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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 ses 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 14 15 Total cost of work in process 15 16 Less: Work in process (12/31) 81000 16 17 Cost of goods manufactured $530,000 17 18 18 19 19 20 20 21 21 22 22 23 23 24 24 25 25 26 26 27 27 28 28 29 29 30 30 31 31 32 32 33 33 34 34 35 35 36 36 37 37 38 38 39 39 40 40
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7 Name Exercise 1-8 Section Date Darlinda Company 1 CASE A: 1 2 (a) 2 3 3 4 4 5 5 6 (b) 6 7 7 8 8 9 9 10 (c ) 10 11 11 12 12 13 13 14 CASE B: 14 15 (d) 15 16 16 17 17 18 18 19 (e) 19 20 20 21 21 22 22 23 (f) 23 24 24 25 25 26 26 27 CASE C: 27 28 (g) 28 29 29 30 30 31 31 32 (h) 32 33 33 34 34 35 35 36 (i) 36 37 37 38 38 39 39 40 40
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8 Name Exercise 1-9 Section Date Motta Company (a) 1 (a) 1 2 2 3 (b) 3 4 4 5 (c ) 5 6 6 7 (d) 7 8 8 9 (e) 9 10 10 11 (f) 11 12 12 13 (g) 13 14 14 15 (h) 15 16 16 17 17 18 18 (b) MOTTA COMPANY Cost of Goods Manufactured Schedule
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