# im_ch01 - CHAPTER 1 Managerial Accounting ASSIGNMENT...

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CHAPTER 1 Managerial Accounting ASSIGNMENT CLASSIFICATION TABLE Study Objectives Questions Brief Exercises Exercises A Problems B Problems * 1. Explain the distinguish- ing features of mana- gerial accounting. 1, 2, 3 1 * 2. Identify the three broad functions of management. 4, 5, 6, 7, 8 2, 3 1 * 3. Define the three classes of manufacturing costs. 11, 12 4, 5, 7 2, 3, 4, 5 1A, 2A 1B, 2B * 4. Distinguish between product and period costs. 13 6 3, 4, 6, 11 1A, 2A 1B, 2B * 5. Explain the difference between a merchand- ising and a manufactur- ing income statement. 9, 14 10, 11, 12, 14 3A, 4A, 5A 3B, 4B, 5B * 6. Indicate how cost of goods manufactured is determined. 15, 16, 17, 18 8, 10, 11 7, 8, 9, 10, 11, 12, 13, 14 3A, 4A, 5A 3B, 4B, 5B * 7. Explain the difference between a merchand- ising and a manufactur- ing balance sheet. 10, 19 9 12, 13, 14 3A, 4A 3B, 4B * 8. Identify trends in mana- gerial accounting. 20, 21, 22, 23, 24 15 *9. Prepare a work sheet and closing entries for a manufacturing company. 25, 26, 27 12 16 6A * Note: All asterisked Questions, Exercises, and Problems relate to material contained in the appendix * to the chapter. 1-1

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ASSIGNMENT CHARACTERISTICS TABLE Problem Number Description Difficulty Level Time Allotted (min.) 1A Classify manufacturing costs into different categories and compute the unit cost. Simple 20 - 30 2A Classify manufacturing costs into different categories and compute the unit cost. Simple 20 - 30 3A Indicate the missing amount of different cost items, and prepare a condensed cost of goods manufactured sched- ule, an income statement, and a partial balance sheet. Moderate 30 - 40 4A Prepare a cost of goods manufactured schedule, a partial income statement, and a partial balance sheet. Moderate 30 - 40 5A Prepare a cost of goods manufactured schedule and a correct income statement. Moderate 30 - 40 *6A * Complete a work sheet; prepare a cost of goods man- ufactured schedule, an income statement and a balance sheet; journalize and post the closing entries. Complex 40 - 50 1B Classify manufacturing costs into different categories and compute the unit cost. Simple 20 - 30 2B Classify manufacturing costs into different categories and compute the unit cost. Simple 20 - 30 3B Indicate the missing amount of different cost items, and prepare a condensed cost of goods manufactured sched- ule, an income statement, and a partial balance sheet. Moderate 30 - 40 4B Prepare a cost of goods manufactured schedule, a partial income statement, and a partial balance sheet. Moderate 30 - 40 5B Prepare a cost of goods manufactured schedule and a correct income statement. Moderate 30 - 40 1-2
BLOOM’S TAXONOMY TABLE 1-3

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STUDY OBJECTIVES 1. EXPLAIN THE DISTINGUISHING FEATURES OF MANAGERIAL ACCOUNTING. 2.
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## This note was uploaded on 05/08/2008 for the course ACC 210 taught by Professor John during the Spring '08 term at South Central College: Faribault Campus.

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im_ch01 - CHAPTER 1 Managerial Accounting ASSIGNMENT...

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