Sm Ch 16 Essay

9239 WordsDec 27, 201437 Pages
CHAPTER 16 MANAGEMENT ACCOUNTING: A BUSINESS PARTNER OVERVIEW OF BRIEF EXERCISES, EXERCISES, PROBLEMS, AND CRITICAL THINKING CASES Brief Exercises B. Ex. 16.1 B. Ex. 16.2 B. Ex. 16.3 B. Ex. 16.4 B. Ex. 16.5 B. Ex. 16.6 B. Ex. 16.7 B. Ex. 16.8 B. Ex. 16.9 Topic Product vs. period costs Direct material used Cost of goods sold Materials inventory Direct labor journal entries Manufacturing overhead assigned Inventory balances Work in process balances Prime vs. conversion costs B. Ex. 16.10 Partial balance sheet Exercises 16.1 16.2 16.3 16.4 16.5 16.6 Topic Accounting terminology Basic types of manufacturing costs Product and period costs Flow of costs through manufacturing accounts Schedule of cost of finished goods manufactured Flow of…show more content…
20 Easy 16.2 A,B Road Warrior Corporation/River Queen Corporation A short problem illustrating the flow of product costs through the financial statements of a manufacturing company. 15 Easy 16.3 A,B Superior Locks, Inc./ISP, Inc. Presented with an illustration of T accounts for a manufacturing company, students are asked to identify important cost flows and make computations illustrating key relationships. An excellent first i t Double Bar Corporation/Payback Corporation A short problem that effectively acquaints students with the flow of manufacturing costs through perpetual inventory accounts. 20 Easy 16.5 A,B Anditon Manufacturing/Valleyview Manufacturing A short but comprehensive problem on the flow of manufacturing costs through perpetual inventory records. Also requires preparation of a schedule of the cost of finished goods manufactured. 35 Medium 16.6 A,B Kitchen Gadget Co./Columbus Toy Co. Prepare a schedule of the cost of finished goods manufactured, determine the cost of goods sold and ending inventory, and explain the “flow” of product costs. 35 Strong 16.7 A,B Idaho Paper Co./Cedar Company Prepare a schedule of the cost of finished goods manufactured and determine the manufacturing cost per unit. Use the unit cost information to determine the ending inventory of finished goods and cost of goods sold on a FIFO basis. 25 Medium 16.4 A,B 20 Easy Copyright © 2015 McGraw-Hill Education. All rights reserved. No
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