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Buisness and Management

In: Business and Management

Submitted By rahma
Words 10435
Pages 42
Managerial Accounting
Brief Exercises 1 A Problems B Problems

Study Objectives *1. Explain the distinguishing features of managerial accounting. Identify the three broad functions of management. Define the three classes of manufacturing costs. Distinguish between product and period costs. Explain the difference between a merchandising and a manufacturing income statement. Indicate how cost of goods manufactured is determined. Explain the difference between a merchandising and a manufacturing balance sheet. Identify trends in managerial accounting. Prepare a worksheet and closing entries for a manufacturing company.

Questions 1, 2, 3

Do It! 1

Exercises 1


4, 5, 6, 7, 8 11, 12

2, 3



4, 5, 7


2, 3, 4, 5, 6 3, 4, 5, 7, 13 8, 12, 13, 14, 15, 17

1A, 2A

1B, 2B





1A, 2A

1B, 2B


9, 14

3A, 4A, 5A

3B, 4B, 5B


15, 16, 17, 18

8, 10, 11


8, 9, 10, 11, 12, 13, 14, 15, 16, 17 14, 15, 16, 17

3A, 4A, 5A

3B, 4B, 5B


10, 19, 20, 21


3A, 4A

3B, 4B


22, 23, 24 25, 26 27, 28, 29 12






*Note: All asterisked Questions, Exercises, and Problems relate to material contained in the appendix to the chapter.

Copyright © 2011 John Wiley & Sons, Inc.

Kimmel, Accounting, 4/e, Solutions Manual

(For Instructor Use Only)


Problem Number 1A Difficulty Level Simple Time Allotted (min.) 20–30

Description Classify manufacturing costs into different categories and compute the unit cost. Classify manufacturing costs into different categories and compute the unit cost. 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. Prepare a cost of goods manufactured schedule, a partial income statement, and a partial balance sheet....

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