# Managerial Accounting

Topics: Inventory, Balance sheet, Manufacturing Pages: 54 (10473 words) Published: December 3, 2012
CHAPTER 1
Managerial Accounting
ASSIGNMENT CLASSIFICATION TABLE
Brief Exercises 1 A Problems B Problems

Study Objectives *1. Explain the distinguishing features of managerial accounting. Identify the three broad functions of management. Define the three classes of manufacturing costs. Distinguish between product and period costs. Explain the difference between a merchandising and a manufacturing income statement. Indicate how cost of goods manufactured is determined. Explain the difference between a merchandising and a manufacturing balance sheet. Identify trends in managerial accounting. Prepare a worksheet and closing entries for a manufacturing company.

Questions 1, 2, 3

Do It! 1

Exercises 1

*2.

4, 5, 6, 7, 8 11, 12

2, 3

1

*3.

4, 5, 7

2

2, 3, 4, 5, 6 3, 4, 5, 7, 13 8, 12, 13, 14, 15, 17

1A, 2A

1B, 2B

*4.

13

6

2

1A, 2A

1B, 2B

*5.

9, 14

3A, 4A, 5A

3B, 4B, 5B

*6.

15, 16, 17, 18

8, 10, 11

3

8, 9, 10, 11, 12, 13, 14, 15, 16, 17 14, 15, 16, 17

3A, 4A, 5A

3B, 4B, 5B

*7.

10, 19, 20, 21

9

3A, 4A

3B, 4B

*8.

22, 23, 24 25, 26 27, 28, 29 12

4

18

*9.

19

6A

*Note: All asterisked Questions, Exercises, and Problems relate to material contained in the appendix to the chapter.

Weygandt, Managerial Accounting, 5/e, Solutions Manual

(For Instructor Use Only)

1-1

ASSIGNMENT CHARACTERISTICS TABLE
Problem Number 1A Difficulty Level Simple Time Allotted (min.) 20–30

Description Classify manufacturing costs into different categories and compute the unit cost. Classify manufacturing costs into different categories and compute the unit cost. Indicate the missing amount of different cost items, and prepare a condensed cost of goods manufactured schedule, an income statement, and a partial balance sheet. Prepare a cost of goods manufactured schedule, a partial income statement, and a partial balance sheet. Prepare a cost of goods manufactured schedule and a correct income statement. Complete a worksheet; prepare a cost of goods manufactured schedule, an income statement, and a balance sheet; journalize and post the closing entries. Classify manufacturing costs into different categories and compute the unit cost. Classify manufacturing costs into different categories and compute the unit cost. Indicate the missing amount of different cost items, and prepare a condensed cost of goods manufactured schedule, an income statement, and a partial balance sheet. Prepare a cost of goods manufactured schedule, a partial income statement, and a partial balance sheet. Prepare a cost of goods manufactured schedule and a correct income statement.

2A

Simple

20–30

3A

Moderate

30–40

4A

Moderate

30–40

5A

Moderate

30–40

*6A

Complex

40–50

1B

Simple

20–30

2B

Simple

20–30

3B

Moderate

30–40

4B

Moderate

30–40

5B

Moderate

30–40

1-2

Weygandt, Managerial Accounting, 5/e, Solutions Manual

(For Instructor Use Only)

Correlation Chart between Bloom’s Taxonomy, Study Objectives and End-of-Chapter Exercises and Problems Knowledge Application Analysis Synthesis Evaluation

Study Objective * 1. Explain the distinguishing features of managerial accounting.

* 2. Identify the three broad functions of management.

BLOOM’S TAXONOMY TABLE

* 3. Define the three classes of manufacturing costs. Q1-11 P1-2B

E1-4 E1-5 E1-6 P1-1B P1-2B

P1-1A P1-2A P1-1B

* 4. Distinguish between product and period costs.

Comprehension Q1-1 BE1-1 Q1-2 DI1-1 Q1-3 E1-1 Q1-4 Q1-8 Q1-5 BE1-2 Q1-6 BE1-3 Q1-7 DI1-1 Q1-12 DI1-2 BE1-4 E1-2 BE1-5 E1-3 BE1-7 Q1-13 E1-3 BE1-6 DI1-2 Q1-9 Q1-14 E1-15 P1-5B E1-15 E1-4 E1-5 E1-7 E1-8 E1-12 E1-13 Q1-15 Q1-16 Q1-17 Q1-18 BE1-8 BE1-10 BE1-11 BE1-9 E1-14 E1-16 E1-13 P1-1A P1-2A...