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Accounting Chapter 15 Livers Inc. Statement Of Cash Flows
Instructions Answers are entered in the cells with gray backgrounds. An asterisk (*) will appear to the right of an incorrect entry. The optional work sheet will not be graded, but is provided as an aid in determining amounts for […]
Accounting Chapter 15 Homework Olson-Jones Industries Inc. Statement of Cash Flows Net increase (decrease) in cash For the Year Ended December 31, 20Y2
Instructions Answers are entered in the cells with gray backgrounds. An asterisk (*) will appear to the right of an incorrect entry. The essay answer will not be graded. Exercise 15-17 Name: Section: Score: Key Code: 0% [Key code here] […]
Accounting Chapter 15 Homework A relative measure that can be used to compare free cash flow across the three companies is the ratio of free cash flow sales
CHAPTER 15 Statement of Cash Flows Appendix 2 Prob. 15–4B Martinez Inc. Statement of Cash Flows For the Year Ended December 31, 20Y4 Cash flows from (used for) operating activities: Cash received from customers1 $ 4,433,760 Cash payments for merchandise2 […]
Accounting Chapter 15 Homework Whitman Co. Spreadsheet (Work Sheet) for Statement of Cash Flows For the Year Ended December 31, 20Y2
CHAPTER 15 Statement of Cash Flows Prob. 15–3A (Concluded) (Optional) Whitman Co. Spreadsheet (Work Sheet) for Statement of Cash Flows For the Year Ended December 31, 20Y2 Account Title Balance, Dec. 31, 20Y1 Transactions Balance, Dec. 31, 20Y2 Debit Credit […]
Accounting Chapter 15 Homework The total amount reported as the net cash flow from operating activities is not affected by the use of the direct or indirect method
CHAPTER 15 STATEMENT OF CASH FLOWS DISCUSSION QUESTIONS 1. It is costly to accumulate the data needed and to prepare the statement of cash flows. 2. It focuses on the differences between net income and cash flows from operating activities, […]
Accounting Chapter 15 Homework National Beverage Co. Cash Flows from Operating Activities he company has positive earnings and positive net cash flow
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Accounting Chapter 15 Homework Shanika Company Income Statement For the Year Ended December 31, 20Y6
An asterisk (*) will appear to the right of an incorrect entry. 1. Work in process inventory, January 1, 20Y6 Direct materials: Cost of direct materials used in production Direct labor Total factory overhead Factory overhead: Total manufacturing costs incurred […]
Accounting Chapter 15 Homework Robstown Corporation Income Statement For the Year Ended December 31, 20Y8
1. An asterisk (*) will appear to the right of an incorrect entry. 0% Cells with non-gray backgrounds are protected and cannot be edited. [Key code here] Answers are entered in the cells with gray backgrounds. Score: Key Code: Instructions […]
Accounting Chapter 15 Homework On Company Statement of Cost of Goods Manufactured For the Month Ended December 31 Direct labor
An asterisk (*) will appear to the right of an incorrect entry. 1. On Company Off Company Materials inventory, December 1 65,800$ 195,300$ Cost of direct materials used in production 317,800 (b) Direct labor 387,800 577,220 Factory overhead 148,400 256,060 […]
Accounting Chapter 15 Homework Yakima Company Statement of Cost of Goods Manufactured For the Month Ended May 31
An asterisk (*) will appear to the right of an incorrect entry. 1. Rainier Company Yakima Company Materials inventory, May 1 100,000$ 48,200$ Materials inventory, May 31 (a) 50,000 Materials purchased 950,000 710,000 Cost of direct materials used in production […]
Accounting Chapter 15 Homework Johnstone Manufacturing Company Statement of Cost of Goods Manufactured For the Month Ended March 31
An asterisk (*) will appear to the right of an incorrect entry. a. Work in process inventory, March 1 Direct materials: Cost of direct materials used in production Direct labor Factory overhead: Total factory overhead Total manufacturing costs incurred during […]
Accounting Chapter 14 Homework Another possible reason for the unsupported relationship is a possible lag time in the relationship
CHAPTER 28 (FIN MAN); CHAPTER 14 (MAN) The Balanced Scorecard and Corporate Social Responsibility Prob. 28–2A (FIN MAN); Prob. 14–2A (MAN) (Concluded) Cost makeup of Procedure 2: Labor (55%) ……………………………………………… $170,500 Materials (25%) ………………………………………… 77,500 Overhead (20%) ……………………………………….. 62,000 Total………………………………………………………… […]
Accounting Chapter 14 Homework People subject to motivated reasoning tend to ignore bad news, rely too heavily on good news, stop gathering information
CHAPTER 28 (FIN MAN); CHAPTER 14 (MAN) THE BALANCED SCORECARD AND CORPORATE SOCIAL RESPONSIBILITY DISCUSSION QUESTIONS 1. A strategic performance measurement system defines and links strategic objectives to the performance metrics that a company uses. This system helps a company […]
Accounting Chapter 13 Homework The company could improve the process by changing the layout from a process orientation to a product orientation
CHAPTER 27 (FIN MAN); CHAPTER 13 (MAN) Lean Manufacturing and Activity Analysis Prob. 27–2B (FIN MAN); Prob. 13–2B (MAN) 1. Value-added time: Stamping ……………………………………………………………………… 5 min. Appliance assembly ………………………………………………………. 22 Time to test one unit ……………………………………………………… 8 Pack and shipment […]
Accounting Chapter 13 Homework there is some room for improvement, the company appears to be effectively managing its quality activities
CHAPTER 27 (FIN MAN); CHAPTER 13 (MAN) Lean Manufacturing and Activity Analysis Ex. 27–18 (FIN MAN); Ex. 13–18 (MAN) (Concluded) d. The reports indicate that Three Rivers Inc.’s total costs of quality are 25.1% of total sales. In addition, 54.0% […]
Accounting Chapter 13 Homework The lean philosophy focuses on reducing time, cost, and poor quality within manufacturing and nonmanufacturing processes
CHAPTER 27 (FIN MAN); CHAPTER 13 (MAN) LEAN MANUFACTURING AND ACTIVITY ANALYSIS DISCUSSION QUESTIONS 1. The lean philosophy focuses on reducing time, cost, and poor quality within manufacturing and nonmanufacturing processes. 2. Move time and wait time in inventory are […]
Accounting Chapter 12 Homework the lower net present values at a 15% desired rate of return make investing in the equipment less attractive
CHAPTER 26 (FIN MAN); CHAPTER 12 (MAN) Capital Investment Analysis Prob. 26–6B (FIN MAN); Prob. 12–6B (MAN) (Continued) 3. Of the four proposed investments, only Proposals B and D meet the company’s requirements, as the following table indicates: Cash Payback […]
Accounting Chapter 12 Homework The net present value, present value index, and internal rate of return all indicate that the biofuel equipment
CHAPTER 26 (FIN MAN); CHAPTER 12 (MAN) Capital Investment Analysis Prob. 26–4A (FIN MAN); Prob. 12–4A (MAN) 1. a. Wind Turbines: Annual net cash flow (at the end of each of 4 years) ………………….. $ 280,000 Present value of an […]
Accounting Chapter 12 Homework The principal limitations of the cash payback method are its failure to consider cash flows occurring after the payback
CHAPTER 26 (FIN MAN); CHAPTER 12 (MAN) CAPITAL INVESTMENT ANALYSIS DISCUSSION QUESTIONS 1. The principal objections to the use of the average rate of return method are its failure to consider the expected cash flows from the proposals and the […]
Accounting Chapter 11 Homework The new ticket plan will produce a positive contribution margin per flight and should be implemented based on these assumptions
CHAPTER 25 (FIN MAN); CHAPTER 11 (MAN) Differential Analysis and Product Pricing Appendix Prob. 25–6B (FIN MAN); Appendix Prob. 11–6B (MAN) 1. $60,000 ($600,000 × 10%) 2. a. Total manufacturing costs: Variable ($52* × 10,000 units) ………………………………………………….. $520,000 Fixed factory […]
Accounting Chapter 11 Homework Depreciation is ignored because it is a sunk cost for the old machine and is incorporated in the purchase
CHAPTER 25 (FIN MAN); CHAPTER 11 (MAN) Differential Analysis and Product Pricing Ex. 25–20 (FIN MAN); Ex. 11–20 (MAN) Determine the contribution margin per furnace hour as follows: Type 5 Type 10 Type 20 Revenues …………………………………. $ 43,000 $ 49,000 […]
Accounting Chapter 11 Homework In setting prices, managers should also consider such factors as the prices of competing products and the general economic
CHAPTER 25 (FIN MAN); CHAPTER 11 (MAN) DIFFERENTIAL ANALYSIS AND PRODUCT PRICING DISCUSSION QUESTIONS 1. a. Differential revenue is the amount of increase or decrease in revenue expected from a particular course of action compared with an alternative. b. Differential […]
Accounting Chapter 10 Homework On the basis of residual income, the Mountain Bike Division is the more profitable of the two divisions
CHAPTER 24 (FIN MAN); CHAPTER 10 (MAN) Evaluating Decentralized Operations Prob. 24–5B (FIN MAN); Prob. 10–5B (MAN) (Concluded) 4. On the basis of operating income, the Road Bike Division generated $49,600 ($172,800 – $123,200) more operating income than did the […]
Accounting Chapter 10 Homework Per dollar of invested assets, the Snack Cake Division is the most profitable of the three divisions
CHAPTER 24 (FIN MAN); CHAPTER 10 (MAN) Evaluating Decentralized Operations Prob. 24–3A (FIN MAN); Prob. 10–3A (MAN) (Concluded) 3. Per dollar of invested assets, the Snack Cake Division is the most profitable of the three divisions. Assuming that the returns […]
Accounting Chapter 10 Homework When unused capacity exists in the supplying division, the negotiated price approach is preferred over the market price approach
CHAPTER 24 (FIN MAN); CHAPTER 10 (MAN) EVALUATING DECENTRALIZED OPERATIONS DISCUSSION QUESTIONS 1. In a centralized operation, all major planning and operating decisions are made by top management. In a decentralized operation, managers of separate divisions or units are delegated […]
Accounting Chapter 9 Homework The fluctuation in market prices caused the direct material price variances. Prices increased for natural oils
CHAPTER 23 (FIN MAN); CHAPTER 9 (MAN) Evaluating Variances from Standard Costs COMPREHENSIVE PROBLEM 5 (Continued) Part B 5. Genuine Spice Inc. Production Budget For the Month Ended August 31 Cases Expected cases to be sold 1,500 Desired ending inventory […]
Accounting Chapter 9 Homework The direct labor cost variance for paying the bonus was $679 unfavorable which is the sum of the time variance
CHAPTER 23 (FIN MAN); CHAPTER 9 (MAN) Evaluating Variances from Standard Costs Prob. 23–4A (FIN MAN); Prob. 9–4A (MAN) (Concluded) Alternative Computation of Overhead Variances *$67,200 ÷ 8,400 hrs. = $8.00 $71,400 ÷ 8,400 hrs. = $8.50 23–41 © 2020 […]
Accounting Chapter 9 Homework In this way, spending from volume changes can be separated from efficiency and price variances
CHAPTER 23 (FIN MAN); CHAPTER 9 (MAN) Evaluating Variances from Standard Costs Ex. 23–16 (FIN MAN); Ex. 9–16 (MAN) a. Controllable variance: Actual variable factory overhead ($725,000 – $262,500) ………………………. $ 462,500 Standard variable factory overhead at actual production: Standard […]
Accounting Chapter 9 Homework No. Even though the assembly workers are covered by union contracts, direct labor cost variances still might result
CHAPTER 23 (FIN MAN); CHAPTER 9 (MAN) EVALUATING VARIANCES FROM STANDARD COSTS DISCUSSION QUESTIONS 1. Standards are performance goals. Manufacturing companies normally use standard cost for each of the three following product costs: • Direct materials • Direct labor • […]
Accounting Chapter 8 Homework the cash balance will exceed the minimum desired balance, and the excess could be considered for temporary investment
CHAPTER 22 (FIN MAN); CHAPTER 8 (MAN) Budgeting Prob. 22–3B (FIN MAN); Prob. 8–3B (MAN) (Continued) 4. Gold Medal Athletic Co. Direct Labor Cost Budget For the Month Ending March 31 Molding Department Assembly Department Total Hours required for production: […]
Accounting Chapter 8 Homework The budget indicates that the minimum cash balance will not be maintained in November
CHAPTER 22 (FIN MAN); CHAPTER 8 (MAN) Budgeting Prob. 22–3A (FIN MAN); Prob. 8–3A (MAN) 1. Birding Homes & Feeders Inc. Sales Budget For the Month Ending January 31 Unit Sales Volume Unit Selling Price Total Sales Bird house 15,000 […]
Accounting Chapter 8 Homework Conflicting goals can cause employees or department managers to act in their own self- interests to the detriment of the organization’s objectives
CHAPTER 22 (FIN MAN); CHAPTER 8 (MAN) BUDGETING DISCUSSION QUESTIONS 1. The three major objectives of budgeting are (1) to establish specific goals for future operations, (2) to execute plans to achieve the goals, and (3) to periodically compare actual […]
Accounting Chapter 7 Homework Other factors that should be considered in evaluating the performance of salespersons include rate of growth
CHAPTER 21 (FIN MAN); CHAPTER 7 (MAN) Variable Costing for Management Analysis Prob. 21–3B (FIN MAN); Prob. 7–3B (MAN) (Concluded) b. Head Gear Inc. Variable Costing Income Statement For the Month Ended August 31 Sales $104,000 Variable cost of goods […]
Accounting Chapter 7 Homework A short train costs nearly as much fuel and crewing costs as does a longer train
CHAPTER 21 (FIN MAN); CHAPTER 7 (MAN) Variable Costing for Management Analysis Ex. 21–17 (FIN MAN); Ex. 7–17 (MAN) a. East Coast Railroad Company Contribution Margin by Route For the Month Ended April 30 Atlanta/ Baltimore Baltimore/ Pittsburgh Pittsburgh/ Atlanta […]
Accounting Chapter 7 Homework Manufacturing more than expected sales will have the effect of increasing operating income under the absorption costing concept
CHAPTER 21 (FIN MAN); CHAPTER 7 (MAN) VARIABLE COSTING FOR MANAGEMENT ANALYSIS DISCUSSION QUESTIONS 1. a. Under absorption costing, both variable and fixed manufacturing costs are included as a part of the cost of the product manufactured. b. Under variable […]
Accounting Chapter 6 Homework The break-even point is higher in scenario 2 because the mix changes to be less weighted toward
CHAPTER 20 (FIN MAN); CHAPTER 6 (MAN) Cost-Volume-Profit Analysis Prob. 20–4B (FIN MAN); Prob. 6–4B (MAN) (Continued) 2. (a) 4,500 units (b) 7,500 units Sales …………………………………………………………… $ 900,000 $ 1,500,000 Variable costs ……………………………………………… $(562,500) $ (937,500) Fixed costs ………………………………………………….. (225,000) […]
Accounting Chapter 6 Homework The company should determine the sales potential if the additional product is produced and then evaluate is produced and then evaluate
CHAPTER 20 (FIN MAN); CHAPTER 6 (MAN) Cost-Volume-Profit Analysis Prob. 20–4A (FIN MAN); Prob. 6–4A (MAN) 1. 20–21 © 2020 Cengage Learning, Inc. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or […]
Accounting Chapter 6 Homework Fixed cost per unit decreases as the activity level increases and increases as the activity level decreases
CHAPTER 20 (FIN MAN); CHAPTER 6 (MAN) COST-VOLUME-PROFIT ANALYSIS DISCUSSION QUESTIONS 1. Total variable costs change in proportion to changes in the level of activity. Unit variable costs remain the same regardless of the level of activity. 2. a. Variable […]
Accounting Chapter 5 Homework Given this discrepancy, considering whether the amount of watering is an appropriate weight factor is important weight factor is important
CHAPTER 19 (FIN MAN); CHAPTER 5 (MAN) Support Department and Joint Cost Allocation Prob. 19–3A (FIN MAN); Prob. 5–3A (MAN) 1. Joint Product Bottles per Batch Market Value per Bottle at Split-Off Total Market Value at Split-Off Percent of Total […]
Accounting Chapter 5 Homework Support department costs are only indirectly related to production, so it can be difficult to find an appropriate cost driver for applying
CHAPTER 19 (FIN MAN); CHAPTER 5 (MAN) SUPPORT DEPARTMENT AND JOINT COST ALLOCATION DISCUSSION QUESTIONS 1. Support department costs are only indirectly related to production, so it can be difficult to find an appropriate cost driver for applying these costs […]
Accounting Chapter 4 Homework The activity-based overhead allocation reveals that loudspeakers are more costly on a per-unit basis than are the receivers
CHAPTER 18 (FIN MAN); CHAPTER 4 (MAN) Activity-Based Costing Prob. 18–1B (FIN MAN); Prob. 4–1B (MAN) 1. a. Direct labor overhead rate: $299,700 1,620 direct labor hours = $185 per direct labor hour b. Machine hour overhead rate: $299,700 2,700 […]
Accounting Chapter 4 Homework The selling and administrative expenses should not be allocated on the basis of relative sales dollars
CHAPTER 18 (FIN MAN); CHAPTER 4 (MAN) Activity-Based Costing Ex. 18–17 (FIN MAN); Ex. 4–17 (MAN) The selling and administrative expenses should not be allocated on the basis of relative sales dollars. The two product lines have very different attributes. […]
Accounting Chapter 4 Homework A single plantwide overhead rate will provide accurate product costing if products use production department activity-base quantities
CHAPTER 18 (FIN MAN); CHAPTER 4 (MAN) ACTIVITY-BASED COSTING DISCUSSION QUESTIONS 1. Management desires accurate product costs so that its decisions regarding products are correct. Managers are concerned about the accuracy of product costs, which are used for decisions such […]
Accounting Chapter 3 Homework Equivalent units of production are calculated when there are beginning or ending inventories that are partially completed
CHAPTER 17 (FIN MAN); CHAPTER 3 (MAN) Process Cost Systems Ex. 17–18 (FIN MAN); Ex. 3–18 (MAN) a. 1. Work in Process—Casting Department 350,000 Materials—Alloy 350,000 2. Work in Process—Casting Department 49,600 Wages Payable 19,840 Factory Overhead* 29,760 * $19,840 […]
Accounting Chapter 3 Homework These increases should be investigated for their underlying causes, and any necessary corrective actions should be taken
CHAPTER 17 (FIN MAN); CHAPTER 3 (MAN) Process Cost Systems Prob. 17–4B (FIN MAN); Prob. 3–4B (MAN) (Continued) 2. Pittsburgh Aluminum Company Cost of Production Report—Rolling Department For the Month Ended October 31 UNITS Whole Units Equivalent Units Direct Materials […]
Accounting Chapter 3 Homework The cost of production report may be used as the basis for allocating product costs between Work in Process and Finished Goods
CHAPTER 17 (FIN MAN); CHAPTER 3 (MAN) Process Cost Systems Prob. 17–4A (FIN MAN); Prob. 3–4A (MAN) (Continued) Hearty Soup Co. Cost of Production Report—Filling Department For the Month Ended April 30 UNITS Whole Units Equivalent Units Direct Materials (a) […]
Accounting Chapter 3 Homework A job order cost system is best suited for an automobile repair shop because costs can be reasonably identified with each job
CHAPTER 17 (FIN MAN); CHAPTER 3 (MAN) PROCESS COST SYSTEMS DISCUSSION QUESTIONS 1. a. An assembly-type industry using mass production methods, such as TV assembly, would use the process cost system because the products are somewhat standard and lose their […]
Accounting Chapter 2 Homework The materials, stamping, and factory overhead have already been applied to the 25,000 units
CHAPTER 16 (FIN MAN); CHAPTER 2 (MAN) Job Order Costing Prob. 16–5A (FIN MAN); Prob. 2–5A (MAN) 1. Ginocera Inc. Income Statement For the Year Ended December 31, 20Y8 Sales $ 17,920,000 Cost of goods sold (10,864,000) Gross profit $ […]
Accounting Chapter 2 Homework The job order system is frequently associated with firms that will produce a product or service specifically to a customer order system is frequently associated with firms that will produce a product or service specifically to a customer order
CHAPTER 16 (FIN MAN); CHAPTER 2 (MAN) JOB ORDER COSTING DISCUSSION QUESTIONS 1. a. Job order cost system and process cost system. b. The job order cost system provides a separate record of each quantity of product that passes through […]
Accounting Chapter 2 Homework the material cost per unit for dining tables deviated to the high side relative to the other two styles, beyond the increased cost of lumber
CHAPTER 16 (FIN MAN); CHAPTER 2 (MAN) Job Order Costing MAD 16–3 (FIN MAN); MAD 2–3 (MAN) a. The first item to note is that the cost did not go up due to any increases in the cost of labor […]