Managerial Accounting (5th Edition)
5th Edition
ISBN: 9780134128528
Author: Karen W. Braun, Wendy M. Tietz
Publisher: PEARSON
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Chapter 2, Problem 2.10SE
Determine total manufacturing
McKay Frames manufactures picture frames. Suppose the company’s January records include the items described below. What is McKay Frames’ total
| Oil for manufacturing equipment | $ 250 |
| Wood for frames | $46,000 |
| Company president’s salary | $26,500 |
| Interest expense | $ 1,500 |
| Plant supervisor s salary | $ 3,100 |
| Depreciation expense on company cars used by sales force | $ 2,100 |
| Plant janitor’s salary | $ 1,800 |
| Plant depreciation expense | $ 6,000 |
| Glue for picture frames | $ 400 |
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INSTRUCTION: Write your answers and solutions in a piece of paper. Submit your answers in Google Classroom viaattachments.LONG PROBLEMConsider the following data of the month for Abdul Production Company: Raw Materials, Beg. P 10,000 Finished Goods, Beg. P 20,000 Work-in-Process, Beg. P 15,000A. Purchased raw material on account P28,500.B. Put material into production: P15,000 of direct material and P3,000 of indirect material.C. Accrued payroll of P90,000, of which 40% was direct labor, 20% was indirect labor, 20% was selling expense, and the remainder wasadministrative expense. Then after, the total payroll was paid.D. Depreciation for the Machinery is P40,000. The Machinery is used by all departments. 50% is used by Production Department, 25% bySales Department, and the remaining is used for administrative purposes.E. Received utility bill for the month amounting to P10,000. 50% is for Production department, 20% is for Sales Department, and 30% foradministrative purposes.F. Paid…
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Manufacturing overhead was estimated to be OMR 400,000 for the year
along with estimated 20,000 direct labor hours. Actual manufacturing
overhead was OMR 415,000, and actual labor hours were 21,000. The
amount credited to the Manufacturing Overhead account would be:
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b. OMR 435,750.
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Od. OMR 420,000.
e. OMR 400,000.
In a job-order costing system, manufacturing overhead applied is recorded
Chapter 2 Solutions
Managerial Accounting (5th Edition)
Ch. 2 - (Learning Objective 1) Which of the following...Ch. 2 - (Learning Objective 2) Which of the following is...Ch. 2 - (Learning Objective 3) A cost that can be traced...Ch. 2 - (Learning Objective 4) Period costs are often...Ch. 2 - (Learning Objective 4) Conversion costs consist of...Ch. 2 - (Learning Objective 4) Which of the following is...Ch. 2 - Prob. 7QCCh. 2 - (Learning Objective 5) Which of the following...Ch. 2 - Prob. 9QCCh. 2 - Prob. 10QC
Ch. 2 - Short Exercises S2-1 Identify types of companies...Ch. 2 - Identify type of company from balance sheets...Ch. 2 - Classify costs by value chain function (Learning...Ch. 2 - Classify costs as direct or indirect (Learning...Ch. 2 - Prime costs Cost objects Product costs Assigned...Ch. 2 - Prob. 2.6SECh. 2 - Classify product costs and period costs (Learning...Ch. 2 - Classify a manufacturers costs (Learning Objective...Ch. 2 - Classify costs incurred by a dairy processing...Ch. 2 - Determine total manufacturing overhead (Learning...Ch. 2 - Prepare a retailers income statement (Learning...Ch. 2 - Compute Cost of Goods Sold for a merchandiser...Ch. 2 - Calculate direct materials used (Learning...Ch. 2 - Compute Cost of Goods Manufactured (Learning...Ch. 2 - Describe other cost terms (Learning Objectives 6...Ch. 2 - Classify costs as fixed or variable (Learning...Ch. 2 - Prob. 2.17SECh. 2 - Classify costs along the value chain for a...Ch. 2 - Classify costs along the value chain for a...Ch. 2 - Value chain and sustainability efforts (Learning...Ch. 2 - Prob. 2.21AECh. 2 - Construct an income statement using product and...Ch. 2 - Work backward to find missing amounts (Learning...Ch. 2 - Prepare a retailers income statement (Learning...Ch. 2 - Compute direct materials used and Cost of Goods...Ch. 2 - Compute Cost of Goods Manufactured and Cost of...Ch. 2 - Continues E2-26A: Prepare income statement...Ch. 2 - Determine whether information is relevant...Ch. 2 - Prob. 2.29AECh. 2 - Classify costs along the value chain for a...Ch. 2 - Classify costs along the value chain for a...Ch. 2 - Value chain and sustainability efforts (Learning...Ch. 2 - Classify and calculate a manufacturers costs...Ch. 2 - Construct an income statement using product and...Ch. 2 - Work backward to find missing amounts (Learning...Ch. 2 - Prob. 2.36BECh. 2 - Compute direct materials used and Cost of Goods...Ch. 2 - Compute Cost of Goods Manufactured and Cost of...Ch. 2 - Continues E2-38B: Prepare income statement...Ch. 2 - Determine whether information is relevant...Ch. 2 - Prob. 2.41BECh. 2 - Classify costs along the value chain (Learning...Ch. 2 - Determine ending inventory balances (Learning...Ch. 2 - Prepare income statements (Learning Objective 5)...Ch. 2 - Prob. 2.45APCh. 2 - Prob. 2.46APCh. 2 - Classify costs along the value chain (Learning...Ch. 2 - Determine ending inventory balances (Learning...Ch. 2 - Prepare income statements (Learning Objective 5)...Ch. 2 - Prob. 2.50BPCh. 2 - Prob. 2.51BPCh. 2 - Calculate operating income (Learning Objective 5)...Ch. 2 - Prob. 2.53ACT
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