95,000
Total amanufacturing acosts a.............................. a224,000
Total acost aof awork ain aprocess a.............................. 250,000
Less acost aof agoods amanufactured a...................... a 220,000
Work ain aprocess ainventory, aending $ a30,000
a.....................
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 aStudy a1-6 a(10 aminutes)
Ending awork ain aprocess ainventory ais acomputed aas:
Work ain aprocess ainventory, abeginning $ a 26,000
a...............
Direct amaterials auseda....................................... 74,000
Direct alabor aused a.............................................. 55,000
Factory aoverhead a............................................. a a 95,000
Total amanufacturing acosts a.............................. a224,000
Total acost aof awork ain aprocess a.............................. 250,000
Less acost aof agoods amanufactured a...................... a 220,000
Work ain aprocess ainventory, aending $ a30,000
a.....................
