Introduction to Managerial
How managerial accounting is used
Differences between service, merchandising and
Classifying costs for each type of firm
Preparing an income statement
Answer the following questions using the information below:
Apple Valley Corporation uses a job cost system and has two production departments, A
and B. Budgeted manufacturing costs for the year are:
Direct manufacturing labor
1) Fosnight Enterprises prepared the following sales budget:
The expected gross profit rate is 30% and the inventory at the end of February was
$10,000. Desired inventory levels at t
EXAM 1 (Fall2013) Version 2
The financial records for the Lee Manufacturing Company have been destroyed in a fire. The
following information has been obtained from a separate set of books maintained by the cost
EXAM 1 (Fall2013) Version 1
1. Selected financial information for Brookeville Manufacturing is
presented in the following table (000s omitted).
Purchases of direct materials
(20 min.) Learning curve, cumulative average-time learning model.
The direct manufacturing labor-hours (DMLH) required to produce the first 2, 4, and 8
units given the assumption of a cumulative average-time learning curve of 85%, is as
Paid-in capital is the total amount of cash and other assets paid in to the
corporation by stockholders in exchange for capital stock.
Retained earnings is net income that a corporation retains for future use.
Accounting for Common Stoc
1. Identify the major characteristics of a corporation.
2. Record the issuance of common stock.
3. Explain the accounting for treasury stock.
4. Differentiate preferred stock from common stock.
5. Prepare the entries for cash dividen
Consolidated Income Statement
Statement shows the results of operations of affiliated companies as
though they are one economic unit.
All intercompany revenue and expense transactions must be eliminated.
A worksheet facilitates the preparation of co
Discuss why corporations invest in debt and stock securities.
Explain the accounting for debt investments.
Explain the accounting for stock investments.
Describe the use of consolidated financial statements.
Indicate how debt and stock investm
Corporations, Earnings, Dividends
Distribution of cash or stock to stockholders on a pro rata (proportional) basis.
Types of Dividends:
Dividends expressed: (1) as a percentage of the par or stat
Cash Flow Operating Activities
EEDED: INCOME STATEMENT, COMPARATIVE BALANCE SHEETS, ADDL
PURPOSE OF THE OPERATING ACTIVITY SECTION IS TO CONVERT NET
INCOME FROM ACCRUAL BASIS TO CASH BASIS.
Begin with NET INCOME figure obtained from the Income Statem
For Financing Activities Section:
1. Using the comparative balance sheets, compute the changes in Long term
Liability and Equity accounts
2. Also look at any additional information that will help in calculating the cash impact
SOLUTION FOR QUIZ CH 10
The coefficient of determination is important in explaining variances in estimating equations. For
a certain estimating equation, the unexplained variation was given as 26,505. The total variation
was given as 46,500. What is th
EXAM 2 Fall 2013 Version 2
Answer questions 1-2 using the information below:
Poles Company, Inc. makes and sells a single product, Product R. Three
yards of Material K are needed to make one unit of Product R. Budgeted
RipCity Digital Customer Orders
To record orders from RipCity Digital customers
Price per DVD Charge
135 College Avenue
Synopsis (excerpts) of an Equity Analysts Research
Bank: Morgan Stanley
Analysts: Jay Sole, Joseph Wyatt
Date of report: 11/12/14
Investment Thesis: Ralph Lauren's strategic direction is evolving. Meeting
market EPS expectatio
EXAM 2 Fall 2013 Version 3
1. Superior Company's budgeted production in units and budgeted
raw materials purchases over the next three months are given
Two pounds of raw materials are required to produce one unit of
(30 min.) Direct materials and direct manufacturing labor variances.
Total price variance
Total efficiency variance
During October, the company budgeted for 6,700 units, but its actual level of Sales
Volume was 6,650 units. Data used in budgeting:
Actual results for October:
1. The direct labor in the Static budget for October would be
2. . The direct
materials in the
CHAPTER 5 QUIZ
1. Reach Consulting Corporation has its headquarters in Chicago and operates from three
branch offices in Portland, Dallas, and Miami. Two of the company's activity cost pools
are General Service and Research Service. These costs are alloca
(1015 min.) 4-variance analysis, fill in the blanks.
Underallocated (overallocated) MOH
Overhead variances, missing information.
In the columnar presentation of variable overhead variance analysis, all numbers
shown in bold are calculated from the given information, in the order (a) (e).
VARIABLE MANUFACTURING OVERHEAD
(Note: you may reorganize this into another format, but all of this information should be covered)
What issues are most important?
List in order.
For the OTHER SIDE: (note
Management Information System
Fall 2016 Section 07
Lastname_Firstname_Question1 replacing Lastname_Firstname with your name.
2. Name Sheet1 tab Online Sales and Name Sheet2 tab I
Chapter 10 -What Are The Levels Of Regional Economic Integration?
A free trade area eliminates all barriers to the trade of goods and services among member
European Free Trade Association (EFTA) - Norway, Iceland, Liechtenstein,