Professor Gbeneio
Intermediate Accounting
22-Sep-10
E3-1
1. Total Current Assets
Cash and Cash Equipment
Account Receivable
Inventories
Property, Plant and Equipment
2. Short Term Investment
Equal 0
3. Retained Earnings
205,000
-44,000
15,000
30,000
6,000
LaShaunda Wyatt
Cost and Management Account
Professor Gbeneio
September 2, 2010
Chapter 1 Assignments
Exercises
1-16: Value chain and classification of costs, Computer Company.
1. Electricity costs for the plant assembling the Presario computer line of pr
LaShaunda Wyatt
Cost and Management Accounting
Professor Gbenedio
August 30, 2010
Assignment #1
SEC:TheSecuritiesandExchangeCommissionwascreatedbyCongresswiththe1934Securities
ExchangeAct.TheU.S.CongresscreatedtheU.S.SecuritiesandExchangeCommissionin1934
LaShaunda Wyatt
Intermediate Accounting
Professor Gbenedio
August 31, 2010
E1-2: Accrual Accounting
1. Calculate accrual net income for both years.
Y
ear2
Year3
Amounts billed to customers for services rendered
350,000
450,000
Cash Collected from credit c
LaShaunda Wyatt
Professor Gbeneio
Intermediate Accounting
22-Sep-10
Account Titles
Cash
Account Receivable
Raw Materials
Note Receivable
Interest Receivable
Interest Payable
Marketable Sercurities
Land
Buildings
Accumulated Depreciation- Building
Work in
Professor Gbeneio
Intermediate Accounting
22-Sep-10
EX3-1
EX3-2
1. equipment
2. accounts payable
3.allowance for uncollectible accounts
4. land, held for investment
5. note payable, due in 5 years
6. unearned rent revenue
7. note payable, due in 6 months
Geneva Regusters
August 31, 2010
Intermediate Accounting
E: 1-2 Listed below are several transactions that took place during the second two years of
operations for RPG.
In addition, you learn that the company incurred advertising costs off $250,000 in
yea
Geneva Regusters
Cost and Management Accounting
Professor Gbenedio
August 30, 2010
Assignment #1
SEC:TheSecuritiesandExchangeCommissionwascreatedbyCongresswiththe1934Securities
ExchangeAct.TheU.S.CongresscreatedtheU.S.SecuritiesandExchangeCommissionin193
LaShaunda Wyatt
Professor Obenedio
E2-16 Computing and interpreting manufacturing unit costs
1. Compute the manufacturing cost per unit for each product produced in July 2008.
Manufacturing cost per unit = Total manufacturing costs/ number of units manufa
CHAPTER 20 INVENTORY MANAGEMENT, JUST-IN-TIME, AND SIMPLIFIED COSTING METHODS 20-1 Cost of goods sold (in retail organizations) or direct materials costs (in organizations with a manufacturing function) as a percentage of sales frequently exceeds net inco
CHAPTER 17 PROCESS COSTING 17-1 Industries using process costing in their manufacturing area include chemical processing, oil refining, pharmaceuticals, plastics, brick and tile manufacturing, semiconductor chips, beverages, and breakfast cereals. 17-2 Pr
CHAPTER 15 ALLOCATION OF SUPPORT-DEPARTMENT COSTS, COMMON COSTS, AND REVENUES 15-1 The single-rate (cost-allocation) method makes no distinction between fixed costs and variable costs in the cost pool. It allocates costs in each cost pool to cost objects
CHAPTER 14 COST ALLOCATION, CUSTOMER-PROFITABILITY ANALYSIS, AND SALES-VARIANCE ANALYSIS 14-1 Disagree. Cost accounting data plays a key role in many management planning and control decisions. The division president will be able to make better operating a
CHAPTER 13 STRATEGY, BALANCED SCORECARD, AND STRATEGIC PROFITABILITY ANALYSIS 13-1 Strategy specifies how an organization matches its own capabilities with the opportunities in the marketplace to accomplish its objectives. 13-2 The five key forces to cons
CHAPTER 12 PRICING DECISIONS AND COST MANAGEMENT 12-1 The three major influences on pricing decisions are 1. Customers 2. Competitors 3. Costs 12-2 Not necessarily. For a one-time-only special order, the relevant costs are only those costs that will chang
CHAPTER 11 DECISION MAKING AND RELEVANT INFORMATION 11-1 1. 2. 3. 4. 5. The five steps in the decision process outlined in Exhibit 11-1 of the text are Identify the problem and uncertainties Obtain information Make predictions about the future Make decisi
CHAPTER 10 DETERMINING HOW COSTS BEHAVE 10-1 1. 2. The two assumptions are Variations in the level of a single activity (the cost driver) explain the variations in the related total costs. Cost behavior is approximated by a linear cost function within the
CHAPTER 9 INVENTORY COSTING AND CAPACITY ANALYSIS 9-1 No. Differences in operating income between variable costing and absorption costing are due to accounting for fixed manufacturing costs. Under variable costing only variable manufacturing costs are inc
CHAPTER 8 FLEXIBLE BUDGETS, OVERHEAD COST VARIANCES, AND MANAGEMENT CONTROL 8-1 Effective planning of variable overhead costs involves: 1. Planning to undertake only those variable overhead activities that add value for customers using the product or serv
CHAPTER 7 FLEXIBLE BUDGETS, DIRECT-COST VARIANCES, AND MANAGEMENT CONTROL 7-1 Management by exception is the practice of concentrating on areas not operating as expected and giving less attention to areas operating as expected. Variance analysis helps man
CHAPTER 6 MASTER BUDGET AND RESPONSIBILITY ACCOUNTING 6-1 a. b. c. d. The budgeting cycle includes the following elements: Planning the performance of the company as a whole as well as planning the performance of its subunits. Management agrees on what is
CHAPTER 5 ACTIVITY-BASED COSTING AND ACTIVITY-BASED MANAGEMENT 5-1 Broad averaging (or "peanut-butter costing") describes a costing approach that uses broad averages for assigning (or spreading, as in spreading peanut butter) the cost of resources uniform
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