Chapter 01 The Changing Role of Managerial Accounting in a Dynamic Business Environment True / False Questions 1. Controlling involves the coordination of daily business functions within an organization. True False 2. Measuring the performance of managers and subunits is not an objective of managerial accounting. True False 3. Middle-level managers would likely be considered internal users of accounting information rather than external users. True False
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Chapter 14 Multiple Choice—CPA Adapted 1. On July 1‚ 2012‚ Spear Co. issued 3‚000 of its 10%‚ $1‚000 bonds at 99 plus accrued interest. The bonds are dated April 1‚ 2012 and mature on April 1‚ 2022. Interest is payable semiannually on April 1 and October 1. What amount did Spear receive from the bond issuance? a. $3‚045‚000 b. $3‚000‚000 c. $2‚970‚000 d. $2‚895‚000 2. On January 1‚ 2012‚ Solis Co. issued its 10% bonds in the face amount of $4‚000‚000‚ which mature on January 1‚ 2022. The
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CHAPTER 14 DIVIDENDS AND DIVIDEND POLICY Solutions to Questions and Problems Basic NOTE: All end-of-chapter problems were solved using a spreadsheet. Many problems require multiple steps. Due to space and readability constraints‚ when these intermediate steps are included in this solutions manual‚ rounding may appear to have occurred. However‚ the final answer for each problem is found without rounding during any step in the problem. 1. With no taxes we would expect the stock price to drop by exactly
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Chapter 14 Student: ___________________________________________________________________________ 1. Proctor and Gamble was able to get Joy into Japanese homes through all of the following except A. product formula targeted at the unmet needs of the consumers. B. significantly low price to drive the competitors out. C. compelling advertising campaigns. D. packaging that appealed to retailers. E. None of these answers is correct 2. A(n) _____________ marketing strategy that views the world’s consumers
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Problem 19-2: Vt. Sugar Enterprises Given: Syrup Sugar Total Units produced 20‚000 1‚000 21‚000 Unit selling price $15.00 $2.00 Total process costs: After split-off $12‚000 $280 $12‚280 Joint costs $100‚000 a. Calculate the cost of the syrup if the sugar is considered a by-product and the gross margin from its sale is considered to be a reduction of syrup costs. Products Sales Value Costs beyond split-off Difference Joint costs allocation Syrup $300‚000 12‚000 288‚000
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1. The Allen Company uses a job-order costing system. The following activity took place during the month of March: Required: Prepare journal entries to record the information above. Key your entries by the letters a through i. Assume all purchases are made on account. 1 2 2. Hirpara Inc. has provided the following data for July: Required: Prepare T-accounts for Raw Materials‚ Work in Process‚ Finished Goods‚ and Manufacturing Overhead‚ and Cost of Goods Sold. Record the beginning
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Problem One Cost Concepts and Cost Flow (8 points) The following information is from MM wooden bed Co. for September: Wood used in production Carpenters salary Factory supervisors salary Factory security guard and janitor salary Sales persons salary CEO and CFO salary Advertisement expense Depreciation of factory equipment Factory utilities Oil and lubricants for factory equipment‚ and other miscellaneous materials used in production Wood inventory‚ Sept. 1 Work-in-process inventory
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BBUS2541 – ASSIGNMENT #3 Q1 – Exercise 4-18 Percentage of Physical Completion w/respect Equivalent Units Units to conversion Direct Material Conversion Work in Process‚ October 1 1‚000 40% Units Started during October 5‚000 Total Units to account for 6‚000 Units from beginning WIP‚ completed & transferred out during October 1‚000 100% 1‚000 1‚000 Units started & completed during Oct 3‚000 3‚000 3‚000 Work in Process‚ Oct 31 (20% as to con) 2
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EBF2043‚ Sem 2‚ 2012/13 Group Assignment AstaPack manufactures medicines that are related to allergy sickness which is packaged into the Breathe product line and the TravelPack line. The company sells large commercial containers of 1‚200 capsules to health care facilities and travel packs of 40 capsules to shops in airports and hotels. The finance manager has just returned from an ABC seminar and has been asked to assist in the development of an ABC system in the organization. The following
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1) Before answering this question lets review the job and process costing sytems: Job order cost system: • Jobs are assigned to each job or batch • A job may be for a specific order of inventory Process cost system : • This cost system is generally used when a large volume of similar products are manufactured Answers: a. A custom yacht builder – job order costing b. A golf course designer – job order costing c. A potato chip
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