Archives: Solution Manual
978-0078025600 Chapter 21 Lecture Note
Chapter 21 Flexible Budgets and Standard Costing Chapter 21 Flexible Budgets and Standard Costing Related Assignment Materials Student Learning Objectives Discussion Questions Quick Studies* Exercises* Problems* Beyond the Numbers Conceptual objectives: C1. Define standard costs and explain how standard cost […]
978-0078025600 Chapter 21 Excel
Student Name: Class: Units Cost Total 1,615,000 $4.10 $6,621,500 1,620,000 $4.00 6,480,000 $141,500 U Direct material cost variance Correct! Yes! Units Price Total 1,615,000 $4.10 $6,621,500 1,615,000 $4.00 6,460,000 $161,500 U Correct! Yes! 1,615,000 $4.00 $6,460,000 1,620,000 $4.00 6,480,000 $20,000 […]
978-0078025600 Chapter 20 Solution Manual Part 6
Financial & Managerial Accounting, 5th Edition 1162 Problem 20-7B (continued) Part 6 NABAR MANUFACTURING Selling Expense Budgets July, August, and September 2013 July August Sept. Total Budgeted sales ………………………….. $357,000 $323,000 $340,000 Sales commission percent ………….….. x 10% x 10% […]
978-0078025600 Chapter 20 Solution Manual Part 5
Problem 20-3B (Continued) Part 4 Cash payments on product purchases (for March and April) From purchases in Total % Paid March April February ……………………………..…. $261,600 70% $183,120 March ……………………………………. 227,400 30 68,220 ………………………………….…. 70 $159,180 April ………………………………………. 230,400 30 _______ […]
978-0078025600 Chapter 20 Solution Manual Part 4
Financial & Managerial Accounting, 5th Edition 1136 Problem 20-5A (Continued) Part 6 DIMSDALE SPORTS CO. Cash Budgets January, February, and March 2014 January February March Beginning cash balance …………………………….…. $ 36,000 $ 30,100 $210,300 Cash receipts from customers (note A)……………. […]
978-0078025600 Chapter 20 Solution Manual Part 3
Exercise 20–19 (10 minutes) MANNER COMPANY Direct Labor Budget For July, August, and September July August Sept. Budgeted production (units) ……………….… 620 680 540 Labor requirements per unit (hours) ……… x 2 x 2 x 2 Total labor hours needed […]
978-0078025600 Chapter 20 Solution Manual Part 2
Financial & Managerial Accounting, 5th Edition 1106 Exercise 20-2 (concluded) Notes: concluded (5) August beginning inventory Total required (4 above) 355,500 Less budgeted purchases (308,250) August beginning inventory 47,250 (6) August Beginning Inventory = July Ending Inventory (7) July required […]
978-0078025600 Chapter 20 Lecture Note
Chapter 20 Master Budgets and Performance Planning Chapter 20 Master Budgets and performance Planning © 2013 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may […]
978-0078025600 Chapter 20 Excel
Student Name: Class: March April May 25,000 32,000 35,000 30% 30% 30% 7,500 9,600 10,500 15,000 25,000 32,000 22,500 34,600 42,500 (20,000) (7,500) (9,600) 2,500 27,100 32,900 Correct! Correct! Correct! March April May 90,000 95,000 90,000 30% 30% 30% 27,000 […]
978-0078025600 Chapter 2 Solution Manual Part 4
Financial & Managerial Accounting, 5th Edition 102 Problem 2-3B (90 minutes) Part 1 Sept. 1 Cash …………………………………………………. 101 38,000 Office Equipment ………………………………. 163 15,000 Common Stock…………………………… 307 53,000 Owner invested in the business for stock. 2 Prepaid Rent …………………………………….. 131 […]
978-0078025600 Chapter 2 Solution Manual Part 3
Problem 2-3A (Continued) Accounts Payable Acct. No. 201 Date Explanation PR Debit Credit Balance April 3 G1 11,600 11,600 13 G1 11,600 0 29 G1 600 600 Common Stock Acct. No. 307 Date Explanation PR Debit Credit Balance April 1 […]
978-0078025600 Chapter 2 Solution Manual Part 2
Financial & Managerial Accounting, 5th Edition 72 Exercise 2-17 (15 minutes) (a) (b) (c) (d) Answers $(28,000) $42,000 $73,000 $(45,000) Computations: Equity, Dec. 31, 2012 ………….. $ 0 $ 0 $ 0 $ 0 Owner’s investments …..…….. 110,000 42,000 87,000 […]
978-0078025600 Chapter 2 Solution Manual Part 1
Chapter 2 Analyzing and Recording Transactions QUESTIONS 1. a. Common asset accounts: cash, accounts receivable, notes receivable, prepaid expenses (rent, insurance, etc.), office supplies, store supplies, equipment, building, and land. b. Common liability accounts: accounts payable, notes payable, and unearned […]
978-0078025600 Chapter 2 Lecture Note Part 2
Chapter 02 – Analyzing and Recording Transactions Chapter Outline Notes e. Verify that each journal entry is properly posted. f. Verify that the original journal entry has equal debits and credits. 2. If an error in a journal entry is […]
978-0078025600 Chapter 2 Lecture Note Part 1
Chapter 02 – Analyzing and Recording Transactions Chapter 02 Analyzing and Recording Transactions Student Learning Objectives and Related Assignment Materials* Student Learning Objectives Discussion Questions Quick Studies Exercises Problems (A &B set)** Beyond the Numbers Conceptual objectives: C1. Explain the […]
978-0078025600 Chapter 2 Excel
Student Name: Class: Date Explanation Debit Credit Mar 1 150,000 22,000 172,000 «- Correct! 26,000 6,000 «- Correct! 33,000 1,200 4,200 «- Correct! 64,000 4,000 «- Correct! 97,500 7,500 «- Correct! 12 4,200 4,200 «- Correct! 19 5,000 5,000 «- […]
978-0078025600 Chapter 19 Solution Manual Part 3
Problem 19-2B (20 minutes) Memo to: Roberta Azule, President Subject: Break-even volume and absorption costing Break-even analysis is computed using a contribution margin approach. The contribution margin approach assumes that all fixed expenses – including fixed manufacturing expenses – are […]
978-0078025600 Chapter 19 Solution Manual Part 2
Financial & Managerial Accounting, 5th Edition 1070 Exercise 19-7 (10 minutes) Memo to: Manager, MidCoast Airlines Subject: International student group Assuming that the fixed costs identified by MidCoast Airlines are allocated over all passengers and not direct costs to the […]
978-0078025600 Chapter 19 Solution Manual Part 1
Chapter 19 Variable Costing and Performance Reporting QUESTIONS 1. Variable costing includes direct materials, direct labor, and variable overhead as product costs. Fixed overhead is treated as a period cost and is not included as a product cost. 2. Absorption […]
978-0078025600 Chapter 19 Lecture Note
Chapter 19 Variable Costing and Performance Reporting Chapter 19 Variable Costing and Performance Reporting © 2013 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may […]
978-0078025600 Chapter 18 Solution Manual Part 4
Financial & Managerial Accounting, 5th Edition 1046 Problem 18-7B (50 minutes) Part 1 BREAK–EVEN ANALYSIS ASSUMING USE OF SAME MATERIALS Step 1: Compute break-even in composite units—Use equation in Exhibit 18.27 Break-even in composite units = Fixed costs/Contribution margin per […]
978-0078025600 Chapter 18 Solution Manual Part 3
PROBLEM SET B Problem 18-1B (25 minutes) Parts 1 and 2 Gilmore Company Contribution Margin Income Statement For Year Ended December 31, 2013 (12,000 units) Per unit % of sales Sales ($18 x 12,000) ………………….……. $216,000 $18.000 100.00% Variable costs […]
978-0078025600 Chapter 18 Solution Manual Part 2
Financial & Managerial Accounting, 5th Edition 1022 Exercise 18-17 (25 minutes) 1. Selling price per composite unit 8 windows @ $200 per unit ……………………………………………………… $1,600 2 doors @ $500 per unit ………………………………………………………….. 1,000 Selling price per composite unit ……………………………………………… $2,600 […]
978-0078025600 Chapter 12 Solution Manual Part 4
Financial & Managerial Accounting, 5th Edition 710 Problem 12-7B (35 minutes) SALT LAKE COMPANY Cash Flows from Operating Activities—Indirect Method For Year Ended December 31, 2013 Cash flows from operating activities Net income ………………………………………………………………….… $ 20,000 Adjustments to reconcile net […]
978-0078025600 Chapter 12 Solution Manual Part 1
Chapter 12 Reporting and Analyzing Cash Flows QUESTIONS 1. The purpose of the cash flow statement is to report all major cash receipts (inflows) and cash payments (outflows) during a period. It helps users to answer questions such as: • […]
978-0078025600 Chapter 12 Excel
Student Name: Class: 136,000$ (12,000) (75,000) 16,000 3,000 54,000 122,000$ «- Correct! (36,000) «- Correct! 60,000 (89,000) (29,000) «- Correct! 57,000$ «- Correct! 107,000 «- Correct! 164,000$ «- Correct! Problem 12-04A McGraw-Hill/Irwin Instructor For Year Ended December 31, 2013 Statement […]
978-0078025600 Chapter 11 Solution Manual Part 3
Problem 11-2B (Concluded) Part 2 BALTHUS CORP. Statement of Retained Earnings For Year Ended December 31, 2014 Retained earnings, December 31, 2013 ………………………. $2,160,000 Plus net income ………………………………………………………… 1,072,000 3,232,000 Less: Cash dividends declared …………………………………. (740,000) Treasury stock reissuances …………………………….. […]
978-0078025600 Chapter 11 Solution Manual Part 1
Chapter 11 Corporate Reporting and Analysis QUESTIONS 1. Organization expenses (costs) are incurred in creating a corporation. Examples include: legal fees, promoter fees, accountant fees, costs of printing stock certificates, and fees paid to obtain a state charter. 2. Organization […]
978-0078025600 Chapter 10 Lecture Note Part 1
Chapter 10 – Long-Term Liabilities Chapter 10 Long-Term Liabilities Student Learning Objectives and Related Assignment Materials* Student Learning Objectives Discussion Questions Quick Studies Exercises Problems (A &B set)** Beyond the Numbers Conceptual objectives: C1. Explain the types and payment patterns […]
978-0078025600 Appendix E Lecture Note Part 5
Problem E-4BA (Continued) Parts 2 and 3—continued ACCOUNTS RECEIVABLE LEDGER Ruth Blake Date Explanation PR Debit Credit Balance July 6 S3 7,500 7,500 16 R3 7,500 0 29 S3 17,500 17,500 Ashton Moore Date Explanation PR Debit Credit Balance July […]
978-0078025600 Appendix E Lecture Note Part 3
Problem E- 4AA (Continued) Parts 2 and 3—continued ACCOUNTS RECEIVABLE LEDGER Page Alistair Date Explanation PR Debit Credit Balance Apr. 3 S3 4,000 4,000 13 R3 4,000 0 13 S3 5,100 5,100 23 R3 5,100 0 Paula Kohr Date Explanation […]
978-0078025600 Appendix E Lecture Note Part 2
Problem E-1A (Continued) Parts 2 and 3 GENERAL LEDGER Cash Acct. No. 101 Date Explanation PR Debit Credit Balance Mar. 31 85,000 Apr. 30 R3 213,863 298,863 Accounts Receivable Acct. No. 106 Date Explanation PR Debit Credit Balance Apr. 30 […]
978-0078025587 Chapter 4 Solution Manual Part 5
Problem 4-2B (Concluded) Office Supplies Expense Acct. No. 650 Date Explanation PR Debit Credit Balance July 31 Adjusting 875 875 31 Closing 875 0 Repairs Expense Acct. No. 684 Date Explanation PR Debit Credit Balance July 29 950 950 31 […]
978-0078025600 Chapter 18 Solution Manual Part 1
Chapter 18 Cost Behavior and Cost-Volume-Profit Analysis QUESTIONS 1. A variable cost is one that varies proportionately with the volume of activity. For example, direct materials and direct labor (when the workers are paid for completed units) are treated as […]
978-0078025600 Chapter 18 Lecture Note
Chapter 18 Cost Behavior and Cost-Volume-Profit Analysis Chapter 18 Cost Behavior and Cost-Volume-Profit Analysis © 2013 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may […]
978-0078025600 Chapter 18 Excel
Student Name: Class: 270,000$ «- Correct! 60$ «- Correct! 4,500 «- Correct! 270,000$ «- Correct! 30.00% «- Correct! 900,000$ «- Correct! 900,000$ «- Correct! 630,000 «- Correct! 270,000$ «- Correct! 270,000 «- Correct! $0 «- Correct! Contribution margin ratio Fixed […]
978-0078025600 Chapter 17 Solution Manual Part 4
Serial Problem — SP 17 1. Setting up machines Batch level Inspecting components Unit level Providing utilities Facility level 2. Direct materials $2,500 Direct labor 3,500 Overhead (50% of DL) 1,750 Total mfg. cost $7,750 3. Setting up machines $20,000/25 […]
978-0078025600 Chapter 17 Solution Manual Part 3
Problem 17-1B (concluded) 3. Eng. support $56,250/(50 + 25) modifications = $750/modification Electricity $112,500/150,000* machine hours = $0.75/machine hour Setup $41,250/(175 + 75) batches = $165/batch * From part 1 Standard Deluxe Engineering 50 mods. x $750 $37,500 25 mods. […]
978-0078025600 Chapter 17 Solution Manual Part 2
Financial & Managerial Accounting, 5th Edition 976 Exercise 17-12 (35 minutes) 1. Total direct labor hours: Product A: 10,000 units x 0.20 DLH/unit = 2,000 DLH Product B: 2,000 units x 0.25 DLH/unit = 500 DLH Total direct labor hours […]
978-0078025600 Chapter 17 Solution Manual Part 1
Chapter 17 Activity-Based Costing and Analysis QUESTIONS 1. Manufacturing overhead costs cannot be traced to units of product like direct materials and direct labor. Assigning overhead costs to units of product requires some sort of allocation on some “reasonable” basis. […]
978-0078025600 Chapter 17 Lecture Note
Chapter 17 Activity-Based Costing and Analysis Chapter 17 Activity-Based Costing and Analysis © 2013 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be […]
978-0078025600 Chapter 16 Solution Manual Part 5
Problem 16-8B (Concluded) Part 4 MEMORANDUM TO: FROM: DATE: RE: Percentage of Completion Error Analysis If the units in ending inventory are 75% complete instead of 25% with respect to labor, the number of equivalent units in ending inventory with […]
978-0078025600 Chapter 16 Solution Manual Part 4
Financial & Managerial Accounting, 5th Edition 924 Problem 16-1B (Continued) d. June 30 Factory Payroll ………………………………………….…………. 400,000 Cash ………………………………………………………. 400,000 Incurred payroll cost. e. June 30 Goods in Process Inventory ……………………….…. 350,000 Factory Payroll …………………………………….…………. 350,000 Used direct labor. f. […]
978-0078025600 Chapter 16 Solution Manual Part 3
Problem 16-3A (Concluded) Equivalent units of production Direct Materials Direct Labor Factory Overhead Units completed & transferred out …. 17,000 EUP 17,000 EUP 17,000 EUP Units of ending goods in process Direct materials (5,000 x 100%) …….. 5,000 EUP Direct […]
978-0078025600 Chapter 16 Solution Manual Part 2
Financial & Managerial Accounting, 5th Edition 894 Exercise 16–14 (Concluded) (1) Beginning goods in process $ 17,250 Direct materials $ ? Direct labor 47,250 Factory overhead 51,300 Total costs added ? Total costs in process $242,400 $17,250 + [Total costs […]
978-0078025600 Chapter 16 Lecture Note
Chapter 16 Process Costing and Analysis Chapter 16 Process Costing and Analysis © 2013 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be […]
978-0078025600 Chapter 16 Excel
Student Name: Class: Part 1 (a) and (b) Direct Direct Materials Labor 700,000 700,000 180,000 54,000 880,000 754,000 Correct! Correct! Direct Direct Materials Labor 420,000$ 139,000$ 2,220,000 3,254,000 2,640,000$ 3,393,000$ Correct! Correct! 880,000 754,000 3.00$ 4.50$ Correct! Correct! Direct Direct […]
978-0078025600 Chapter 15 Solution Manual Part 4
866 Financial & Managerial Accounting, 5th Edition Problem 15-4B (35 minutes) Part 1 a. Predetermined overhead rate = = = 50% Estimated overhead costs Estimated direct labor cost $750,000 $750,000 [50 x 2,000 x $15] $1,500,000 b. Overhead costs charged […]
978-0078025600 Chapter 15 Solution Manual Part 3
Problem 15–5A (Continued) GENERAL JOURNAL a. Raw Materials Inventory ……………………………………….. 78,700 Accounts Payable ………………………………………..….. 78,700 To record materials purchases ($62,500+$16,200). d. Factory Payroll ………………………………………………….….. 174,250 Cash ……………………………………………………………….. 174,250 To record factory payroll. Factory Overhead ……………………………………………..….. 102,000 Cash ……………………………………………………………….. 102,000 To […]
978-0078025600 Chapter 15 Solution Manual Part 2
838 Financial & Managerial Accounting, 5th Edition Exercise 15-18 (35 minutes) 1. Estimated cost of the architectural job Labor type Estimated hours Hourly rate Total cost Architects ………………………….. 150 $300 $ 45,000 Staff ………………………….. 300 75 22,500 Clerical ……………………….…. 500 […]