MANAGERIAL ACCOUNTING FUND. W/CONNECT
5th Edition
ISBN: 9781259688713
Author: Wild
Publisher: MCG
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Chapter 1, Problem 4PSB
Problem 14-4B Ending inventory computation and evaluation C4
Racer’s Edge makes specialty skates for the ice skating circuit. On December 31,2016, the company had (a) 1,500 skates in finished goods inventory and (b) 2,500 blades at cost of $20 each in raw materials inventory. During 2017. Racer’s purchased 45.000 additional blades at $20 each and manufactured 20.750 pairs of skates.
Required
- Determine the unit and dollar amounts of raw materials inventory in blades at December 31, 2017.
Check (1) Ending (blade) inventory 6,000 units, $120.000
Analysis component
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Question 10
2 pts
Kason, Inc., expects to sell
22,000 pool cues for $12per
unit. Direct materials costs are
$2, direct manufacturing
labor is $4 and manufacturing
overhead is $0.80 per pool cue.
The following inventory levels
apply to 2016:
Beginning Ending
inventory inventory(budgeted).
Direct
24,000
24,000 units
materials units
Work-in-
process O units
O units
inventory
Finished
2,000
goods
2,500 units
units
inventory
Required: On the 2016
budgeted income statement,
what amount will be reported
for cost of goods sold?
Problem 12
Compute the Cost of Goods Sold for 2020 of Pillows Company considering the followinginformation:
Raw materials purchased was P2,500,000 with freight-in of P120,000 Purchase returns was P50,000 and purchase discount is 60% of purchase returns Raw materials beginning was P460,000 Raw materials end was P40,000 more than the beginning inventory Direct labor is P1,000,000 Factory overhead is 50% of direct labor Total goods placed in process is 150% of manufacturing cost WIP, end is 75% of WIP, beg Finished goods beginning balance is lesser by P100,000 than the ending balance whichwas P600,000
Question 2
TikTok Electronics manufactures an aluminium fibre tripod model "TRI-X" which sells for
$1,600. The production cost computed per unit under traditional costing for each model in
2019 was as follows:
Traditional Costing
TRIX
Direct Materials
$700
Direct Labour ($20/hour)
$120
Manufacturing overhead ($38 per DLH)
$228
Total per unit cost
$1. 048
In 2019, TikTok Electronics manufactured 26,000 units of TRI-X. Under traditional costing, the
gross profit on TRI-X was $552 ($1,600-$1,048). Management is considering phasing out TRIX
as it has continuously failed to reach the gross profit target of $600. Before finalizing its
decision, management asks TikTok Electronics management accountant to prepare an
analysis using activity-based costing (ABC). The management accountant accumulates the
following information about overhead for the year ended December 31, 2019.
三
Activity Cost
Cost Drivers
Estimated
Expected Use of
Pools
Overhead
Cost Drivers
Purchasing
Number of
$1,200,000…
Chapter 1 Solutions
MANAGERIAL ACCOUNTING FUND. W/CONNECT
Ch. 1 - Prob. 1MCQCh. 1 - What is Ella Company’s current ratio? a.0.69...Ch. 1 - What is Ella Company’s acid-test ratio? a.2.39...Ch. 1 - What is Ella Company’s debt ratio? a. 25.78% b....Ch. 1 - What is Ella Company’s equity ratio? a.25.78%...Ch. 1 - Describe the managerial accountant’s role in...Ch. 1 - Distinguish between managerial and financial...Ch. 1 - Prob. 3DQCh. 1 - Prob. 4DQCh. 1 - Distinguish between (a) factory overhead and (b)...
Ch. 1 - Prob. 6DQCh. 1 - What product cost is both a prime cost and a...Ch. 1 - Assume that we tour Samsungs factory where it...Ch. 1 - Prob. 9DQCh. 1 - Prob. 10DQCh. 1 - Prob. 11DQCh. 1 - Prob. 12DQCh. 1 - Prob. 13DQCh. 1 - Prob. 14DQCh. 1 - Prob. 15DQCh. 1 - Prob. 16DQCh. 1 - Prob. 17DQCh. 1 - What are the three categories of manufacturing...Ch. 1 - List several examples of factory overhead.Ch. 1 - Prob. 20DQCh. 1 - GOOGLE Prepare a proper title for the annual...Ch. 1 - Prob. 22DQCh. 1 - Prob. 23DQCh. 1 - Prob. 24DQCh. 1 - Prob. 25DQCh. 1 - Prob. 1QSCh. 1 - Prob. 2QSCh. 1 - QS 14-4 Direct and indirect costs C2
Diez Company...Ch. 1 - Classifying product costs C2 Identify each of the...Ch. 1 - QS 14-6 Product and period costs C3
Identify each...Ch. 1 - Prob. 6QSCh. 1 - Prob. 7QSCh. 1 - Prob. 8QSCh. 1 - Prob. 9QSCh. 1 - Prob. 10QSCh. 1 - Prob. 11QSCh. 1 - Prob. 12QSCh. 1 - Prob. 13QSCh. 1 - Prob. 14QSCh. 1 - Both managerial accounting and financial...Ch. 1 - Prob. 2ECh. 1 - Exercise 14-3 Cost classifications for a service...Ch. 1 - Prob. 4ECh. 1 - Prob. 5ECh. 1 - Prob. 6ECh. 1 - Prob. 7ECh. 1 - Using the following data, compute (1) the cost of...Ch. 1 - Exercise 14-9 Preparing financial statements for a...Ch. 1 - Prob. 10ECh. 1 - Prob. 11ECh. 1 - Prob. 12ECh. 1 - Prob. 13ECh. 1 - Prob. 14ECh. 1 - Prob. 15ECh. 1 - Prob. 16ECh. 1 - Exercise 14-17 Lean business practice C6 Many...Ch. 1 - Prob. 1PSACh. 1 - The following calendar year-end information is...Ch. 1 - Using the data Problem 1-2A and the inventory for...Ch. 1 - Nazaros Boot Company makes specialty boots for the...Ch. 1 - Prob. 5PSACh. 1 - Prob. 1PSBCh. 1 - The following calendar year-end information is...Ch. 1 - Using the information from Problem 1-2B and the...Ch. 1 - Problem 14-4B Ending inventory computation and...Ch. 1 - Prob. 5PSBCh. 1 - (This serial problem begins in this chapter and...Ch. 1 - Managerial accounting is more than recording,...Ch. 1 - Prob. 2BTNCh. 1 - Prob. 3BTNCh. 1 - Prob. 4BTNCh. 1 - Prob. 5BTNCh. 1 - The following calendar-year information is taken...Ch. 1 - Eden Full SunSaluter must understand manufacturing...Ch. 1 - Prob. 8BTNCh. 1 - Prob. 9BTN
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