Principles of Cost Accounting17th EditionEdward J. Vanderbeck, Maria R. Mitchell Publisher: Cengage LearningISBN: 9781305087408
Principles of Cost Accounting
Solutions for Principles of Cost Accounting
Problem 9Q:
For a manufacturer, what does the planning process involve, and how is cost accounting information...Problem 11Q:
Define responsibility accounting.Problem 12Q:
What criteria must be met for a unit of activity within the factory to qualify as a cost center?Problem 15Q:
What actions should a CMA take when the established policies of the organization do not resolve an...Problem 20Q:
How does the computation of cost of goods sold for a manufacturer differ from that of a...Problem 21Q:
How would you describe the following accounts: Finished Goods, Work in Process, and Materials?Problem 23Q:
What is the difference between a perpetual inventory system and a periodic inventory system?Problem 24Q:
What are the basic elements of production cost?Problem 25Q:
How would you define the following costs: direct materials, indirect materials, direct labor,...Problem 26Q:
Why have companies such as Harley-Davidson stopped tracking direct labor cost as a separate cost...Problem 27Q:
Distinguish prime cost from conversion cost. Does prime cost plus conversion cost equal the total...Problem 28Q:
In what way does the accounting treatment of factory overhead differ from that of direct materials...Problem 30Q:
How are nonfactory costs and costs that benefit both factory and nonfactory operations accounted...Problem 31Q:
What is a mark-on percentage?Problem 34Q:
What are the advantages of accumulating costs by departments or jobs rather than for the factory as...Problem 35Q:
What is a job cost sheet, and why is it useful?Problem 37Q:
If the factory operations and selling and administrative offices are housed in the same building,...Problem 1E:
Study the performance report for Barbaras Bistro in Figure 1-2 of the chapter and write a brief...Problem 2E:
Note that Barbaras Bistro in Figure 1-2 prepares monthly performance reports. Do you think that it...Problem 3E:
Cost of goods soldmerchandiser The following data were taken from the general ledger of Owens...Problem 4E:
The following data were taken from the general ledger and other data of McDonough Manufacturing on...Problem 6E:
Explain in narrative form the flow of direct materials, direct labor, and factory overhead costs...Problem 7E:
The following data are taken from the general ledger and other records of Coral Park Production Co....Problem 8E:
The following data are taken from the general ledger and other records of Phoenix Products Co. on...Problem 9E:
The following inventory data relate to Edwards, Inc.: Calculate the following for the year: a....Problem 10E:
The following is a list of manufacturing costs incurred by Denney Manufacturing Co. during July:...Problem 11E:
Leen Production Co. uses the job order cost system of accounting. The following information was...Problem 12E:
Gerken Fabrication Inc. uses the job order cost system of accounting. The following information was...Problem 13E:
Cycle Specialists manufactures goods on a job order basis. During the month of June, three jobs were...Problem 1P:
Prepare a performance report for the dining room of Barbaras Bistro for the month of February 2016,...Problem 2P:
The following data were taken from the general ledgers and other sources of Gamma Manufacturing Inc....Problem 3P:
The following data were taken from the general ledgers and other sources of Clark Manufacturing Inc....Problem 4P:
Statement of cost of goods manufactured; income statement; balance sheet The adjusted trial balance...Problem 5P:
The adjusted trial balance for Appleton Appliances, Ltd. on June 30, the end of its first month of...Problem 6P:
The post-closing trial balance of Custer Products, Inc. on April 30 is reproduced as follows: During...Problem 7P:
Selected account balances and transactions of Titan Foundry Inc. follow: May Transactions: a....Problem 8P:
OReilly Manufacturing Co.s cost of goods sold for the month ended July 31 was 345,000. The ending...Problem 9P:
Glasson Manufacturing Co. produces only one product. You have obtained the following information...Problem 10P:
Sultan, Inc. manufactures goods to special order and uses a job order cost system. During its first...Problem 11P:
Spokane Production Co. obtained the following information from its records for July: Required: 1....Problem 12P:
Bangor Products Co. obtained the following information from its records for April: Required: 1....Browse All Chapters of This Textbook
Chapter 1 - Introduction To Cost AccountingChapter 2 - Accounting For MaterialsChapter 3 - Accounting For LaborChapter 4 - Accounting For Factory OverheadChapter 5 - Process Cost Accounting—general ProceduresChapter 6 - Process Cost Accounting—additional Procedures; Accounting For Joint Products And By-productsChapter 7 - The Master Budget And Flexible BudgetingChapter 8 - Standard Cost Accounting—materials, Labor, And Factory OverheadChapter 9 - Cost Accounting For Service Businesses, The Balanced Scorecard, And Quality CostsChapter 10 - Cost Analysis For Management Decision Making
Book Details
Discover how readable and relevant cost accounting can be with PRINCIPLES OF COST ACCOUNTING, 17E. This edition packs the essentials you need to know in a unique 10-chapter format that is well organized, practical, and concise. You gain a thorough understanding of cost concepts, cost behavior, and cost accounting techniques as they apply to manufacturing and service businesses. To ensure understanding, the book introduces concepts in small, manageable sections that are immediately reinforced with proven questions, demonstration problems, practice exercises, and self-study quizzes. You master the fundamentals of job order costing and process costing before progressing to more advanced topics, such as budgeting, standard costing and variance analysis, costing for service businesses, and cost analysis for management decisions. Focus on skills that will take you far in today's competitive job market as you learn how to determine the costs of products and services and how to set effective selling prices. Learn techniques to measure the performance of managers and discover how to use accounting to achieve organization's goals. Find the relevant approach you need with the most up-to-date presentation of accounting skills in PRINCIPLES OF COST ACCOUNTING, 17E and corresponding CengageNOW online homework tools.
Sample Solutions for this Textbook
We offer sample solutions for Principles of Cost Accounting homework problems. See examples below:
Chapter 1, Problem 1QChapter 1, Problem 12EChapter 1, Problem 6PChapter 1, Problem 7PChapter 1, Problem 9PChapter 1, Problem 10PChapter 1, Problem 13PChapter 2, Problem 1QJournal entry: Journal entry is a set of economic events which can be measured in monetary terms....
Chapter 2, Problem 17PChapter 3, Problem 1QChapter 3, Problem 7PChapter 3, Problem 9PJournal entry: Journal entry is a set of economic events which can be measured in monetary terms....Chapter 4, Problem 1QChapter 4, Problem 15PChapter 4, Problem 20PChapter 5, Problem 1QChapter 5, Problem 15EEquivalent units for production: The activity of a processing department in terms of fully completed...Chapter 5, Problem 2PPrepare a cost of production summary for the month March. G Inc.Cost of production summaryForming...Chapter 5, Problem 13PChapter 6, Problem 1QChapter 6, Problem 9EChapter 6, Problem 11EChapter 6, Problem 1PChapter 6, Problem 4PBudget: It is a planning device which is helpful for the company to set the goal and a gauge against...Chapter 7, Problem 2PPrepare the sales budget for the year ended December 31, 2016. SS IncorporationSales budgetFor the...Chapter 7, Problem 9PPrepare the factory overhead cost budget. Factory overhead cost budgetPercent of normal...Chapter 8, Problem 1QChapter 8, Problem 1EMaterials—2 lb @ $8$16Labor—1 hr @ $10$10Factory overhead ($4,000 ÷ 1,000 units)$4Standard unit...Materials—2 lb @ $8$16Labor—1 hr @ $10$10Factory overhead ($4,000 ÷ 1,000 units)$4Standard unit...Materials—2 lb @ $8$16Labor—1 hour @ $10$10Factory overhead ($4,000 ÷ 1,000 units)$4Standard unit...Materials—2 lb @ $8$16Labor—1 hr @ $10$10Factory overhead ($4,000 ÷ 1,000 units)$4Standard unit...Prepare the journal entries to record the transactions. ParticularsDebit($)Credit($)Work in...Chapter 8, Problem 1MCChapter 9, Problem 1QBudgeted overhead allocation rate: The budgeted overhead allocation rate is the rate at which the...Budgeted overhead allocation rate: The budgeted overhead allocation rate is the rate at which the...Budgeted overhead allocation rate: The budgeted overhead allocation rate is the rate at which the...Budgeted overhead allocation rate: The budgeted overhead allocation rate is the rate at which the...Chapter 10, Problem 1QAbsorption costing: It refers to the method of product costing in which the price of the product is...Absorption costing: It refers to the method of product costing in which the price of the product is...Chapter 10, Problem 9PCalculate the number of cans of each kind of nut sold as follows: Assume, x is cans of cashews sold,...Calculate the additional units that would have to be produced as follows: Additional units need to...
More Editions of This Book
Corresponding editions of this textbook are also available below:
Principles of Cost Accounting
17th Edition
ISBN: 9781305692862
PRIN. OF COST ACCT LL-W/CNOW >IP<
17th Edition
ISBN: 9781305770324
PRIN.OF COST ACCOUNTING-ACCESS
17th Edition
ISBN: 9781305254640
PRINCIPLES OF COST ACCOUNTING
17th Edition
ISBN: 9781305280151
PRIN.OF COST ACCOUNTING-W/ACCESS
17th Edition
ISBN: 9781305620049
EBK PRINCIPLES OF COST ACCOUNTING
17th Edition
ISBN: 9780100544789
EBK PRINCIPLES OF COST ACCOUNTING
17th Edition
ISBN: 9781305480520
Principles of Cost Accounting
16th Edition
ISBN: 9781133187868
Principles Of Cost Accounting
16th Edition
ISBN: 9781133712701
Prct Principles of Cost Accounting
10th Edition
ISBN: 9780538850995
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