Product Costing and Cost Accumulation in a Batch Production Environment

Topics: Management accounting, Costs, Inventory Pages: 63 (7631 words) Published: December 7, 2014


Solutions Manual

to accompany

MANAGERIAL ACCOUNTING

Tenth Edition (Global Edition)

Ronald W. Hilton
Cornell University

David E. Platt
University of Texas at Austin

Copyright 2015 by McGraw-Hill Education. All rights reserved. Contents

Preface

iii

Chapter 1
The Changing Role of Managerial Accounting in a Dynamic Business Environment 1-1

Chapter 2
Basic Cost Management Concepts
2-1

Chapter 3
Product Costing and Cost Accumulation in a Batch Production Environment 3-1

Chapter 4
Process Costing and Hybrid Product-Costing Systems
4-1

Chapter 5
Activity-Based Costing and Management
5-1

Chapter 6
Activity Analysis, Cost Behavior, and Cost Estimation
6-1

Chapter 7
Cost-Volume-Profit Analysis
7-1

Chapter 8
Variable Costing and the Costs of Quality and Sustainability 8-1

Chapter 9
Financial Planning and Analysis: The Master Budget
9-1

Chapter 10
Standard Costing and Analysis of Direct Costs
10-1

Chapter 11
Flexible Budgeting and Analysis of Overhead Costs
11-1

Chapter 12
Responsibility Accounting, Operational Performance Measures, and the Balanced Scorecard 12-1

Chapter 13
Investment Centers and Transfer Pricing
13-1

Chapter 14
Decision Making: Relevant Costs and Benefits
14-1

Chapter 15
Target Costing and Cost Analysis for Pricing Decisions
15-1

Chapter 16
Capital Expenditure Decisions
16-1

Chapter 17
Allocation of Support Activity Costs and Joint Costs
17-1

Appendix I
The Sarbanes-Oxley Act, Internal Controls, and Management Accounting

I-1

Appendix II
Compound Interest and the Concept of Present Value
II-1

Appendix III
Inventory Management
III-1

ii

Preface
The best way for most students to learn managerial accounting is to read the text and then solve a representative sample of the review questions, exercises, problems and cases at the end of each chapter. These end-of-chapter materials span a wide range of topics, types of organizations, and levels of difficulty. The topic of each exercise, problem, and case is indicated in the text. The estimated amount of time required is shown in the solutions manual. The Solutions Manual also includes a brief discussion of the points raised in the Focus on Ethics features, which appear at the end of most chapters in the text. We gratefully acknowledge Liesl Folks and Yinian Hou for their very able assistance in preparing discussion points for the text’s Focus on Ethics features. Several exercises and problems in each chapter (excluding chapter 1) include an optional requirement entitled Build a Spreadsheet, which is highlighted in the text in red. Here students are instructed to build an Excel spreadsheet that will solve one or more of the requirements in the exercise or problem. There are several alternatives for instructors with regard to assigning these optional Build a Spreadsheet requirements. (1) Do not assign the optional Build a Spreadsheet requirement. (2) Assign the optional Build a Spreadsheet requirement in addition to the manual computational requirements. Under this approach, the student would solve several of the problem’s requirements twice, once manually and then a second time in the context of the Excel spreadsheet. (3) Assign the optional Build a Spreadsheet requirement instead of the manual computational requirements that the optional Excel spreadsheet solves. The electronic version of this solutions manual includes links to Excel spreadsheets that solve these optional spreadsheet requirements. We have found that students’ Excel skills vary widely. Consequently, the time that students will need to build each Excel spreadsheet will vary considerably as well. For this reason, the suggested solution times given for each exercise and problem do not include the time required to build the optional...
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