Managerial Accounting (Looseleaf)7th EditionWild Publisher: MCGISBN: 9781260482935
Managerial Accounting (Looseleaf)
Solutions for Managerial Accounting (Looseleaf)
Problem 2MCQ:
What is Ella Company’s current ratio? a.0.69 b.1.31 c.3.88 d.6.69 e.2.39 Use the following...Problem 3MCQ:
What is Ella Company’s acid-test ratio? a.2.39 b.0.69 c.131 d.6.69 e.3.88 Use the following...Problem 4MCQ:
What is Ella Company’s debt ratio? a. 25.78% b. 100.00% c. 74.22% d. 137.78% e. 34.74% Use the...Problem 5MCQ:
What is Ella Company’s equity ratio? a.25.78% b.100.00% c.34.74% d.74.22% e.137.78% Use the...Problem 1DQ:
Describe the managerial accountant’s role in business planning, control, and decision making.Problem 2DQ:
Distinguish between managerial and financial accounting on a. Users and decision makers. b. Purpose...Problem 8DQ:
APPLE Assume that we tour Apple’s factory where it makes iPhones. List three direct costs and three...Problem 18DQ:
What are the three categories of manufacturing costs?Problem 19DQ:
List several examples of factory overhead.Problem 21DQ:
GOOGLE Prepare a proper title for the annual schedule of cost of goods manufactured of Google. Does...Problem 3QS:
Fixed and variable costs C2 Listed below are product costs for production of footballs. Classify...Problem 4QS:
QS 14-4 Direct and indirect costs C2
Diez Company produces sporting equipment, including leather...Problem 5QS:
Classifying product costs C2 Identify each of the following costs as either direct materials (DM),...Problem 6QS:
QS 14-6 Product and period costs C3
Identify each of the following costs as either a product cost...Problem 17QS:
Raw materials inventory management A1 Nestlé reports beginning raw materials inventory of 3,815 and...Problem 1E:
Exercise 14-1 Sources of accounting information C1 Indicate in the following chart the most likely...Problem 3E:
Exercise 14-3 Cost classifications for a service provider C2 Tech Pro offers instructional courses...Problem 4E:
Exercise 14-4 Cost classifications for a service company C2 Listed below are costs of providing and...Problem 9E:
Exercise 14-9 Preparing financial statements for a manufacturer C4 P2 Refer to the data in Exercise...Problem 17E:
Exercise 14-17 Lean business practice C6 Many fast-food restaurants compete on lean business...Problem 3PSB:
Problem 14-3B Schedule of cost of goods manufactured and income statement; analysis of inventories...Problem 4PSB:
Problem 14-4B Ending inventory computation and evaluation C4 Racer’s Edge makes specialty skates for...Problem 2AA:
Both Apple and Google (Alphabet) invest in research and development. Access each company’s 2017...Browse All Chapters of This Textbook
Chapter 1 - Managerial Accounting Concepts And PrinciplesChapter 2 - Job Order Costing And AnalysisChapter 3 - Process Costing And AnalysisChapter 4 - Activity-based Costing And AnalysisChapter 5 - Cost Behavior And Cost-volume-profit AnalysisChapter 6 - Variable Costing And AnalysisChapter 7 - Master Budgets And Performance PlanningChapter 8 - Flexible Budgets And Standard CostsChapter 9 - Performance Measurement And Responsibility AccountingChapter 10 - Relevant Costing For Managerial Decisions
Book Details
Utilizing the managerial chapters of Wild's best-selling, Financial and Managerial Accounting text, Managerial Accounting responds to the market's need for an integrated solution with balanced managerial content that has a corporate approach throughout. Its innovation is reflected in its extensive use of corporate examples, the integration of new technology learning tools, superior end-of-chapter material, and a highly engaging, pedagogical design.
Sample Solutions for this Textbook
We offer sample solutions for Managerial Accounting (Looseleaf) homework problems. See examples below:
Solution: To compute trend percents, base amount is required firstly. Base amount is an amount which...Chapter 1, Problem 9EAccount Balance sheet Income statement Schedule of cost of goods Overhead report Accounts receivable...Given, Raw material purchases are $532,000. Beginning raw materials inventory are $145,500. Formula...1. (a) The cost is the variable costs. Variable cost remains per unit fixed. It increases with...1. (a) The cost is the variable costs. Variable cost remains per unit fixed. It increases with...Option c, $45,000 is correct. Given, Overhead rate is 150 %. Total direct labor cost is $30,000....Computation of total each production cost in April. Details Job 306 ($) Job 307 ($) Job 308 ($)...a Assign direct materials cost to work in process inventory. Date Account Title and Explanation Post...
Job cost sheet for job number 136. Job Number:136 Particular Amount ($) Materials 48,000 Labor...Computation of total each production cost in April. Details Job 114 ($) Job 115 ($) Job 116 ($)...a. To record the entry to assign direct materials cost to work in process inventory. Date Account...Job cost sheet for job number 487. Job Number:487 Particular Amount ($) Materials 30,000 Labor 8,000...a. To record material purchases on credit. Date Account Title and Explanation Post ref Debit ($)...‘Option d: The number of units that could have been started and completed given the cost incurred’...For direct material: Given, Completed goods are 295,000 units. Work in progress is 24,000 units....Number of transferred out goods is 23,000 units. Hence, number of transferred out goods is 23,000...Given, Opening work in process inventory is $435,000. Production cost incurred during the month is...For direct material: Given, Total direct material cost is $2,640,000. Total EUP (Direct Material) is...Given, Work in process (opening) is 37,500 units. Units started and completed this month are 150,000...Given, Opening work in process inventory is $156,000. Production cost incurred during the month is...Given, Work in process (opening) is 62,500 units. Units started and completed this month are 175,000...(a) Date Account Title and Explanation Post ref Debit ($) Credit ($) Raw Material Inventory 125,000...Prepare journal entry. Date Account Title and Explanation Post ref Debit ($) Credit ($) May 31 Raw...Journal entry for process costing. Raw material purchase: Date Account Title and Explanation Post...b. Usually activity based costing system shifts costs from high volume to low volume products due to...Activity rates shown in below table: Activity Budget cost ($) Deluxe model Basic model Total of...Table showing total departmental overhead cost of model 145 and model 212: Activity Overhead rate...Given below is the categorization of overhead activities: Unit level:Activities that are performed...Given below is the table for the calculation of cost of each product line using ABC: Total cost of...Given below is the table for the calculation of plantwide overhead rate: Plantwide overhead rate...Given below is the table for the calculation of plantwide overhead rate: Plantwide overhead rate...Given below is the table for the calculation of plantwide overhead rate: Plantwide overhead rate...Option a, $50 is correct. Given, Selling price of the product is $150 per unit. Variable cost is...Company A a Given, Sales are $208,000. Selling price per unit is $65. Formula to calculate number of...Given, Fixed cost is $250,000. Calculated values, Contribution margin ratio is 20% or 0.2 (from...Product T Given, Fixed cost is $125,000. Calculated values, Contribution margin ratio is 20% or 0.2...(a) Plan 1 Given, Fixed cost is $525,000 ( $200,000+$325,000 ) . Calculated values, Contribution...Given, Fixed cost is $250,000. Calculated values (working note), Unit contribution margin is $122....Given, Fixed cost is $200,000. Calculated values, Contribution margin ratio is 20% or 0.2 (from...Product BB Given, Fixed cost is $100,000. Calculated values, Contribution margin ratio is 20% or 0.2...(a) Existing business strategy Given, Fixed cost is $950,000. Calculated values, Contribution margin...Given, Fixed cost is $270,000. Calculated values (working note), Unit contribution margin is $144....Option c., $14 is the correct answer. Given, Units produced are 1,000. Under variable costs: Direct...S. Company Income Statement (Variable Costing) For the year ended December 31, 2017 Particulars...The income statement of the company under absorption costing is, H.B. Company Income Statement...Given, Direct material per unit is $60 per unit. Direct labor per unit is $22 per unit. Variable...Given, Selling price is $50 per unit. Direct Material is $5 per unit. Direct Labor is $14 per unit....Income statement under absorption costing when 300 workstations are produced is, S.R. Company Income...Option c, production budget is the correct option. c. Production budget is the plan that reports the...Given, September, Production units are 4,600. Raw material required per unit 2 pounds. Opening raw...Given, March, Production units are 3,300. Raw material required per unit 8 pounds. Opening raw...Company A Budgeted Income Statement Particulars July Amount ($) Sales (Given) 1,400,000 Less: Cost...Merchandise Purchase Budget Particulars June Amount ($) July Amount ($) August Amount ($) September...Company C Cash Budget Particulars April Amount ($) May Amount ($) June Amount ($) Beginning cash...Statement that shows the sales budget of Z manufacturing Z Manufacturing Sales Budget Particulars...Statement that shows the sales budget of D Company D Company Sales Budget Particulars January ($)...Given, Second quarter, Sale is 250,000 units. Opening inventory is 8,000 units. Ending inventory is...Statement that shows the Production budget of N manufacturing Table (2)Statement that shows the sales budget of I Incorporation I Incorporation Sales Budget Particulars...Amount of sales a, general and administrative expenses for the fiscal year 2017 and fiscal year 2016...Given, Budgeted production and sales are 24,000 units. Budgeted fixed costs are $300,000. Budgeted...S Company Flexible Budget Performance Report For the year ended 2017 Particulars Flexible Budget ($)...Flexible budget at 6000, 7000 and 8000 units. T Company Flexible Budget For the quarter ended March...The flexible budget for the year ended December 31, 2017. Variable cost ($) Fixed cost ($) Cost...Calculation of the variable cost per unit: Variable overhead cost item Total cost ($) Expected...Given, The actual material used is 1,615,000 lbs. The standard quantity of materials for actual...Given, The actual hours are 265,000. The variable overhead costs are $2,200,000. The standard direct...Variable cost ($) Fixed cost ($) Cost Total Per unit Variable cost: Direct materials 1,200,000 60.00...Calculation of the variable cost per unit: Variable overhead cost item Total cost ($) Expected...Given, The actual material used is 1,000,000 lbs. The standard quantity of materials for actual...Option b, $67,500 is correct. Given, Advertising expense for the year is $150,000. Departmental...Jewelry department: Given, Area occupied by this department is 1,440 square feet. Total area of...Table(1) Hence, total expense distributed among department is $698,000. Working notes: Calculation...Formula to calculate return on investment, Return on investment= Net income Average assets ×100...Sold items: Tails: Given, Total value of tails sold is $23,016. Total values of tails and flakes are...Formula to calculate profit margin, Profit Margin = Net Income Total Revenue ×100...Particulars Amount ($) Amount ($) Amount ($) Amount ($) Clock Mirror Painting Combined Sales(A)...V Company Department Contribution statement Particulars Department A Department B Sales 800,000...S. Company Department Contribution Statement Particulars Video Music Sales 370,500 279,500 Cost of...Option a. The company has produced defective products, so the cost of production is a sunk cost and...Calculate the contribution margin per machine hour for each product as shown below. Contribution...Given below is the three column report for analysis of expenses under elimination of department 200...Prepare the three-column comparative income statement as shown below. Particulars Normal volume New...Calculate the contribution margin per machine hour for each product as shown below. Contribution...Given below is the three column report for analysis of expenses under elimination of department Z of...Option a. Hurdle rate of return can be referred to as a minimum rate that the corporation expects...Given below is the table for the computation of annual expected net cash flows: Annual cash flow...Given below is the table for the computation of annual expected net cash flows: Particulars Project...The net present value of alternative 1 is -$5,921.3.Payback Period Given below is the table for the computation of payback period: Payback period Year...‘Option b’ is the correct answer. Calculate cash flow from operating activity. Given, Net income is...Company Name Statement of cash flow For the Year Ended 31 December 20XX Cash flow from operating...Statement of cash flow. Particulars Amount ($) Cash flow from operating activities: Cash collected...Statement of cash flow Particulars Amount ($) Cash flow from operating activities: Receipts from...Prepare section related to operating activities of statement of cash flows: L Company Statement of...Statement of cash flow Amount ($) Operating activities Net income (a) 114,975 Increase in account...a. Retirement of the notes payable Date Account title and explanation Post ref. Amount ($) Amount...Decrease in the account receivable Date Account title and explanation post ref. Amount ($) Amount...Purchase of the equipment Date Account title and explanation post ref. Amount ($) Amount ($)...Cash flow statement gives the information related to the cash receipt and cash payment of the...‘Option a’ is correct answer. Given, Sale of the 2016 is $300,000. Sale of the 2017 is $351,000....Chapter 13, Problem 6EChapter 13, Problem 4PSA(a) Formula to calculate current ratio is, Current ratio= Current Assets Current Liabilities Current...Formula to calculate current ratio is, Current ratio= Current Assets Current Liabilities 2017 Given,...Table presenting current ratio, acid-test ratio and working capital transaction wise: Transaction...(1) Given info, Current assets are $43,600. Current liabilities are $17,400. Formula to calculate...(a) Formula to calculate current ratio is, Current ratio= Current Assets Current Liabilities F...Since the rate of interest is 12% annually and time period is 2 years. Therefore the interest rate...Present value= FutureValue&*#x00A0;PVf(n,r)Future value= 60,000i= 9%n= 4 .Present value =...Lean business model is a business strategy where the focus is on meeting the needs of the customers...Non-value-added time = Inspection time + Move time + Wait timeInspection time = 2 hoursMove time = 6...Assets are the items that your company owns which can provide future economic benefits. Assets are...a. Total Assets increase by $10,000 and total equity increase by $10,000 b. Assets increase by $500...Chapter D, Problem 4EGeneral Journal Date Accounts Title & Explanation PR Debit Credit April 1 Cash 101 $80,000...All transaction should be recorded as per the explanation. In the Journal entry, each transaction is...Chapter D, Problem 3PSAGeneral Journal Date Accounts Title & Explanation PR Debit Credit Sep. 1 Cash 101 $38,000 Office...Journal Entries: Date Particular PR Debit ($) Credit ($) A Cash Office equipmentcomputer equipment...General Journal Date Accounts Title & Explanation PR Debit Credit Nov. 1 Cash 101 $30,000 Office...Chapter D, Problem 4BTN
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