VanDerbeck15e Ch01

CHAPTER 1INTRODUCTION TO COST ACCOUNTING
MULTIPLE CHOICE
1. The business entity that converts purchased raw materials into finished goods by using labor,
technology, and facilities is a:
a. Manufacturer.
b. Merchandiser.
c. Service business.
d. Not-for-profit service agency.
NS:
The business entity that converts purchased raw materials into finished goods by using labor,
technology, and facilities is a manufacturer.
!TS: 1 "#$: %asy &%$: !. '(): #ntroduction
NT: #M * - (usiness pplications T'!: +S( - nalytic
,. The business entity that purchases finished goods for resale is a:
a. Manufacturer.
b. Merchandiser.
c. Service business.
d. $or-profit service business.
NS: (
The business entity that purchases finished goods for resale is a merchandiser.
-. The type of merchandiser who purchases goods from the producer and sells to stores who sell to the
consumer is a:
a. Manufacturer.
b. &etailer.
c. .holesaler.
d. Service business.
NS: +
The type of merchandiser that purchases goods from the producer and sells to the retailer is a
wholesaler.
*. %/amples of service businesses include:
a. irlines, architects, and hair stylists.
b. "epartment stores, poster shops, and wholesalers.
c. ircraft producers, home builders, and machine tool ma0ers.
d. None of these are correct.
NS:
%/amples of service businesses include airlines, architects, and hair stylists.
!TS: 1 "#$: Moderate &%$: !. '(): #ntroduction
NT: #M * - (usiness pplications T'!: +S( - &eflective
1. #S' 2333 is a set of international standards for:
a. determining the selling price of a product.
b. cost control.
c. 4uality management.
d. planning,
NS: +
#S' 2333 is a set of international standards for 4uality management.
NT: #M - - Strategic !lanning T'!: +S( - nalytic
5. 6nit cost information is important for ma0ing all of the following mar0eting decisions except:
a. "etermining the selling price of a product.
b. (idding on contracts.
c. "etermining the amount of advertising needed to promote the product.
d. "etermining the amount of profit that each product earns.
NS: +
6nit cost information is used in determining selling price, bidding on contracts and determining
product profitability, but would not have a bearing on determining how much the product would need
to be advertised.
!TS: 1 "#$: Moderate &%$: !. '(): 1
NT: #M -( - Strategic Mar0eting T'!: +S( - nalytic
7. The process of establishing ob8ectives or goals for the firm and determining the means by which they
will be met is:
a. controlling.
b. analy9ing profitability.
c. planning.
d. assigning responsibility.
NS: +
The process of establishing goals and ob8ectives for a firm is planning. +ontrolling, analy9ing
profitability and assigning responsibility are functions that ta0e place after the planning process to
determine whether or how successfully goals have been obtained.
!TS: 1 "#$: %asy &%$: !. '(): 1
NT: #M , - (udget !reparation T'!: +S( - nalytic
:. +ontrol is the process of monitoring the company;s operations to determine whether the company;s
ob8ectives are being achieved. %ffective control is achieved through all of the following except:
a. periodically measuring and comparing company results.
b. assigning responsibility for costs to employees responsible for those costs.
c. constantly monitoring employees to ensure they do e/actly as they are told.
d. ta0ing necessary corrective action when variances warrant doing so.
NS: +
.hile periodically measuring and comparing company results, assigning responsibility for those
results to employees and ta0ing necessary corrective action are all part of control< it does not include
constantly monitoring employees to ma0e sure they are following directions.
!TS: 1 "#$: Moderate &%$: !. '(): 1
NT: #M ," - !erformance Measurement T'!: +S( - nalytic
2. aron Smith is the supervisor of the Machining "epartment of (ennett +orporation. =e has control
over and is responsible for manufacturing costs traced to the department. The Machining "epartment
is an e/ample of a>n?:
a. cost center.
b. inventory center.
c. supervised wor0 center.
d. wor0er;s center.
NS:
The criteria for a cost center are 1? a reasonable basis on which manufacturing costs may be traced and
,? a person who has control over and is accountable for many of the costs charged to that center.
!TS: 1 "#$: Moderate &%$: !. '(): 1
NT: #M ," - !erformance Measurement T'!: +S( - &eflective
13. .hich of the following items of cost would be least li0ely to appear on a performance report based on
responsibility accounting for the supervisor of an assembly line in a large manufacturing situation@
a. "irect labor
b. #ndirect materials
c. Selling e/penses
d. &epairs and maintenance
NS: +
Selling e/penses would be least li0ely to appear on a performance report, because the supervisor
would not have responsibility for the sales function.
!TS: 1 "#$: Moderate &%$: !. '(): 1
11. .hich of the following items of cost would be least li0ely to appear on a performance report based on
responsibility accounting for the supervisor of an assembly line in a large manufacturing situation@
a. "irect labor
b. SupervisorAs salary
c. Materials
d. &epairs and maintenance
NS: (
supervisorAs salary would be least li0ely to appear on a performance report, because that personAs
salary is determined by the company and is not controllable by the supervisor.
!TS: 1 "#$: =ard &%$: !. '(): 1
1,. &esponsibility accounting would most li0ely hold a manager of a manufacturing unit responsible for:
a. cost of raw materials.
b. 4uantity of raw materials used.
c. the number of units ordered.
d. amount of ta/es incurred.
NS: (
#n responsibility accounting the manager of a cost center is only responsible for those costs and
activities that manager controls. manufacturing manager would not li0ely be responsible for the
cost of the materials >the purchasing manager would have that responsibility?, the number of units
ordered >that would be driven by demand? or the ta/es incurred.
!TS: 1 "#$: Moderate &%$: !. '(): 1
1-. .hich of the following statements best describes a characteristic of a performance report prepared for
use by a production line department head@
a. The costs in the report should include only those controllable by the department head.
b. The report should be stated in dollars rather than in physical units so the department head
0nows the financial magnitude of any variances.
c. The report should include information on all costs chargeable to the department,
regardless of their origin or control.
d. #t is more important that the report be precise than timely.
NS:
The performance report should include only those costs controllable by the department head. #t should
also be timely and should include production data as well as dollar amounts.
!TS: 1 "#$: %asy &%$: !. '(): 1
1*. )oshua +ompany prepares monthly performance reports for each department. The budgeted amounts
of wages for the $inishing "epartment for the month of ugust and for the eight-month period ended
ugust -1 were B1,,333 and B133,333, respectively. ctual wages paid through )uly were B21,133,
and wages for the month of ugust were B11,:33. The month and year-to-date variances, respectively,
for wages on the ugust performance report would be:
a. B,33 $< B:,133 $
b. B,33 $< B-,-33 6
c. B,33 6< B-,-33 6
d. B,33 6< B:,133 $
NS: (
+alculation of monthly variance:
(udgeted wages for ugust
$12,000
ctual wages for ugust
11,800
Cariance for ugust
$ 200 F
+alculation of year-to-date variance:
(udgeted wages for the eight-month period ended ugust -1
$100,000
ctual wages for the eight-month period ended ugust -1 >21,133 D 11,:33?
103,300
Cariance for eight-month period ended ugust -1
$ 3,300 U
!TS: 1 "#$: Moderate &%$: !. '(): 1
11. s a result of recent accounting scandals involving companies such as %nron and .orld +om, the
Sarbanes-'/ley ct of ,33, was written to protect shareholders of public companies by improving
a. management accounting.
b. corporate governance.
c. professional competence.
d. the corporate legal process.
NS: (
The Sarbanes-'/ley act was written primarily to improve the corporate governance of publicly held
companies.
!TS: 1 "#$: Moderate &%$: !. '(): ,
NT: #M * - (usiness pplications T'!: +S( - %thics
15. .hich of the following is not a 0ey element of the Sarbanes '/ley ct to improve corporate
governance@
a. The establishment of the !ublic +ompany ccounting 'versight (oard
b. &e4uiring a company;s annual report to contain an internal control report that includes
management;s opinion on the effectiveness of internal control
c. Severe criminal penalties for retaliation against EwhistleblowersF
d. &e4uiring that the company;s performance reports are prepared in accordance with
generally accepted accounting principles
NS: "
The Sarbanes-'/ley ct does not re4uire that companies prepare performance reports in accordance
with generally accepted accounting principles.
!TS: 1 "#$: Moderate &%$: !. '(): ,
17. +ost accounting differs from financial accounting in that financial accounting:
a. #s mostly concerned with e/ternal financial reporting.
b. #s mostly concerned with individual departments of the company.
c. !rovides the additional information re4uired for special reports to management.
d. !uts more emphasis on future operations.
NS:
#tems >b? through >d? are characteristics of cost accounting, whereas #tem >a? is a feature of financial
accounting.
!TS: 1 "#$: Moderate &%$: !. '(): -
NT: #M ,% - %/ternal $inancial &eporting T'!: +S( - &eflective
1:. Taylor Gogan is an accountant with the Tanner +orporation. Taylor;s duties include preparing reports
that focus on both historical and estimated data needed to conduct ongoing operations and do long-
range planning. Taylor is a>n?
a. certified financial planner.
b. management accountant.
c. financial accountant.
d. auditor.
NS: (
management accountant prepares reports that focus on both historical and estimated data that are
used to conduct ongoing operations and do long-range planning. $inancial accountants prepare
financial statements needed by e/ternal users to evaluate a business, while auditors conduct
e/aminations on those financial statements. certified financial planner is a consultant that helps
individuals with financial planning, including investment advice.
!TS: 1 "#$: %asy &%$: !. '(): -
NT: #M * - (usiness pplications T'!: +S( - &eflective
12. The following data were ta0en from Mansfield Merchandisers on )anuary -1:
Merchandise inventory, )anuary 1
$ 90,000
Sales salaries
35,000
Merchandise inventory, )anuary -1
65,000
!urchases
560,000
.hat was the +ost of goods sold in )anuary@
a. B1:1,333
b. B513,333
c. B5,3,333
d. B1-1,333
NS:
Merchandise #nventory, )anuary 1
$ 90,000
!lus !urchases
560,000
Merchandise vailable for Sale
$650,000
Gess Merchandise #nventory, )anuary -1
65,000
+ost of Hoods Sold
$585,000
!TS: 1 "#$: Moderate &%$: !. '(): -
NT: #M ,( - +ost Management T'!: +S( - nalytic
,3. 6mberg Merchandise +ompany;s cost of goods sold last month was B1,-13,333. the Merchandise
#nventory at the beginning of the month was B,13,333 and there was B-,1,333 of Merchandise
#nventory at the end of the month. 6mberg;s merchandise purchases were:
a. B1,-13,333
b. B1,,71,333
c. B1,*,1,333
d. B1,571,333
NS: +
Merchandise purchases added to Merchandise #nventory at the beginning of the month results in the
merchandise available for sale. t the end of the month, these goods either remain in Merchandise
#nventory or are sold, which results in +ost of Hoods Sold, so the total of ending Merchandise
#nventory and +ost of Hoods Sold is also the merchandise available for sale. Therefore, the e4uation
can be rearranged to compute the merchandise purchases as follows:
+ost of Hoods Sold
$1,350,000
!lus %nding Merchandise #nventory
325,000
1,675,000
Gess (eginning Merchandise #nventory
250,000
Merchandise !urchases
$1,425,000
!TS: 1 "#$: =ard &%$: !. '(): -
,1. shley +orp. had finished goods inventory of B13,333 and B53,333 at pril 1 and pril -3,
respectively, and cost of goods manufactured of B171,333 in pril. +ost of goods sold in pril was:
a. B151,333
b. B171,333
c. B1:1,333
d. B,,1,333
NS:
$inished Hoods #nventory, pril 1
$ 50,000
!lus +ost of Hoods Manufactured
175,000
$inished Hoods vailable for Sale
225,000
$inished Hoods #nventory, pril -3
60,000
+ost of Hoods Sold
$165,000
!TS: 1 "#$: Moderate &%$: !. '(): -
,,. The balance in Iayser Manufacturing +ompany;s $inished Hoods account at November -3 was
B:,1,333. #ts November cost of goods manufactured was B,,-13,333 and its cost of goods sold in
November was B,,*11,333. .hat was the balance in Iayser;s $inished Hoods at November 1@
a. B*-1,333
b. B5*3,333
c. B713,333
d. B2-3,333
NS: "
+ost of goods manufactured added to $inished Hoods at the beginning of the month results in the
finished goods available for sale. t the end of the month, these goods either remain in $inished
Hoods or are sold, which results in +ost of Hoods Sold, so the total of ending $inished Hoods and +ost
of Hoods Sold is also the finished goods available for sale. Therefore, the e4uation can be rearranged
to compute the beginning balance in $inished Hoods as follows:
+ost of Hoods Sold
$2,455,000
!lus $inished Hoods #nventory, November -3
825,000
$inished Hoods vailable for Sale
3,280,000
Gess +ost of Hoods Manufactured
2,350,000
$inished Hoods #nventory, November 1
$ 930,000
!TS: 1 "#$: =ard &%$: !. '(): -
,-. #nventory accounts for a manufacturer include all of the following except:
a. Merchandise #nventory.
b. $inished Hoods.
c. .or0 in !rocess.
d. Materials.
NS:
#nventory accounts for a manufacturer include Materials, .or0 in !rocess, and $inished Hoods.
Merchandise #nventory is the inventory account for a merchandiser.
!TS: 1 "#$: %asy &%$: !. '(): -
,*. $or a manufacturer, the total cost of manufactured goods completed but still on hand is:
b. $inished Hoods.
c. .or0 in !rocess.
d. Materials.
NS: (
Merchandise #nventory refers to inventory held by a merchandising operation. $inished goods are
goods completed, but still on hand, while .or0 in !rocess are goods which have been started and are
in various stages of production, but are not yet completed. Materials are items which have been
purchased and on hand to be used in the manufacturing process, but have not yet been issued into
production.
!TS: 1 "#$: %asy &%$: !. '(): -
,1. $or a manufacturer, manufacturing costs incurred to date for goods in various stages of production, but
not yet completed is:
b. $inished Hoods.
c. .or0 in !rocess.
d. Materials.
NS: +
production.
!TS: 1 "#$: %asy &%$: !. '(): -
,5. $or a manufacturer, the cost of all materials purchases and on hand to be used in the manufacturing
process is:
b. $inished Hoods.
c. .or0 in !rocess.
d. Materials.
NS: "
production.
!TS: 1 "#$: %asy &%$: !. '(): -
,7. #n the financial statements, Materials should be categori9ed as:
a. &evenue.
b. %/penses.
c. ssets.
d. Giabilities.
NS: +
Materials are included in inventory, which is an asset on the balance sheet because it has a future
benefit.
!TS: 1 "#$: Moderate &%$: !. '(): -
NT: #M ,% - %/ternal $inancial &eporting T'!: +S( - &eflective
,:. >n? JJJJJJJJJJ re4uires estimating inventory balances during the year for interim financial
statements and shutting down operations to count all inventory items at the end of the year.
a. periodic inventory system
b. inventory control account
c. perpetual inventory system
d. inventory cost method
NS:
periodic inventory system re4uires a company to ma0e estimates of inventory balances throughout
the year, and a complete physical count of inventory at the end of the year. perpetual inventory
system provides a continuous record of purchases, issues and inventory balances. The inventory
balances are verified with periodic counts of selected inventory items throughout the year.
!TS: 1 "#$: %asy &%$: !. '(): -
,2. .itt +ompany, li0e most manufacturers, maintains a continuous record of purchases, materials issued
into production and balances of all goods in stoc0, so that inventory valuation data is available at any
time. This is an e/ample of a>n?
a. perpetual inventory system.
b. inventory control account.
c. periodic inventory system.
d. inventory cost method.
NS:
perpetual inventory system maintains a continuous record of purchases, issues and inventory
balances. periodic inventory system re4uires a physical count of all inventory at the end of the year
and estimates of inventory balances throughout the year when preparing interim financial statements.
!TS: 1 "#$: %asy &%$: !. '(): -
NT: #M ,( - +ost Management T'!: +S( - &eflective
-3. .hich of the following is most li0ely to be considered an indirect material in the manufacture of a
sofa@
a. Gumber
b. Hlue
c. $abric
d. $oam rubber
NS: (
.hile glue would be included in the finished product, its cost would be relatively insignificant,
therefore, it would not be cost effective to trace its cost to specific products.
!TS: 1 "#$: Moderate &%$: !. '(): *
-1. The Mac0e +ompany;s payroll summary showed the following in November:
Sales department salaries
$10,000
Supervisor salaries
20,000
ssembly wor0ers; wages
25,000
Machine operators; wages
35,000
Maintenance wor0ers; wages
15,000
ccounting department salaries
5,000
.hat is the amount that would be included in direct labor in November@
a. B,1,333
b. B53,333
c. B21,333
d. B1,3,333
NS: (
ssembly wor0ers and machine operators would be considered direct labor.
$25,000
35,000
Total direct labor
$60,000

The supervisors and maintenance wor0ers would be included in overhead, while the sales and
accounting department salaries would be included in selling and administrative e/pense.
!TS: 1 "#$: Moderate &%$: !. '(): *
-,. The Mac0e +ompany;s payroll summary showed the following in November:
Sales department salaries
$10,000
Supervisor salaries
20,000
25,000
35,000
15,000
ccounting department salaries
5,000
.hat is the amount that would be included in factory overhead in November@
a. B,3,333
b. B-1,333
c. B21,333
d. B1,3,333
NS: (
The supervisors; salaries and maintenance wor0ers; wages would be included in factory overhead.
Supervisors; salaries
$20,000
15,000
Total direct labor
$35,000

The wages of the assembly wor0ers and machine operators would be included in direct labor, while the
sales and accounting department salaries would be included in selling and administrative e/pense.
!TS: 1 "#$: Moderate &%$: !. '(): *
--. $actory overhead includes:
a. #ndirect labor but not indirect materials.
b. #ndirect materials but not indirect labor.
c. ll manufacturing costs, e/cept indirect materials and indirect labor.
d. ll manufacturing costs, e/cept direct materials and direct labor.
NS: "
$actory overhead includes all manufacturing costs e/cept direct materials and direct labor.
!TS: 1 "#$: %asy &%$: !. '(): *
-*. typical factory overhead cost is:
a. $reight out.
b. Stationery and printing.
c. "epreciation on machinery and e4uipment.
d. !ostage.
NS: +
"epreciation on machinery and e4uipment is a factory overhead cost because it is a manufacturing cost
that is not direct labor or direct material. The other three items are mar0eting or administrative
e/penses.
!TS: 1 "#$: Moderate &%$: !. '(): *
-1. $actory overhead would include:
a. .ages of office cler0.
b. Sales manager;s salary.
c. Supervisor;s salary.
d. Ta/ accountant;s salary.
NS: +
The supervisor;s salary is considered indirect labor because the supervisor is re4uired for the
manufacturing process, but does not wor0 directly on the units being manufactured. #ndirect labor is
included in factory overhead. The office cler0;s wages, sales manager;s salary and ta/ accountant;s
salary are mar0eting or administrative costs.
!TS: 1 "#$: Moderate &%$: !. '(): *
-5. The term Kprime costK refers to:
a. The sum of direct labor costs and all factory overhead costs.
b. The sum of direct material costs and direct labor costs.
c. ll costs associated with manufacturing other than direct labor costs and direct material
costs.
d. Manufacturing costs incurred to produce units of output.
NS: (
The term Kprime costK refers to the sum of direct materials costs and direct labor costs.
!TS: 1 "#$: %asy &%$: !. '(): *
-7. The following data are from (urton +orporation, a manufacturer, for the month of September:
"irect materials used
$135,000
6,000
200,000
Sales office rent and utilities
22,000
Machine depreciation
35,000
Secretary to the +hief %/ecutive 'fficer salary
3,000
$actory insurance
15,000
+ompute the prime costs.
a. B-**,333
b. B1-1,333
c. B--1,333
d. B,15,333
NS: +
!rime costs include direct materials and direct labor. 'f the salaries and wages listed, only the wages
of the machine operators would be considered direct labor as they are the only employees listed who
would actually wor0 on the products themselves.
$135,000
200,000
Total prime costs
$335,000
!TS: 1 "#$: Moderate &%$: !. '(): *
-:. The term Kconversion costsK refers to:
a. The sum of direct labor costs and all factory overhead costs.
b. The sum of direct material costs and direct labor costs.
c. ll costs associated with manufacturing other than direct labor costs.
d. "irect labor costs incurred to produce units of output.
NS:
The term Kconversion costsK refers to the sum of direct labor costs and all factory overhead costs.
!TS: 1 "#$: %asy &%$: !. '(): *
-2. The following data are from (urton +orporation, a manufacturer, for the month of September:
$135,000
6,000
200,000
Sales office rent and utilities
22,000
35,000
Secretary to the +hief %/ecutive 'fficer salary
3,000
$actory insurance
15,000
+ompute the conversion costs.
a. B--1,333
b. B,32,333
c. B,:1,333
d. B,15,333
NS: "
+onversion costs include direct labor and factory overhead costs, including indirect labor. 'f the
salaries and wages listed, only the machine operators are considered direct labor as they are the only
employees listed who would actually wor0 on the products themselves. The supervisors are
considered factory overhead because their efforts are essential to the manufacturing process, however
they do not actually wor0 on the products themselves. The sales office costs and the salary of the
secretary would be mar0eting and administrative e/penses as they do not contribute to the
manufacturing process.
$200,000
6,000
35,000
$actory insurance
15,000
Total conversion costs
$256,000
!TS: 1 "#$: Moderate &%$: !. '(): *
*3. !ayroll is debited and .ages !ayable is credited to:
a. !ay the payroll ta/es.
b. &ecord the payroll.
c. !ay the payroll.
d. "istribute the payroll.
NS: (
.hen the payroll is recorded, !ayroll is debited and .ages !ayable is credited. .hen payroll ta/es
are paid, the various liability accounts are debited and +ash is credited. .hen the payroll is paid,
.ages !ayable is debited and +ash is credited. .hen the payroll is distributed, .or0 in !rocess,
$actory 'verhead, and Selling and dministrative %/penses are debited and !ayroll is credited.
!TS: 1 "#$: Moderate &%$: !. '(): 1
*1. .hich of the following is not a cost that is accumulated in .or0 in !rocess@
a. "irect materials
b. dministrative e/pense
c. "irect labor
d. $actory overhead
NS: (
dministrative e/pense is not a manufacturing cost, so it would not be included in .or0 in !rocess.
!TS: 1 "#$: %asy &%$: !. '(): 1
*,. t a certain level of operations, per unit costs and selling price are as follows: manufacturing costs,
B13< selling and administrative e/penses, B13< selling price, B:3. Hiven this information, the mar0-on
percentage to manufacturing cost used to determine selling price must have been:
a. *3 percent.
b. 53 percent.
c. -- percent.
d. ,1 percent.
NS: (
Selling price - Manufacturing costs L Mar0-on percentage
Manufacturing costs
B:3 - B13
L 53M
B13
!TS: 1 "#$: Moderate &%$: !. '(): 1
*-. Mountain +ompany produced ,3,333 blan0ets in )une to be sold during the holiday season. The
manufacturing costs were:
"irect materials
$125,000
"irect labor
55,000
$actory overhead
60,000
Selling e/pense
25,000
dministrative e/pense
30,000
The cost per blan0et is:
a. B5.,1.
b. B2.33.
c. B1,.33.
d. B1*.71.
NS: +
"irect materials
$125,000
"irect labor
55,000
$actory overhead
60,000
Total manufacturing costs
$240,000
B,*3,333 N ,3,333 units L B1,.33 cost per unit
!TS: 1 "#$: Moderate &%$: !. '(): 1
**. Mountain +ompany produced ,3,333 blan0ets in )une to be sold during the holiday season. The
manufacturing costs were:
"irect materials
$125,000
"irect labor
55,000
$actory overhead
60,000
Management has decided that the mar0-on percentage necessary to cover the product;s share of selling
and administrative e/penses and to earn a satisfactory profit is -3M. The selling price per blan0et
should be:
a. B1,.33.
b. B11.53.
c. B,-.53.
d. B-1.,3.
NS: (
"irect materials
$125,000
"irect labor
55,000
$actory overhead
60,000
$240,000
B,*3,333 N ,3,333 units L B1,.33 cost per unit
B1,.33 / -3M L B-.53 D B1,.33 L B11.53
!TS: 1 "#$: =ard &%$: !. '(): 1
*1. The statement of costs of goods manufactured shows:
a. 'ffice supplies used in accounting office.
b. "eprecation of factory building.
c. Salary of sales manager.
d. &ent paid on finished goods warehouse.
NS: (
The depreciation of the factory building is a cost necessary to manufacture goods. The office supplies,
sales manager;s salary and warehouse rent are mar0eting and administrative costs and would not be
included in the Statement of +ost of Hoods Manufactured.
!TS: 1 "#$: =ard &%$: !. '(): 1
*5. Selected data concerning the past fiscal yearAs operations >333As omitted? of the Stanley Manufacturing
+ompany are presented below:
#NC%NT'&#%S
(eginning %nding
Materials
$ 90 $ 85
.or0 in process
50 65
$inished goods
100 90
'ther data:
$365
Total manufacturing costs charged to production during
the year >includes direct materials, direct labor, and factory
overhead?
680
+ost of goods available for sale
765
Selling and general e/penses
250
ssuming Stanley does not use indirect materials, the cost of materials purchased during the year
amounted to:
a. B*11.
b. B*13.
c. B-51.
d. B-53.
NS: "
Materials purchased added to Materials inventory at the beginning of the month results in the materials
available for use. "uring the year, the materials are used or they remain in the Materials inventory at
the end of the year, so the total of materials used and ending Materials inventory is also the total of the
amount of materials available. Therefore, the e4uation can be rearranged to compute the materials
purchases as follows:
$365
dd ending inventory of materials
85
Materials available during the year
$450
Gess beginning inventory of materials
90
!urchases of materials during the year
$360
!TS: 1 "#$: =ard &%$: !. '(): 1
*7. Selected data concerning the past fiscal yearAs operations >333As omitted? of the Stanley Manufacturing
#NC%NT'&#%S
(eginning %nding
Materials
$ 90 $ 85
.or0 in process
50 65
$inished goods
100 90
'ther data:
$365
overhead?
680
765
250
The cost of goods manufactured during the year was:
a. B7-1.
b. B713.
c. B551.
d. B731.
NS: +
(eginning wor0 in process inventory
$ 50
dd total manufacturing costs during the year
680
Total
$730
Gess ending wor0 in process inventory
65
+ost of goods manufactured during the year
$665
!TS: 1 "#$: Moderate &%$: !. '(): 1
*:. Selected data concerning the past fiscal yearAs operations >333As omitted? of the Stanley Manufacturing
#NC%NT'&#%S
(eginning %nding
Materials
$ 90 $ 85
.or0 in process
50 65
$inished goods
100 90
'ther data:
$365
overhead?
680
765
250
The cost of goods sold during the year was:
a. B7-3.
b. B771.
c. B571.
d. B751.
NS: +
(eginning finished goods inventory
$100
dd cost of goods manufactured during the year >B5:3 D B13 - B51?
665
Total cost of goods available for sale
$765
Gess ending finished goods inventory
90
+ost of goods sold during the year
$675
!TS: 1 "#$: =ard &%$: !. '(): 1
*2. .hich of the following production operations would be most li0ely to employ a 8ob order system of
cost accounting@
a. +andy manufacturing
b. +rude oil refining
c. !rinting te/t boo0s
d. $lour Milling
NS: +
!rinting would be most li0ely to employ a 8ob order system of cost accounting due to the number of
custom 8obs involved. The manufacture of candy, the vulcani9ing of rubber, and the refining of crude
oil would normally be a continuous process of producing li0e goods and would be accounted for under
the process cost system.
!TS: 1 "#$: Moderate &%$: !. '(): 5
13. law firm wanting to trac0 the costs of serving different clients may use a:
a. process cost system.
b. 8ob order cost system.
c. cost control system.
d. standard cost system.
NS: (
!rofessional firms use 8ob order cost systems to trac0 the costs of serving different clients.
!TS: 1 "#$: Moderate &%$: !. '(): 5
11. .hen should process costing techni4ues be used in assigning costs to products@
a. #n situations where standard costing techni4ues should not be used
b. #f products manufactured are substantially identical
c. .hen production is only partially completed during the accounting period
d. #f products are manufactured on the basis of each order received
NS: (
!rocess costing techni4ues should be used in assigning costs to products if the product is composed of
mass-produced units that are substantially identical.
!TS: 1 "#$: %asy &%$: !. '(): 5
1,. n industry that would most li0ely use process costing procedures is:
a. (everage.
b. =ome +onstruction.
c. !rinting.
d. Shipbuilding.
NS:
(everage production usually consists of continuous output of homogeneous products for which
process costing is used. The other three industries would utili9e 8ob order costing because each
product or group of products is made to order.
!TS: 1 "#$: Moderate &%$: !. '(): 5
1-. standard cost system is one:
a. that provides a separate record of cost for each special-order product.
b. that uses predetermined costs to furnish a measurement that helps management ma0e
decisions regarding the efficiency of operations.
c. that accumulates costs for each department or process in the factory.
d. where costs are accumulated on a 8ob cost sheet.
NS: (
standard cost system uses predetermined standard costs to furnish a measurement that helps
management ma0e decisions regarding the efficiency of operations.
!TS: 1 "#$: Moderate &%$: !. '(): 5
1*. #n 8ob order costing, the basic document for accumulating the cost of each 8ob is the:
a. )ob cost sheet.
b. &e4uisition sheet.
c. !urchase order.
d. #nvoice.
NS:
#n 8ob order costing, the basic document to accumulate the cost of each 8ob is the 8ob cost sheet.
!TS: 1 "#$: %asy &%$: !. '(): 7
11. 6nder a 8ob order cost system of accounting, the entry to distribute payroll to the appropriate accounts
would be:
a. "ebit-!ayroll
+redit-.ages !ayable

b. "ebit-.or0 in !rocess
"ebit-$actory 'verhead
"ebit-Selling and dministrative %/pense
+redit-!ayroll
c. "ebit-.or0 in !rocess
"ebit-$inished Hoods
"ebit-+ost of Hoods Sold
+redit-!ayroll
d. "ebit-.or0 in !rocess
"ebit-$actory 'verhead
"ebit-Selling and dministrative %/pense
+redit-.ages !ayable
NS: (
!ayroll is credited when the amounts are distributed to the appropriate accounts. Those accounts
include .or0 in !rocess for direct labor, $actory 'verhead for indirect labor and Selling and
dministrative %/pense for salaries and wages incurred outside of the factory.
!TS: 1 "#$: Moderate &%$: !. '(): 7
15. 6nder a 8ob order system of cost accounting, the dollar amount of the entry to transfer inventory from
.or0 in !rocess to $inished Hoods is the sum of the costs charged to all 8obs:
a. #n process during the period.
b. +ompleted and sold during the period.
c. +ompleted during the period.
d. Started in process during the period.
NS: +
.hen 8obs are completed during the period, $inished Hoods is debited and .or0 in !rocess is credited
for the cost of the completed 8obs.
!TS: 1 "#$: Moderate &%$: !. '(): 7
17. 6nder a 8ob order system of cost accounting, +ost of Hoods Sold is debited and $inished Hoods is
credited for a:
a. Transfer of materials to the factory.
b. Shipment of completed goods to the customer.
c. Transfer of completed production to the finished goods storeroom.
d. !urchase of goods on account.
NS: (
.hen completed goods are shipped to customers, +ost of Hoods Sold is debited and $inished Hoods is
credited.
!TS: 1 "#$: %asy &%$: !. '(): 7
1:. The #nstitute of Management ccountants >#M? Statement of !rofessional !ractice includes all of the
following standards except:
a. +onfidentiality.
b. +ommitment.
c. #ntegrity.
d. +ompetence.
NS: (
The four #M !rofessional Standards are: +ompetence, +onfidentiality, #ntegrity and +redibility.
!TS: 1 "#$: %asy &%$: ppendi/ '(): ,
12. ccording to the #nstitute of Management ccountants >#M? Statement of %thical !rofessional
!ractice, performing professional duties in accordance with relevant laws, regulations and technical
standards is a component of which standard@
a. +ompetence
b. +onfidentiality
c. #ntegrity
d. +redibility
NS:
!erforming technical duties in accordance with relevant laws, regulations and technical standards is a
component of the competence standard.
!TS: 1 "#$: Moderate &%$: ppendi/ '(): ,
53. ccording to the #nstitute of Management ccountants >#M? Statement of %thical !rofessional
!ractice, under the #ntegrity Standard, each member has the responsibility to:
a. +ommunicate information fairly and ob8ectively.
b. Ieep information confidential.
c. Mitigate actual conflicts of interest.
d. Maintain an appropriate level of professional competence.
NS: +
6nder the #ntegrity Standard, #M members have the responsibility to mitigate actual conflicts of
interest and avoid apparent conflicts of interest.
51. Tom )ones, a management accountant, was faced with an ethical conflict at the office. ccording to
the #nstitute of Management ccountants; Statement of !rofessional !ractice, the first action Tom
should pursue is to:
a. follow his organi9ation;s established policies on the resolution of such conflict.
b. contact the local newspaper.
c. contact the company;s audit committee.
d. consult an attorney.
NS:
.hen faced with ethical issues, one should follow the organi9ation;s established policies on the
resolution of such conflict. #f these policies do not resolve the ethical conflict, one should consider
discussing the matter with one;s supervisor or, if it appears he or she is involved, other internal
sources. #t is not appropriate to contact parties outside the organi9ation unless it is the authorities if
one believes there is a violation of the law.
PROBLEM
1. !repare a performance report showing both month and year-to-date data for !ost Manufacturing;s
Machining "epartment for $ebruary, ,311 using the following data:
)anuary $ebruary
(udgeted "ata:
Machinists; wages
$6,200 $5,600
Supplies
3,200 3,000
"epreciation
2,000 2,000
6tilities
1,500 1,400
ctual "ata:
Machinists; wages
$6,120 $5,650
Supplies
3,300 3,180
"epreciation
2,000 2,000
6tilities
1,580 1,390
NS:
!ost Manufacturing - Machining "epartment
!erformance &eport
$or !eriod %nded $ebruary ,:, ,311
%/pense (udget ctual Cariance
$eb
ruary
Oear-to-
"ate
$ebruar
y
Oear-to-
"ate
$ebruar
y
Oear-to-
"ate
Machinists; wages B 5,600
$11,800 $ 5,650 $11,700 $ 50 U $ 100 F
Supplies
3,000 6,200 3,180 6,480 180 U 280 U
"epreciation
2,000 4,000 2,000 4,000 -- --
6tilities
1,400 2,900 1,390 2,970 10 F 70 U
Total
$12,000 $24,900 $12,220 $25,150 $ 220 U $ 250 U
!TS: 1 "#$: =ard &%$: !. '(): 1
,. The following data were ta0en from the general ledger of "ata +orp., a retailer of computers and
accessories:
Merchandise #nventory, ugust 1
$ 323,000
Merchandise #nventory, ugust -1
296,000
!urchases
1,684,000
+ompute the cost of goods sold for the month of ugust.
NS:
Merchandise #nventory, ugust 1
$ 323,000
!lus !urchases
1,684,000
2,007,000
Gess Merchandise #nventory, ugust -1
296,000
+ost of Hoods Sold
$1,711,000
!TS: 1 "#$: %asy &%$: !. '(): ,
-. The following data were ta0en from the general ledger and other data of Spargus Manufacturing on
May -1:
.or0 in !rocess, May 1
$ 75,000
$inished Hoods, May 1
82,000
Materials purchased in May
122,000
+ost of goods manufactured in May
455,000
Mar0eting and administrative costs in May
64,000
$inished Hoods, May -1
78,000
.or0 in !rocess, May -1
94,000
+ompute the cost of goods sold for Spargus Manufacturing, selecting the appropriate items from the
list provided.
NS:
$inished Hoods #nventory, May 1
$ 82,000
455,000
+ost of Hoods vailable for Sale
537,000
Gess $inished Hoods #nventory, May -1
78,000
+ost of Hoods Sold
$459,000
!TS: 1 "#$: Moderate &%$: !. '(): ,
*. The following data were ta0en from Middletown Merchandisers on )uly -1, for the first month of its
fiscal year:
Merchandise #nventory, )uly -1
$ 25,000
!urchases
735,000
+ost of Hoods Sold
750,000
+ompute the inventory at )uly 1.
NS:
+ost of Hoods Sold
$750,000
!lus Merchandise #nventory, )uly -1
25,000
%4uals +ost of Hoods vailable for Sale
$775,000
Gess !urchases
735,000
%4uals Merchandise #nventory, )uly 1
$ 40,000
!TS: 1 "#$: Moderate &%$: !. '(): -
1. +ampus +arriers +o. manufactures and sells bac0pac0s to college students. +ampus +arriers operates
a factory in Small Town and two stores in +ollege Town and 6niversity +ity. +lassify the following
costs incurred by +ampus +arriers as "irect Materials, "irect Gabor, $actory 'verhead or Selling and
dministrative %/pense.
a. &ent paid to lease the store in +ollege Town.
b. +anvas fabric.
c. .ages paid to students distributing advertising fliers in 6niversity +ity.
d. Sewing machine operator;s wages.
e. (uilding depreciation on the factory building.
f. Thread.
g. The cost of transporting the bac0pac0s from the factory in Small Town to the
6niversity +ity store.
h. "epreciation of the rac0s and shelves at the +ollege Town Store.
i. $actory manager;s salary.
8. Security guard at the factory.
0. Store manager;s salary.
l. %lectricity to power sewing machines.
m. %lectricity to light the +ollege Town store.
NS:
a. Selling and administrative e/pense would include costs related to stores.
b. "irect material - canvas would be used to ma0e bac0 pac0s.
c. Selling and administrative e/pense would include advertising.
d. "irect labor - sewing machine operators are EtouchF labor.
e. $actory overhead - depreciation is a factory e/pense that cannot be traced directly to the
products.
f. $actory overhead. .hile thread is included in the final product, the cost is
insignificant and would be accounted for as an indirect cost.
g. Selling and administrative e/pense. Transportation is incurred outside of the factory.
h. Selling and administrative e/pense would include costs relating to the stores.
i. $actory overhead - the factory manager;s salary is a factory cost that cannot be traced directly
to products.
8. $actory overhead - the security guard;s salary is a factory cost that cannot be traced directly to
products.
0. Selling and administrative e/pense would include all costs related to the stores.
l. $actory overhead - electricity to run the machines is a factory cost that cannot be traced
directly to products..
m. Selling and administrative e/pense would include all costs related to the stores.
!TS: 1 "#$: Moderate &%$: !. '(): *
5. The following inventory data relate to the &eta +ompany:
#NC%NT'&#%S
(eginning %nding
$inished goods
$80,000 $100,000
.or0 in process
65,000 70,000
"irect materials
60,000 64,000
&evenues and costs for the period:
Sales
$740,000
650,000
575,000
$actory overhead
154,000
164,000
Selling and administrative e/penses
51,000
+ompute the following for the year:
a. "irect materials purchased
b. "irect labor costs incurred
c. +ost of goods sold
d. Hross profit
NS:
>a?
"irect materials used during the period
$164,000
dd inventory of direct materials at the end of the period
64,000
"irect materials available during the period
$228,000
Gess inventory of direct materials at the beginning of the period
60,000
"irect materials purchased during the period
$168,000
>b?
Total manufacturing costs incurred during the period
$575,000
Gess: "irect materials used
$164,000
$actory overhead incurred
154,000 318,000
"irect labor costs incurred during the period
$257,000
>c?
$650,000
Gess finished goods inventory at the end of the period
100,000
+ost of goods sold during the period
$550,000
>d?
Sales
$740,000
+ost of goods sold
550,000
Hross profit
$190,000
!TS: 1 "#$: =ard &%$: !. '(): *,1
7. The following inventory data relate to the &eta +ompany:
#NC%NT'&#%S
(eginning %nding
$inished goods
$80,000 $100,000
.or0 in process
65,000 70,000
"irect materials
60,000 64,000
&evenues and costs for the period:
Sales
$740,000
650,000
575,000
$actory overhead
154,000
164,000
Selling and administrative e/penses
51,000
!repare 8ournal entries for the following, ma0ing any necessary computations:
a. !urchase of materials on account
b. #ssuance of materials into production
c. Transfer the cost of completed wor0 to $inished Hoods
d. &ecord the sale of the goods on account and the related cost of goods sold.
NS:
>a?
"irect materials used during the period
$164,000
dd inventory of direct materials at the end of the period
64,000
"irect materials available during the period
$228,000
Gess inventory of direct materials at the beginning of the period
60,000
"irect materials purchased during the period
$168,000
Materials
168,000
ccounts !ayable
168,000
>b?
.or0 in !rocess
164,000
Materials
164,000
>c?
.or0 in !rocess #nventory, beginning of the period
$ 65,000
!lus Total Manufacturing +osts
575,000
$640,000
Gess .or0 in !rocess #nventory, end of the period
70,000
+ost of Hoods Manufactured
$570,000

$inished Hoods
570,000
.or0 in !rocess
570,000
>d?
$inished Hoods #nventory, beginning of the period
$ 80,000
570,000
+ost of Hoods vailable for Sale
$650,000
Gess $inished Hoods #nventory, end of the period
100,000
+ost of Hoods Sold
$550,000
ccounts &eceivable
740,000
Sales
740,000
+ost of Hoods Sold
550,000
$inished Hoods
550,000
!TS: 1 "#$: =ard &%$: !. '(): *,1
:. $ollowing is a list of costs incurred by the Sit0a !roducts +o. during the month of )une:
$12,000
%/pired insurance
$3,000
#ndirect materials used
3,000
6tilities
800
"irect labor employed
20,000
&epairs
700
#ndirect labor employed
4,500
"epreciation e/pense
Selling e/penses
6,000
--Machinery and e4uipment
1,200
!repare the 8ournal entries necessary to record the issuance of materials, the distribution of labor cost,
the recording of factory overhead, and the entry transferring $actory 'verhead to .or0 in !rocess.
NS:
.or0 in !rocess >"irect Materials?
12,000
$actory 'verhead >#ndirect Materials?
3,000
Materials
15,000
.or0 in !rocess >"irect Gabor?
20,000
$actory 'verhead >#ndirect Gabor?
4,500
!ayroll
24,500
$actory 'verhead
5,700
!repaid #nsurance
3,000
ccounts !ayable >6tilities?
800
ccounts !ayable >&epairs?
700
ccumulated "epreciation >Machinery and %4uipment?
1,200
.or0 in !rocess
13,200
$actory 'verhead
13,200
!TS: 1 "#$: Moderate &%$: !. '(): 1
2. The following data was ta0en from the general ledger and other records of Martine9 Manufacturing
+o. at )uly -1, the end of the first month of operations in the current fiscal year:
Sales
$50,000
Materials inventory >)uly 1?
15,000
.or0 in process inventory >)uly 1?
20,000
$inished goods inventory >)uly 1?
28,000
Materials purchased
21,000
"irect labor cost
12,500
$actory overhead >including B1,333 of indirect materials used and B,,133 of
indirect labor cost?
11,500
Selling and administrative e/pense
8,000
#nventories at )uly -1:
Materials
16,000
.or0 in process
18,000
$inished goods
30,000
a. !repare a statement of cost of goods manufactured.
b. "etermine the cost of goods sold for the month.
NS:
>a?
Martine9 Manufacturing +o.
Statement of +ost of Hoods Manufactured
$or the Month %nded )uly -1, ,3--
"irect Materials:
#nventory, )uly 1
$15,000
!urchases
21,000
Total cost of available materials
$36,000
Gess inventory, )uly -1
16,000
+ost of materials used
$20,000
Gess indirect materials used
5,000
+ost of direct materials used in production
$15,000
"irect labor
12,500
$actory overhead:
#ndirect materials
$ 5,000
#ndirect labor
2,500
'ther
4,000
Total factory overhead
11,500
Total manufacturing cost
$39,000
dd wor0 in process inventory, )uly 1
20,000
Total
$59,000
Gess wor0 in process inventory, )uly -1
18,000
+ost of goods manufactured during the month
$41,000
>b?
$inished goods inventory, )uly 1
$28,000
dd cost of goods manufactured during )uly
41,000
Hoods available for sale
$69,000
Gess finished goods inventory, )uly -1
30,000
+ost of goods sold
$39,000
!TS: 1 "#$: Moderate &%$: !. '(): 1
13. The following data was ta0en from the general ledger and other records of Marwic0 Manufacturing
+o. at )anuary-1, the end of the first month of operations in the current fiscal year:
Sales
$650,000
#nventories at )anuary -1:
Materials inventory
20,000
.or0 in process inventory
32,000
$inished goods inventory
54,000
#nventories at )anuary 1:
Materials
25,000
.or0 in process
29,000
$inished goods
48,000
Materials purchased
154,000
Gabor +osts:
185,000
30,000
Sales personnel salaries
52,000
"epreciation:
$actory building
73,000
Sales office
28,000
#ndirect materials used
3,000
$actory utilities
67,000
a. !repare a statement of cost of goods manufactured.
b. "etermine the cost of goods sold for the month.
NS:
>a?
Marwic0 Manufacturing +o.
Statement of +ost of Hoods Manufactured
$or the Month %nded )anuary -1, ,3--
"irect Materials:
#nventory, )anuary 1
$25,000
!urchases
154,000
Total cost of available materials
$179,000
Gess inventory, )uly -1
20,000
+ost of materials used
$159,000
Gess indirect materials used
3,000
+ost of direct materials used in production
$156,000
"irect labor
185,000
$actory overhead:
#ndirect materials
$ 3,000
#ndirect labor >Supervisors?
30,000
"epreciation
73,000
6tilities
67,000
Total factory overhead
173,000
Total manufacturing cost
$514,000
dd wor0 in process inventory, )anuary 1
29,000
Total
$543,000
Gess wor0 in process inventory, )anuary -1
32,000
+ost of goods manufactured during the month
$511,000
>b?
$inished goods inventory, )anuary 1
$48,000
dd cost of goods manufactured during )uly
511,000
Hoods available for sale
$559,000
Gess finished goods inventory, )anuary -1
54,000
+ost of goods sold
$505,000
!TS: 1 "#$: =ard &%$: !. '(): 1
11. +ustom +abinets #nc. manufactures goods on a 8ob order basis. "uring the month of November, three
8obs were started. >There was no wor0 in process at the beginning of the month.? )obs *31 and *3,
were completed and sold for B1*,133 and B12,333, respectively, during the month< )ob *3- was still in
process at the end of November.
The following data are ta0en from the 8ob cost sheets for each 8ob. $actory overhead charges include a
total of B233 of indirect materials and B533 of indirect labor. 'ne wor0 in process control account is
used.
)ob *31 )ob *3, )ob *3-
"irect materials
$3,200 $3,800 $2,000
"irect labor
2,400 3,500 1,500
$actory overhead
1,250 2,000 850
!repare a 8ournal entry to record each of the following:
a. Materials used
b. $actory wages and salaries earned
c. $actory 'verhead transferred to .or0 in !rocess
d. )obs completed
e. )obs sold
NS:
>a?
.or0 in !rocess >-,,33 D -,:33 D ,,333?
9,000
$actory 'verhead
900
Materials
9,900
>b?
.or0 in !rocess >,,*33 D -,133 D 1,133?
7,400
$actory 'verhead
600
!ayroll
8,000
>c?
.or0 in !rocess >1,,13 D ,,333 D :13?
4,100
$actory 'verhead
4,100
>d?
$inished Hoods
16,150
.or0 in !rocessP
16,150
P )obs completed:
*31 >-,,33 D ,,*33 D 1,,13?
$ 6,850
*3, >-,:33 D -,133 D ,,333?
9,300
Total
$16,150
>e?
+ost of Hoods Sold
16,150
$inished Hoods
16,150
ccounts &eceivable >1*,133 D 12,333?
33,500
Sales
33,500
!TS: 1 "#$: Moderate &%$: !. '(): 7
1,. The Shawshan0 Manufacturing +o. uses a 8ob order cost system of accounting. The following
information was ta0en from the boo0s of the company after all posting had been completed at the end
of )anuary:
)obs
+ompleted
"irect
Materials +ost
"irect
Gabor +ost
$actory
'verhead
6nits
+ompleted
101 $1,800 $2,000 $1,000 200
102 1,235 1,250 890 150
104 900 850 350 100
a. !repare the 8ournal entries to allocate the costs of materials, labor, and factory
overhead to each 8ob and to transfer the costs of 8obs completed to $inished Hoods.
b. +ompute the total production cost of each 8ob.
c. +ompute the unit cost of each 8ob.
d. +ompute the selling price per unit for each 8ob, assuming a mar0-on percentage of *3
percent.
NS:
>a?
.or0 in !rocess--)ob 131
1,800
.or0 in !rocess--)ob 13,
1,235
.or0 in !rocess--)ob 13*
900
Materials
3,935
2,000
1,250
850
!ayroll
4,100
1,000
890
350
$actory 'verhead
2,240
$inished Hoods
10,275
4,800
3,375
2,100
>b?
)obs
+ompleted
"irect
Materials +ost
"irect
Gabor +ost
$actory
'verhead
Total
!roduction
+ost
101 $1,800 $2,000 $1,000 $4,800
102 1,235 1,250 890 3,375
104 900 850 350 2,100
Total
$3,935 $4,100 $2,240 $10,275
>c?
6nit +ost:
)ob 131 >B*,:33 N ,33?
$24.00
)ob 13, >B-,-71 N 113?
$22.50
)ob 13* >B,,133 N 133?
$21.00
>d?
Selling !rice !er 6nit:
)ob 131 >B,*.33 *3M? D B,*.33
$33.60
)ob 13, >B,,.13 *3M? D B,,.13
$31.50
)ob 13* >B,1.33 *3M? D B,1.33
$29.40
!TS: 1 "#$: =ard &%$: !. '(): 7

VanDerbeck15e Ch01

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VanDerbeck15e Ch01

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CHAPTER 1INTRODUCTION TO COST ACCOUNTING

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