會(huì)計(jì)學(xué)原理19版練習(xí)答案：Chapter_18_Managerial Accounting

1、managerial accounting concepts and principlesquestions1. 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 quantitative expression of a company's long-run and short-run plan

2、s. 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(a)users and decision makersinvestors, creditors, and other us

3、ers 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 control decisions(c)flexibility of practicestructured and often

4、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 organizationemphasis on projects, processes, and subdivision of an organization

5、(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 of customer orientation is that all managers and employees should b

6、e 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 adopting management practices such as total quality management (tqm),

7、just-in-time (jit) manufacturing, and continuous improvement (cl).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 are used in the production process but either do not become a part

8、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 refers to the efforts of employees who physically convert mater

9、ials 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 specific units or batches of product.6. factory overhead is limited

10、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 administrative overhead costs do not pertain to the production process. i

11、nstead, 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.7.9.10.direct labor can be either a prime cost or a conversion cost.direct costs include: costs o

12、f 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 supervisors9 salaries, factory lighting, factory heat, wages of maintenance workers, depreciation of factory equipment, insurance on the factory b

13、uildings, and property taxes on the factory buildings. note: other answers are possible as these lists are not comprehensive-management should be evaluated on the basis of controllable costs. this is because these are the costs they can influence. uncontrollable costs are not under the influence of

14、these managers, and they should not be held accountable for them.management usually must be able to predict financial performance to be successful. therefore, understanding how costs behave under different market conditions and production schedules enables them to better predict financial performanc

15、e 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.12. a manufacturing business produces a product, whereas in a merchandising or service business this

16、 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. a merchandising business, on the other hand, must control and measure only merchandise inventory, and a service firm typically d

17、oes 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, managerial accountants must project how the numbers will look under different possibilities.14. a manufacturing firm converts raw mate

18、rials into finished products- a manufacturing company would report three types of inventories on its balance sheet: raw materials, goods in process, and finished goods. the finished goods are included on the income statement as part of cost of goods sold. a merchandising company purchases inventorie

19、s 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 income statement as part of cost of goods sold. (note: the manufacturer would add cost of goods manufactured to the beginning fin

20、ished goods to determine the goods available for sale. the merchandising firm adds purchases to its beginning merchandise inventory to determine the goods available for sale.)15. manufacturers9 balance sheets usually include small tools, factory buildings, factory machinery, and patents that are use

21、d to produce finished goods. for example, under the “plant assets” category you will often find factory machinery and factory building. a merchandising company would usually not own these assets.16.17.18.manufacturing firms have inventories at various states of completion. manufacturing a product re

22、quires raw materials, which are converted to finished goods. manufacturing companies maintain raw materials inventory so that they have materials available to produce goods. any unfinished product is classified as goods in process. goods in process inventory may be maintained to keep the factory run

23、ning. 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.)manufacturing activities of a company are described in the manufacturing statement this statement summarizes the types and amounts of cos

24、ts incurred in a company's manufacturing process (or activities).the three categories of manufacturing costs are: direct materials, direct labor, and factory overhead.19. examples of factory overhead costs include: indirect materials, indirect labor, depreciation of the factory equipment and pla

25、nt, 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 on materials and goods in process inventories, and repairs and maintenance on the factory building and equipment. more generally

26、, 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 statement apple examplesdirect material cases,wiring, componentswages of production employees factory heat, factory lighting computation

27、 (see exhibit 18.16)direct laborfactory overheadcomputation of cost of goods manufactured21_applemanufacturing statementfor year ended september 30, 2006the date matches the period of the income statement. the ''manufacturing statement” supports the income statement in computing cost of good

28、s 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 goods sold is a line item identified as the cost of goods manufactured. this amount is calculated and reported as the bottom l

29、ine 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. when this is done, a table of factory overhead costs explains the details underlying this single item on the manufacturing state

30、ment.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 time provides value to a product or service from a customer's perspective. non-value added time provides no value to the

31、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 value-added time divided by total cycle time. the closer cycle efficiency is to 1, the more of a company's time is s

32、pent 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 activities.26- yes. although best buy is not a manufacturer, it does offer services such as its geek squad to customer

33、s (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 service offerings-27. inventory components ($ millions)anheuser-busch (dec. 312006)raw materials and supplies $385.6work

34、 in process 110.8finished goods 198.5total inventories $694.9quick studiesquick study 18-1 (5 minutes)answer: 4.quick study 18-2 (10 minutes)1. financial accounting2. financial accounting3. financial accounting4. managerial accounting5. managerial accountingquick study 18-3 (10 minutes)1. c2. a3. dq

35、uick study 18-4 (5 minutes) answer: 4.quick study 18-5 (5 minutes)1. indirect cost2. indirect cost3. direct cost4. indirect cost5. direct costquick study 18-6 (5 minutes) answer: 1.answer: 3. (a) (b) (c) is the usual sequence, exceptions are possible.quick study 18-8 (10 minutes)answer is 3.cost of

36、goods sold is computed asbeginning finished goods inventory $1,000cost of goods manufactured &000goods available for sale 9,000ending finished goods inventory l500cost of goods sold $7.500quick study 18-9 (5 minutes) production activities2sales activities3materials activities1quick study 18-10 (

37、15 minutes)biron companymanufacturing statementfor year ended december 31, 2009direct materials $381,000direct 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, decemb

38、er 31, 2009 285,500cost of goods manufactured$585.000a. process time 7,5hoursinspection time 1.0hoursmove time 3.2hourswait time 18.3hoursmanufacturing cycle time 30.0hoursb. manufacturing cycle efficiency (7.5 hours/ 30.0 hours)0.25quick study 18-12 (10 minutes)finished goods inventory, december 31

39、, 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 $1960.200exercisesexercise 18-1 (10 minutes)primarv information sourcebusiness decisionmanagerial financial1. determine amount

40、 of dividends to pay stockholdersxx2. evaluate a purchasing departments performance x3. report financial performance to board of directorsxx4. estimate product cost for new line of shoes x5. plan the budget for next quarter x6. measure profitability of all individual stores xx7. prepare financial re

41、ports according to gaapx8. determine location and size for a new plant x1) controlling! is the process of monitoring planning decisions and evaluating the organization's activities and employees.2) planning is the process of setting goals and making plans to achieve them.3) lona-term planning us

42、ually covers a period of five to ten years.4) short-term plannina 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.managers, employees, and decision mak

43、ers 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 informationassist external users in making investment, credit, and other decisions.assist managers in making planning an

44、d 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.emphasis on projects, processes, and su

45、bdivisions of an organization.7. time dimensionhistorical information with minimum predictions.many projections and estimates; historical information also presented.a. 1.c3.d2.a, b4.db. if customers rate any of the factors on the survey as anything other than “very satisfied,9, managers should inves

46、tigate the reasons for the customer's lack of satisfaction. the survey itself does not identify the reasons, only the lack of satisfaction. it would be helpful for management to include an open-ended question after each of the factors to ask the customer to elaborate on their satisfaction or lac

47、k of satisfaction.exercise 18-5 (10 minutes)1. (a), (b), and (c)2. (a) and (b)3(d)product costperiod costdirect costindirect costprimeconversion1. amortization of patents onyxfactory machinezvzv2. payroll taxes for productionxxsupervisor3. accident insurance onyyyyfactory workers* aaaa4. depreciatio

48、nfactory bldg .xx5. state and federal income tax.x6. wages to assembly workers*.xxx7. direct materials usedxx8. office supplies usedx9. bad debts expensex10. small tools usedxx11. factory utilitiesxx12. advertisingxthere are certain costs that can be classified as direct for one company and indirect

49、 for another. the specific classification depends on the materiality and cost benefit of tracking- for example, some companies track employee benefits for direct and indirect workers. yet, some manufacturing companies will simply classify all employee benefits as indirect and overhead.* direct labor

50、 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 cost classificationsare(a) behavior(c)controllability(e) function(b) traceability(d)relevance2. two purposes of identifying these separate cost c

51、lassifications(a) cost classifications provide a standardized framework for using cost accounting information by management.(b) cost classifications are useful in different types of management analysis. for example, cost accounting is used to evaluate employees, management, divisions, regions, and c

52、ustomer profitability; each has a unique framework for analysis and decision making. in short, different analyses usually require a different role for cost information. many of these analyses will be expanded upon in the remaining chapters of this book.1.product costcost by behaviorcost by traceabil

53、ityvariablefixeddirectindirect1. annual flat fee paid for officexxsecurity2. leather cover for soccer ballsxx3. lace to hold the leather together.xx4. wages of assembly workersxx5. coolants for machineryxx6. machinery depreciationxx7. taxes on factoryxx2. most fixed costs are indirect. fixed costs n

54、ormally are resources acquired to support the production process 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

55、 in production increases. these laces might be classified as direct 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 direc

56、t costsdirect materials and direct laborare variable. they are 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 minute司part 1company 1, fresh foods, is a merchandising firm with only one

57、 inventory item, merchandise inventory. company 2, nordic skis 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 $