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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for its customers. Eco- Friendly “Life’s Good- When It’s Green”- this is a program of LG Electronics which includes two parts of procedures: pre- production and post-production. In thir vision‚ it is estimated that 15‚ 000 tons of pre-production and 30‚ 000‚000 tons of post-production stages of green gases should be reduced as their target in the near future. LG’s 47LW5500-ZE and 47LW550 TZCIN Ema 3D TVs have been announced the first Tvs in Europe which have the Carbon Trust enalbles to manage a
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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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Student Name: Class: Case 09-30 EARRINGS UNLIMITED Budgets April Requirement 1a. Sales budget: Budgeted sales in units Selling price per unit Total sales May June Quarter 65‚000 100‚000 50‚000 $10 $650‚000 Correct! Requirement 1b. Schedule of expected cash collections: February sales $26‚000 March sales 280‚000 April sales 130‚000 May sales June sales Total cash collections $436‚000 Correct! Requirement 1c. Merchandise purchases budget: Budgeted unit sales 65‚000 100‚000 Add desired ending inventory
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137 was started and completed during the year. What price would have been charged to the customer if the job required $3‚200 in materials and $4‚200 in direct labor cost‚ and the company priced its jobs at 40% above the job’s cost according to the accounting system? 5. Direct labor made up $8‚000 of the $40‚000 ending Work in Process inventory balance. Supply the information missing below: Direct materials . . . . . . . . . . . . . . . $ ? Direct labor . .
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ACC201 Principles of Managerial Accounting Assignment Type: Individual or Group Words: 1500 words for individual or 2800 or 4200 words for a group of two or three members‚ respectively. Presentation: Both hardcopy and softcopy should be presented on the due date. The hardcopy should handle to me and the softcopy to the Turnitin (as software to check out the plagiarism)by the due date. The instruction for how to submit to the Turnitin will be provided you later through my web space.
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Time Value of Money Q1. Mr. Sundaram is planning to retire this year. His company can pay him a lump sum retirement payments of Rs 2‚ 00‚000 or Rs 25‚000 life time annuity whichever he chooses. Mr. Sundaram is in good health and estimates to live for at least 20 more years. If his interest rate is 12%‚ which alternative should he choose? Ans Present Value of Annuity 25000*7.469*1.12 = 2‚09‚132 Which is greater than lump sum value of Rs. 2‚00‚000. So Annuity option is better
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5-5 Production Report‚ No Beginning Inventory Wantler Company Mixing Department ------------------------------------------------- Production Report for 2001 Unit Information Units to account for: Units in beginning WIP 0 Units started 75‚000 Units to account for 75‚000 Units accounted for: Equivalent Units Physical Direct Conversion Flow Materials Costs Units completed 75‚000 75‚000 75‚000 Units in ending WIP 12‚000
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Direct Materials Conversion Work in Process‚ June 1 50‚000 40% Units started during June 200‚000 Total units to account for 250‚000 Units completed & transferred Out during June 190‚000 100% 190‚000 190‚000 Work in Process‚ June 30 60‚000 60% 60‚000 36‚000 Total Equivalent Units 250‚000 250‚000 226‚000 3. Computation of Unit Costs Direct Materials Conversion Total Work in Process‚ June 1 $120‚000 $ 34‚400 $154‚400 Costs incurred during
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Required: 1. 2. 3. 4. 5. 6. Compute the cost of goods sold in September. Compute the balance in finished wooden beds inventory at September 30. Compute the total manufacturing overhead. What’s the amount of total manufacturing cost in September? Compute the balance in work-in-process inventory at September 30. Compute the balance in wood at September 30. 1 Problem Two Job-Order Costing (12 points) Anthony’s Furniture Inc. (Anthony’s) manufactures furniture in Mississauga. Anthony’s uses
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