會計學(xué)原理19版練習(xí)答案：Chapter_18_Managerial Accounting

1、McGraw-Hill Companies, 2009Solutions Manual, Chapter 18959Chapter 18Managerial AccountingConcepts and Principles QUESTIONS1.The managerial accountant plays an important role in preparing the information necessary for effective planning and control decisions. One example is the budget, which is a qua

2、ntitative expression of a companys long-run and short-run plans. The budget is used to compare actual results to planned performance. With this type of information provided by the managerial accountant, management strives to continuously improve a business.2.Financial AccountingManagerial Accounting

3、(a) Users and decision makersInvestors, creditors, and other users external to the organizationManagers, employees, and decision makers internal to the organization(b) Purpose of informationAssist external users in making investment, credit, and other decisionsAssist managers in making planning and

4、control decisions(c) Flexibility of practiceStructured and often controlled by GAAPRelatively flexible (no GAAP)(d) Time dimensionHistorical information with minimum predictionsMany projections and estimates; historical information also presented(e) Focus of informationEmphasis on whole organization

5、Emphasis on projects, processes, and subdivision of an organization(f)Nature of informationMonetary informationMostly monetary; but also nonmonetary information3.A customer orientation has led companies to adopt the principles of the lean business model in response to consumer demands. The essence o

6、f customer orientation is that all managers and employees should be sensitive to the wants and needs of customers, attempting to develop flexible product designs and production processes that are responsive to changes in customer demands along with minimization of defects. They are increasingly adop

7、ting management practices such as total quality management (TQM), just-in-time (JIT) manufacturing, and continuous improvement (CI).4.Direct materials are raw materials that physically become part of the product and can be clearly traced to specific units or batches of product. Indirect materials ar

8、e used in the production process but either do not become a part of the product or are not easily traceable to units or batches of product. Some materials are identified as indirect because they are of insignificant value or it is not cost beneficial to trace them to finished products.5.Direct labor

9、 refers to the efforts of employees who physically convert materials to finished product. Indirect labor refers to the efforts of factory employees who do not work specifically on converting direct materials into finished products and whose efforts are not clearly associated (or traceable) with spec

10、ific units or batches of product.6.Factory overhead is limited to indirect costs that are incurred in the production process. That is, it consists of activities that support the production process, such as indirect material, indirect labor, heat, and related factory utilities. Selling and administra

11、tive overhead costs do not pertain to the production process. Instead, selling and administrative overhead are activities involved with selling the product and running the business. Accordingly, selling and administrative overhead costs are expensed as period costs. 7. Direct labor can be either a p

12、rime cost or a conversion cost. 8. Direct costs include: costs of component parts such as chips, circuit boards, cases, drives, as well as the labor of workers who assemble the products. Indirect costs include: cost of supervisors salaries, factory lighting, factory heat, wages of maintenance worker

13、s, depreciation of factory equipment, insurance on the factory buildings, and property taxes on the factory buildings. Note: Other answers are possible as these lists are not comprehensive. 9. Management should be evaluated on the basis of controllable costs. This is because these are the costs they

14、 can influence. Uncontrollable costs are not under the influence of these managers, and they should not be held accountable for them.10. Management usually must be able to predict financial performance to be successful. Therefore, understanding how costs behave under different market conditions and

15、production schedules enables them to better predict financial performance and to plan accordingly.11. Product costs are capitalized because they represent a future value (an asset) to the business. Period costs are expensed because they are consumed in the current period.McGraw-Hill Companies, 2009S

16、olutions Manual, Chapter 1896112. A manufacturing business produces a product, whereas in a merchandising or service business this is not the case. In making a product, the manufacturing business must control and measure three types of inventories: raw materials, goods in process, and finished goods

17、. A merchandising business, on the other hand, must control and measure only merchandise inventory, and a service firm typically does not control and measure any inventory.13. To run a successful business, management must make predictions and estimates about what will occur in the future. Thus, mana

18、gerial accountants must project how the numbers will look under different possibilities.14. A manufacturing firm converts raw materials into finished products. A manufacturing company would report three types of inventories on its balance sheet: raw materials, goods in process, and finished goods. T

19、he finished goods are included on the income statement as part of cost of goods sold. A merchandising company purchases inventories to resell. A merchandising company would report only one inventory item (merchandise inventory) on its balance sheet, and would include the merchandise inventory on the

20、 income statement as part of cost of goods sold. (Note: The manufacturer would add cost of goods manufactured to the beginning finished goods to determine the goods available for sale. The merchandising firm adds purchases to its beginning merchandise inventory to determine the goods available for s

21、ale.) 15. Manufacturers balance sheets usually include small tools, factory buildings, factory machinery, and patents that are used to produce finished goods. For example, under the “Plant Assets” category you will often find factory machinery and factory building. A merchandising company would usua

22、lly not own these assets.16. Manufacturing firms have inventories at various states of completion. Manufacturing a product requires raw materials, which are converted to finished goods. Manufacturing companies maintain raw materials inventory so that they have materials available to produce goods. A

23、ny unfinished product is classified as goods in process. Goods in process inventory may be maintained to keep the factory running. Finished goods inventory is maintained to supply to customers when they place orders. (Note: A JIT system attempts to minimize all three types of inventory.)17. Manufact

24、uring activities of a company are described in the manufacturing statement. This statement summarizes the types and amounts of costs incurred in a companys manufacturing process (or activities).18. The three categories of manufacturing costs are: direct materials, direct labor, and factory overhead.

25、19. Examples of factory overhead costs include: indirect materials, indirect labor, depreciation of the factory equipment and plant, amortization of patents, the cost of small tools used, factory utilities, insurance on the factory and equipment, property taxes on plant and equipment, property taxes

26、 on materials and goods in process inventories, and repairs and maintenance on the factory building and equipment. More generally, all costs associated with manufacturing a good that are not classified as direct material or direct labor are included in overhead. 20.Components of Manufacturing Statem

27、entApple ExamplesDirect material.Cases, wiring, componentsDirect labor.Wages of production employeesFactory overhead.Factory heat, factory lighting Computation of cost of goods manufactured.Computation (see Exhibit 18.16) 21.APPLEManufacturing StatementFor Year Ended September 30, 2006 The date matc

28、hes the period of the income statement. The “manufacturing statement” supports the income statement in computing cost of goods available for sale for the cost of goods sold section. 22. The income statement describes the revenues and expenses for the year. Included in the calculation of the cost of

29、goods sold is a line item identified as the cost of goods manufactured. This amount is calculated and reported as the bottom line of the manufacturing statement. The manufacturing statement often includes a component line item showing only the total amount of factory overhead cost for the period. Wh

30、en this is done, a table of factory overhead costs explains the details underlying this single item on the manufacturing statement.23. Cycle time is the time it takes a company to produce a product or service. Its components are process time, inspection time, move time, and wait time.24. Value-added

31、 time provides value to a product or service from a customers perspective. Non-value added time provides no value to the customer. Value-added time includes processing time. Non-value-added time includes the activities of inspection time, move time, and wait time.25. Cycle efficiency is the ratio of

32、 value-added time divided by total cycle time. The closer cycle efficiency is to 1, the more of a companys time is spent on value-added activities. If the cycle efficiency is low or close to 0, the company will want to evaluate the production process to identify ways to reduce its non-value-added ac

33、tivities.26. Yes. Although Best Buy is not a manufacturer, it does offer services such as its Geek Squad to customers (updating computers, file recoveries, repair services). Accordingly, Best Buy can use the concepts and measures of cycle time and cycle efficiency to evaluate performance on its serv

34、ice offerings.27.Inventory Components ($ millions)Anheuser-Busch (Dec. 31, 2006)Raw Materials and supplies.$385.6Work in process.110.8Finished goods. 198.5Total inventories.$694.9McGraw-Hill Companies, 2009Solutions Manual, Chapter 18963QUICK STUDIESQuick Study 18-1 (5 minutes)Answer: 4.Quick Study

35、18-2 (10 minutes)1.Financial accounting2.Financial accounting3.Financial accounting4.Managerial accounting5.Managerial accountingQuick Study 18-3 (10 minutes)1.C 2.A3.D4.BQuick Study 18-4 (5 minutes)Answer: 4.Quick Study 18-5 (5 minutes)1.Indirect cost2.Indirect cost3.Direct cost4.Indirect cost5.Dir

36、ect costQuick Study 18-6 (5 minutes)Answer: 1.Quick Study 18-7 (5 minutes)Answer: 3. (a) (b) (c) is the usual sequence, exceptions are possible.Quick Study 18-8 (10 minutes)Answer is 3. Cost of goods sold is computed asBeginning finished goods inventory.$ 1,000Cost of goods manufactured . 8,000Goods

37、 available for sale.9,000Ending finished goods inventory . 1,500Cost of goods sold.$7,500Quick Study 18-9 (5 minutes)Production activities2Sales activities3Materials activities1Quick Study 18-10 (15 minutes)Biron CompanyManufacturing StatementFor Year Ended December 31, 2009Direct materials. $381,00

38、0Direct labor .126,300Factory overhead costs . 48,000Total manufacturing costs .555,300Add goods in process, December 31, 2008. 315,200Total cost of goods in process.870,500Less goods in process, December 31, 2009 . 285,500Cost of goods manufactured. $585,000McGraw-Hill Companies, 2009Solutions Manu

39、al, Chapter 18965Quick Study 18-11 (10 minutes)a. Process time. 7.5 hoursInspection time. 1.0 hoursMove time. 3.2 hoursWait time.18.3 hoursManufacturing cycle time.30.0 hoursb. Manufacturing cycle efficiency (7.5 hours/ 30.0 hours) .0.25Quick Study 18-12 (10 minutes)Finished goods inventory, Decembe

40、r 31, 2008. $ 690,000Plus cost of goods manufactured. 1,837,400Cost of goods available for sale. 2,527,400Less finished goods inventory, December 31, 2009 . 567,200Cost of goods sold .$1,960,200EXERCISESExercise 18-1 (10 minutes)Primary Information SourceBusiness DecisionManagerialFinancial1. Determ

41、ine amount of dividends to pay stockholders.XX2. Evaluate a purchasing departments performance.X3. Report financial performance to board of directors .XX4. Estimate product cost for new line of shoes.X5. Plan the budget for next quarter.X6. Measure profitability of all individual stores .XX7. Prepar

42、e financial reports according to GAAP .X8. Determine location and size for a new plant.XExercise 18-2 (10 minutes)1) Controlling is the process of monitoring planning decisions and evaluating the organizations activities and employees.2)Planning is the process of setting goals and making plans to ac

43、hieve them. 3) Long-term planning usually covers a period of five to ten years. 4) Short-term planning usually covers a period of one year. Exercise 18-3 (15 minutes)Financial AccountingManagerial Accounting1. Users and decision makersInvestors, creditors and other users external to the organization

44、.Managers, employees, and decision makers internal to the organization.2. Timeliness of informationOften available only after the audit is complete.Available quickly without the need to wait for an audit.3. Purpose of information Assist external users in making investment, credit, and other decision

45、s.Assist managers in making planning and control decisions.4. Nature of informationMonetary information.Mostly monetary; some nonmonetary information.5. Flexibility of practiceStructured and often controlled by GAAP.Relatively flexible (no GAAP).6. Focus of informationEmphasis on whole organization.

46、Emphasis on projects, processes, and subdivisions of an organization.7. Time dimensionHistorical information with minimum predictions.Many projections and estimates; historical information also presented.McGraw-Hill Companies, 2009Solutions Manual, Chapter 18967Exercise 18-4 (10 minutes)a. 1.C3.D2.A

47、, B4.Db. If customers rate any of the factors on the survey as anything other than “very satisfied,” managers should investigate the reasons for the customers lack of satisfaction. The survey itself does not identify the reasons, only the lack of satisfaction. It would be helpful for management to i

48、nclude an open-ended question after each of the factors to ask the customer to elaborate on their satisfaction or lack of satisfaction.Exercise 18-5 (10 minutes)1.(a), (b), and (c)2.(a) and (b)3.(d)Exercise 18-6 (20 minutes)Product CostPrimeConversionPeriod CostDirectCostIndirectCost1. Amortization

49、of patents on factory machine.XX2. Payroll taxes for production supervisor.XX3. Accident insurance on factory workers* .XXXX4. DepreciationFactory bldg.XX5. State and federal income tax.X6. Wages to assembly workers*.XXX7. Direct materials used.XX8. Office supplies used.X9. Bad debts expense.X10. Sm

50、all tools used.XX11. Factory utilities.XX12. Advertising.X *There are certain costs that can be classified as direct for one company and indirect for another. The specific classification depends on the materiality and cost benefit of tracking. For example, some companies track employee benefits for

51、direct and indirect workers. Yet, some manufacturing companies will simply classify all employee benefits as indirect and overhead.*Direct labor is a prime and conversion cost because this labor force is in direct contact with the product in the conversion process.Exercise 18-7 (15 minutes)1. Five c

52、ost classifications are(a)Behavior(c)Controllability(e)Function(b)Traceability(d)Relevance2. Two purposes of identifying these separate cost classifications(a) Cost classifications provide a standardized framework for using cost accounting information by management.(b) Cost classifications are usefu

53、l in different types of management analysis. For example, cost accounting is used to evaluate employees, management, divisions, regions, and customer profitability; each has a unique framework for analysis and decision making. In short, different analyses usually require a different role for cost in

54、formation. Many of these analyses will be expanded upon in the remaining chapters of this book.McGraw-Hill Companies, 2009Solutions Manual, Chapter 18969Exercise 18-8 (20 minutes)1.Cost by BehaviorCost by TraceabilityProduct CostVariableFixedDirectIndirect1. Annual flat fee paid for office security

55、.XX2. Leather cover for soccer balls. XX3. Lace to hold the leather together . XX4. Wages of assembly workers. XX5. Coolants for machinery.XX6. Machinery depreciation.XX7. Taxes on factory.XX2. Most fixed costs are indirect. Fixed costs normally are resources acquired to support the production proce

56、ss rather than being traceable to individual products or batches of product. However, not all indirect costs are fixed. Some, like indirect materials, are variable.For example, as production increases, the total cost of the laces consumed in production increases. These laces might be classified as d

57、irect materials. But since their value is low compared to the total value of the soccer ball, it is not worth the effort to try and trace the amount that goes into each ball. This is why they are treated as indirect.In addition, the direct costsdirect materials and direct laborare variable. They are

58、 identified with specific items or batches of items, and the total cost of the raw materials and labor consumed increases as production increases.Exercise 18-9 (20 minutes)Part 1Company 1, Fresh Foods, is a merchandising firm with only one inventory item, merchandise inventory. Company 2, Nordic Ski

59、s Mfg., is a manufacturing company with 3 inventory categories (raw materials, goods in process, and finished goods).Part 2Company 1Fresh FoodsCurrent Asset SectionDecember 31, 2009Cash .$ 13,000Accounts receivable. 62,000Merchandise inventory.44,250Prepaid expenses . 3,000Total current assets.$122,

60、250Company 2Nordic Skis Mfg.Current Asset SectionDecember 31, 2009Cash .$ 11,000Accounts receivable. 81,000Raw materials inventory.41,250Goods in process inventory. 30,000Finished goods inventory . 50,000Prepaid expenses . 600Total current assets.$213,850Discussion: The current asset section for the