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# Stats Essay

9978 words - 40 pages

CHAPTER 1
Managerial Accounting
ASSIGNMENT CLASSIFICATION TABLE
Learning 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. Questions 1, 2, 3 Brief Exercises 1 Do It! 1 Exercises 1 A Problems B Problems

*2.

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

2, 3

1

*3.

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. Prepare a cost of goods manufactured schedule and a correct income statement. Difficulty Level Simple Simple Moderate Time Allotted (min.) 20–30 20–30 30–40

4A 5A 1B 2B 3B

Moderate Moderate Simple Simple Moderate

30–40 30–40 20–30 20–30 30–40

4B 5B

Moderate Moderate

30–40 30–40

1-2

Weygandt, Managerial Accounting, 6/e, Solutions Manual

(For Instructor Use Only)

Correlation Chart between Bloom’s Taxonomy, Learning Objectives and End-of-Chapter Exercises and Problems
Knowledge Comprehension Q1-1 BE1-1 Q1-2 DI1-1 Q1-3 E1-1 Q1-4 Q1-5 Q1-6 Q1-7 Q1-11 DI1-2 E1-2 E1-3 E1-6 P1-2B E1-3 E1-4 E1-5 E1-7 E1-8 E1-12 E1-13 Q1-15 Q1-16 Q1-17 Q1-18 BE1-8 BE1-10 BE1-11 E1-15 BE1-9 E1-14 E1-16 Q1-26 DI1-4 E1-18 BYP1-4 BYP1-1 BYP1-2 BYP1-3 BYP1-5 BYP1-6 BYP1-7 BYP1-8 BYP1-9 DI1-3 E1-8 E1-9 E1-10 E1-11 E1-12 E1-13 E1-14 E1-17 P1-4A P1-4B E1-13 P1-1A P1-2A P1-1B P1-2B P1-3A P1-5A P1-3B E1-14 E1-16 E1-17 P1-4A P1-4B E1-10 E1-11 P1-3A P1-5A P1-3B P1-5B E1-17 P1-4A P1-4B P1-3A P1-3B P1-5B E1-4 E1-5 P1-1A P1-2A P1-1B Q1-8 BE1-2 BE1-3 DI1-1 Application Analysis Synthesis Evaluation

Learning Objective * 1. Explain the distinguishing features of managerial accounting.

BLOOM’S TAXONOMY TABLE

* 2. Identify the three broad functions of management.

* 3. Define the three classes of manufacturing costs.

* 4. Distinguish between product and period costs. Q1-9 Q1-14 E1-15 E1-15

Q1-12 BE1-4 BE1-5 BE1-7 Q1-13 BE1-6 DI1-2

* 5. Explain the difference between a merchandising and a manufacturing income statement.

* 6. Indicate how cost of goods manufactured is determined.

Weygandt, Managerial Accounting, 6/e, Solutions Manual

* 7. Explain the difference between a merchandising and a manufacturing balance sheet. Q1-19 Q1-22 Q1-23 Q1-24 Q1-25

Q1-10 Q1-20 Q1-21

* 8. Identify trends in managerial accounting.

(For Instructor Use Only)

1-3

1. (a) Disagree. Managerial accounting is a field of accounting that provides economic and financial information for managers and other internal users. (b) Joe is incorrect. Managerial accounting applies to all types of businesses—service, merchandising, and manufacturing. (a) (b) (c) Financial accounting is concerned primarily with external users such as stockholders, creditors, and regulators. In contrast, managerial accounting is concerned primarily with internal users such as officers and managers. Financial...

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