ch01 - Name Section Date Chapter 1 Brief Exercises #1 1...

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1 Name Chapter 1 Brief Exercis Section Date #1 Financial Accounting Managerial Accounting 1 Primary users 2 3 4 5 Types of reports 6 7 8 Frequency of reports 9 10 11 Purpose of reports 12 13 14 Reprting standards 15 16 17 Verification 18 19 20 21 #2 22 23 24 25 26 27 28 29 30 31 #3 32 (a) 33 (b) 34 (c ) 35 36 #4 37 (a) 38 (b) 39 (c ) 40 (d)
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1 ises 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40
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2 Name Chapter 1 Brief Exercises Contin Section Date #5 1 (a) 2 (b) 3 (c ) 4 (d) 5 (e) 6 (f) 7 (g) 8 (h) 9 10 11 #6 12 (a) 13 (b) 14 (c ) 15 (d) 16 (e) 17 (f) 18 19 20 21 #7 Product Costs 22 Direct Direct Manufacturing 23 Material Costs Overhead 24 (a) 25 (b) 26 (c ) 27 (d) 28 29 30 #8 31 (a) 32 33 34 35 36 (b) 37 38 39 40
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2 nued 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40
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3 Name Chapter 1 Brief Exercises Concluded Section Date #9 OSGOOD COMPANY Current Assets Section of Balance Sheet December 31, 2005 1 1 2 2 3 3 4 4 5 5 6 6 7 7 8 8 9 9 10 10 11 11 12 12 13 13 14 14 15 15 16 #10 Direct Direct Total 16 17 Materials Labor Factory Manufacturing 17 18 Used Used Overhead Costs 18 19 19 20 (a) $35,000 $61,000 $50,000 20 21 21 22 (b) $75,000 $140,000 $296,000 22 23 23 24 (c ) $55,000 $111,000 $300,000 24 25 25 26 #11 26 27 Total Work in Work in Cost of 27 28 Manufacturing Process Process Goods 28 29 Costs (January 1) (December 31) Manufactured 29 30 (a) $120,000 $82,000 30 31 31 32 (b) $296,000 $98,000 $321,000 32 33 33 34 (c ) $300,000 $463,000 $715,000 34 35 35 36 #12 Account Work Sheet Column 36 37 37 38 38 39 39 40 40
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4 Name Exercises 1-1 to 1-3 Section Date #1 1 1. 1 2 2. 2 3 3. 3 4 4. 4 5 5. 5 6 6. 6 7 7. 7 8 8 9 #2 9 10 1. 10 11 2. 11 12 3. 12 13 4. 13 14 5. 14 15 6. 15 16 7. 16 17 8. 17 18 9. 18 19 10. 19 20 20 21 21 22 22 23 23 24 24 25 25 26 26 27 27 28 28 29 29 30 (b) 30 31 31 32 32 33 33 34 34 35 (c ) 35 36 36 37 37 38 38 39 39 40 40 #3 (a)
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5 Name Exercises 1-4 to 1-6 Section Date #4 1 1. 1 2 2. 2 3 3. 3 4 4. 4 5 5. 5 6 6. 6 7 7. 7 8 8. 8 9 9. 9 10 10. 10 11 11 12 #5 12 13 1. 13 14 2. 14 15 3. 15 16 4. 16 17 5. 17 18 6. 18 19 7. 19 20 8. 20 21 9. 21 22 10. 22 23 23 24 Delivery service (product) costs: 24 25 25 26 26 27 27 28 28 29 29 30 30 31 31 32 32 33 (b) Period costs: 33 34 34 35 35 36 36 37 37 38 38 39 39 40 40 #6. (a)
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6 Name Exercise 1-7 Section Date Madlock Manufacturing Company MEDLOCK MANUFACTURING COMPANY Cost of Goods Manufactured Schedule For the Year Ended December 31, 2005 1 Work in process (1/1) $210,000 1 2 Direct materials: 2 3 Raw materials inventory (1/1) 3 4 Add: Raw materials purchases 158000 4 5 Total raw materials available for use 5 6 Less: Raw materials inventory (12/31) 7500 6 7 Direct materials used $190,000 7 8 Direct labor: 8 9 Manufacturing overhead 9 10 Indirect labor $18,000 10 11 Factory depreciation 36,000 11 12 Factory utilities 68,000 12 13 Total overhead 122,000 13 14 Total manufacturing costs
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This note was uploaded on 04/07/2008 for the course ACCT 1102 taught by Professor Rachubinski during the Spring '08 term at College of DuPage.

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ch01 - Name Section Date Chapter 1 Brief Exercises #1 1...

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