Kimmel.SM.cp14.vpdf

# Accounting: Tools for Business Decision Making

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14-1 CHAPTER 14 Managerial Accounting ASSIGNMENT CLASSIFICATION TABLE Study Objectives Questions Brief Exercises Exercises A Problems B Problems * 1. Explain the distinguishing features of managerial 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 merchandising and a manufacturing 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 merchandising and a manufacturing balance sheet. 10, 19 9 12, 13, 14 3A, 4A 3B, 4B * 8. Identify trends in managerial 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.

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14-2 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 pre- pare a condensed cost of goods manufactured schedule, 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 manufactured 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 schedule, 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
BLOOM'S TAXONOMY TABLE 14-3 Correlation Chart between Bloom’s Taxonomy, Study Objectives and End-of-Chapter Exercises and Problems Study Objective Knowledge Comprehension Application Analysis Synthesis Evaluation * 1. Explain the distinguishing features of managerial accounting. Q14-1 Q14-2 Q14-3 BE14-1 2. Identify the three broad functions of management. E14-1 Q14-4 Q14-5 Q14-6 Q14-7 Q14-8 BE14-2 BE14-3 3. Define the three classes of manufacturing costs. Q14-11 Q14-12 BE14-4 BE14-5 BE14-7 E14-3 E14-2 E14-4 E14-5 P14-1A P14-2A P14-1B P14-2B 4.

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Kimmel.SM.cp14.vpdf - CHAPTER 14 Managerial Accounting...

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