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Managerial Accounting Tools for Business Decision Making, 9th Edition Solution Manual by Jerry J. Weygandt, Paul D. Kimmel, Verified Chapters 1 - 14, Complete Newest Version$20.99
Managerial Accounting Tools for Business Decision Making, 9th Edition Solution Manual by Jerry J. Weygandt, Paul D. Kimmel, Verified Chapters 1 - 14, Complete Newest Version
Managerial Accounting Tools for Business Decision Making, 9th Edition Solution Manual by Jerry J. Weygandt, Paul D. Kimmel, Verified Chapters 1 - 14, Complete Newest Version Solution Manual For Managerial Accounting Tools for Business Decision Making, 9th Edition by Jerry J. Weygandt, Paul D. Kimme...
1. Identify the features of managerial accounting and the functions of management.
xl xl xl xl xl xl xl xl xl xl
2. Describe the classes of manufacturing costs and the differences between product and per
xl xl xl xl xl xl xl xl xl xl xl xl
iodcosts. xl
3. Demonstrate how to compute cost of goods manufactured and prepare financial statements xl xl xl xl xl xl xl xl xl xl xl xl
for amanufacturer.
xl xl
4. Discuss trends in managerial accounting. xl xl xl xl
ANSWERS TO QUESTIONS xl xl
1. (a) Not true. Managerial accounting is a field of accounting that provides economic and financ
xl xl xl xl xl xl xl xl xl xl xl xl xl xl
ial information for managers and other internal users.
xl xl xl xl xl xl xl
(b) Joe is incorrect. Managerial accounting applies to all types of businesses—
xl xl xl xl xl xl xl xl xl xl
service, merchandising, and manufacturing. xl xl xl
LO1 BT: C Difficulty: Easy TOT: 3 min. AACSB: None AICPA FC: Measurement, Analysis and Interpretation IMA: Cost Management
x l xl x l xl x l xl xl xlxl xl x l xl xl xl xl xl xl xl xl
2. (a) Financial accounting is concerned primarily with external users such as stockholders, credit
xl xl xl xl xl xl xl xl xl xl xl xl
ors, and regulators. In contrast, managerial accounting is concerned primarily with intern
xl xl xl xl xl xl xl xl xl xl xl
al users such as officers and managers.
xl xl xl xl xl xl
(b) Financial statements are the end product of financial accounting. These statements are pr xl xl xl xl xl xl xl xl xl xl xl xl
epared quarterly and annually. In managerial accounting, internal reports may be prep
xl xl xl xl xl xl xl xl x l x l xl
ared as frequently as needed. xl xl xl xl
(c) The purpose of financial accounting is to provide general-
xl xl xl xl xl xl xl xl
purpose information for external users. The purpose of managerial accounting is to provi xl xl xl xl xl xl xl xl xl xl xl xl
, de special-purpose information for specific internal decisions.
xl xl xl xl xl xl
LO1 BT: C Difficulty: Easy TOT: 5 min. AACSB: None AICPA FC: Measurement, Analysis and Interpretation IMA: Cost Management
x l xl x l xl x l xl xl xlxl xl x l xl xl xl xl xl xl xl xl
3. Differences in the content of the reports are as follows:
xl xl xl xl xl xl xl xl xl
xl Financial xl Managerial
Pertains to business as a whole and ishi x l x l x l x l x l x l x l xl Pertains to subunits of the business an xl xl xl xl xl xl
ghly aggregated.
xl dmay be very detailed.
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Limited to accrual accounting and cost data.
xl xl xl xl xl xl Extends beyond accrual
Generally accepted accounting principles. xl xl xl accounting
system to any relevant data.
xl xl xl xl
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