会计学原理 第二版 英文版 wiley出版社 第21章 答案.docx
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会计学原理第二版英文版wiley出版社第21章答案
SolutionsManual
toaccompany
PrinciplesofAccounting
2ndedition
by
JerryWeygandt,KerynChalmers,
LorenaMitrione,MichelleFyfeSusanaYuen,
DonaldKieso,PaulKimmel
Chapter21
Costaccountingsystems
©JohnWiley&SonsAustralia,Ltd
CHAPTER21
Costaccountingsystems
ASSIGNMENTCLASSIFICATIONTABLE
StudyObjectives
Questions
Brief
Exercises
Exercises
Problems
1.Explainthecharacteristicsandpurposesofcostaccounting.
1,2,3,4,5,17
2.Describetheflowof
costsinajobordercostaccountingsystem.
6,7,8,9,10,12,13
1,2,3,4
1,2,3,4,6,7,8,9
1,2,3,5
3.Explainthenatureandimportanceofajobcostsheet.
11,12,16
5
2,3,6,8,10
1,2,3,5
4.Indicatehowthepredeterminedoverheadrateisdeterminedandused.
14,15
6,7
2,3,5,6,7,8
1,2,3,4,5
5.Prepareentriesforjobscompletedandsold.
8
2,3,4,6,7,8,9,10
1,2,3,5
6.Distinguishbetween
under-andoverappliedmanufacturingover-
head.
18,19,20
9,10
5
1,2,4,5
ASSIGNMENTCHARACTERISTICSTABLE
Problem
Number
Description
Difficulty
Level
Time
Allotted（min.）
1
Prepareentriesinajobcostsystemandpreparejobcostsheets.
Simple
30–40
2
Prepareentriesinajobcostsystemandpartialincomestatement.
Moderate
30–40
3
Prepareentriesinajobcostsystemandpreparecostofgoodsmanufacturedschedule.
Simple
30–40
4
Calculatepredeterminedoverheadrates,applyoverhead,andindicatestatementpresentationofunder-oroverappliedoverhead.
Simple
20–30
5
Analysemanufacturingaccountsanddeterminemissingamounts.
Complex
30–40
BLOOM’STAXONOMYTABLE
CorrelationChartbetweenBloom’sTaxonomy,StudyObjectivesandEnd-of-ChapterExercises
andProblems
StudyObjective
Knowledge
Comprehension
Application
Analysis
Synthesis
Evaluation
1.Explainthecharacteristicsandpurposesofcostaccounting.
Q21-1
Q21-2
Q21-3
Q21-4
Q21-5
Q21-17
2.Describetheflowofcostsinajobordercostaccountingsystem.
Q21-7
Q21-8
Q21-12
Q21-6
Q21-9
Q21-10
Q21-13
BE21-1
BE21-2
BE21-3
BE21-4
E21-1
E21-2
E21-3
E21-6
E21-7
E21-8
E21-9
P21-1
P21-3
E21-4
P21-2
P21-5
3.Explainthenatureandimportanceofajobcostsheet.
Q21-11
Q21-12
Q21-16
BE21-5
E21-2
E21-3
E21-6
E21-8
E21-10
P21-1
E21-3
P21-2
P21-5
4.Indicatehowthepredeterminedoverheadrateisdeterminedandused.
Q21-15
Q21-14
BE21-6
BE21-7
E21-2
E21-3
E21-6
E21-7
E21-8
P21-1
P21-3
P21-4
E21-5
P21-2
P21-5
5.Prepareentriesforjobscompletedandsold.
BE21-8
E21-2
E21-3
E21-7
E21-8
E21-9
E21-10
P21-1
P21-3
E21-4
P21-2
P21-5
6.Distinguishbetweenunder-andoverappliedmanufacturingoverhead.
Q21-18
Q21-19
Q21-20
BE21-9
P21-1
P21-4
BE21-10
E21-5
P21-2
P21-5
BroadeningYourPerspective
Communication
Real-WorldFocus
ExploringtheWeb
ManagerialAnalysis
GroupDecision
Case
EthicsCase
ANSWERSTOQUESTIONS
1.Jobcostdatamaybeusedbymanagementin:
（a）Settingthesellingpriceforthejob.
（b）Biddingonsimilarjobsinthefuture.
（c）Evaluatingworkerperformancebycomparingthecostofthejobwithsimilarpreviousjobs.
（d）Evaluatingworkerperformancebycomparingthecostofthejobwithcostestimatesmadewhenthejobwasaccepted.
（e）Developingmarketstrategies.
（f）Developingfutureproductiongoals.
2.（a）Costaccountinginvolvesthemeasuring,recordingandreportingofproductcosts.Acostaccountingsystemconsistsofmanufacturingcostaccountsthatarefullyintegratedintothegeneralledgerofacompany.
（b）Animportantfeatureofacostaccountingsystemistheuseofaperpetualinventorysystemthatprovidesimmediate,up-to-dateinformationonthecostofaproduct.
3.（a）Thetwoprincipaltypesofcostaccountingsystemsare
（1）jobordercostingand
（2）processcosting.Underajobordercostsystem,costsareassignedtoeachjoborbatchofgoods;atalltimeseachjoborbatchofgoodscanbeseparatelyidentified.Ajobordercostsystemmeasurescostsforeachcompletedjobratherthanforsettimeperiods.Underaprocesscostsystem,product-relatedcostsareaccumulatedbyorassignedtodepartmentsorprocessesforasetperiodoftime.Jobordercostinglendsitselftospecific,special-ordermanufacturingorservicingwhileprocesscostingisbettersuitedtosimilar,large-volumeproductsandcontinuousprocessmanufacturing.
（b）Acompanymayusebothtypesofsystems.Forexample,GeneralMotorsusesprocesscostingforstandardmodelcarsandjobordercostingforcustom-madevehicles.
4.Ajobordercostsystemismostlikelytobeusedbyacompanythatreceivesspecialorders,orcustombuilds,orproducesheterogeneous,nontransferableitemsorproducts;thatis,theproductmanufacturedortheservicerenderedistailoredtothecustomerorclient’srequestsorneedsorsituation.Examplesofindustriesthatusejobordersystemsarecustomhomebuilders,commercialprintingcompanies,motionpicturecompanies,constructioncontractors,repairshops,accountingandlawfirms,hospitals,shipbuilders,andarchitects.
5.Aprocesscostsystemismostlikelytobeusedbymanufacturingfirmswithcontinuousproductionflowsusuallyfoundinmassproduction,assemblyline,large-volume,uniform,orrelativelysimilarproductindustries.Companiesproducingappliances,chemicals,pharmaceuticals,rubberandtyres,plastics,cement,petroleum,andautomobilesutiliseprocesscostsystems.
6.Themajorstepsintheflowofcostsinajobordercostaccountingsystemare
（1）accumulatingthemanufacturingcostsincurredand
（2）assigningtheaccumulatedcoststoworkdone.
7.Disagree.Entriestomanufacturingoverheadarealsomadeattheendofanaccountingperiod.Forexample,therewillbeadjustingentriesforfactorydepreciation,rent,andinsurance.
8.Thesourcedocumentsusedinaccumulatingdirectlabourcostsaretimeticketsandtimecards.
Thesourcedocumentsforchargingcoststospecificjobsarematerialsrequisitionslipsfordirectmaterials,timeticketsfordirectlabour,andthepredeterminedoverheadrateformanufacturingoverhead.
Thesourcedocumentformaterialsisthematerialsrequisitionslipandthesourcedocumentforlabouristhetimeticket.Theentriesare:
Materials
Labour
WorkinProcessInventory
ManufacturingOverhead
RawMaterialsInventory
⨯⨯
⨯⨯
⨯⨯
WorkinProcessInventory
ManufacturingOverhead
FactoryLabour
⨯⨯
⨯⨯
⨯⨯
9.Thepurposeofajobcostsheetistorecordthecostschargeabletoaspecificjobandtodeterminethetotalandunitcostofthecompletedjob.
10Amaterialsinventoryrecord,alsocalledthestoresledgercard,isusedinaperpetualinventorysystemasarecordofindividualparts,units,assembliesorothermaterials（directaswellasindirect）.Thematerialsinventoryrecordisthebasicinventoryrecordinthesubsidiaryledger.Thematerialsrequisitionslipisabusinessdocumentusedasanauthorisationtoissuematerialsfrominventorytoproduction.Itisapprovedandsignedbyauthorisedpersonnelsothatmaterialsmayberemovedfrominventoryandchargedtoproduction,tospecificjobs,departments,orprocesses.Thematerialsrequisitionslipisthebasisforpostingtothematerialsinventoryrecordsandtothejobcostsheet.
11.Disagree.Actualmanufacturingoverheadcannotbedetermineduntiltheendofaperiodoftime.Consequently,therecouldbeasignificantdelayinassigningoverheadandindeterminingthetotalcostofthecompletedjob.
12.Therelationshipsforcalculatingthepredeterminedoverheadratearetheestimatedannualoverheadcostsandanexpectedactivitybasesuchasdirectlabourhours.Therateiscalculatedbydividingtheestimatedannualoverheadcostsbytheexpectedannualoperatingactivity.
13.Atanypointintime,thebalanceinWorkinProcessInventoryshouldequalthesumofthecostsshownonthejobcostsheetsofunfinishedjobs.Alternatively,postingtoWorkinProcessInventorymaybecomparedwiththesumofthepostingstothejobcostsheetsforeachofthemanufacturingcostelements.
14.Janeisincorrect.Thereisadifferenceincalculatingtotalmanufacturingcosts.Injobordercosting,manufacturingoverheadappliedisused,whereasinmanufacturingaccounting,actualmanufacturingoverheadisused.
15.（a）Processcost.
（b）Processcost.
（c）Joborder.
（d）Joborder.
16.Theprimaryfocusofjobordercostaccountingisontheindividualjob.Inprocesscostaccounting,theprimaryfocusisontheprocessesinvolvedinproducinghomogeneousproducts.
17.Haliscorrect.Theflowofcostsisthesameinprocesscostaccountingasinjobordercostaccounting.Themethodofassigningcosts,however,issignificantlydifferent.
18.Theentrytoassignoverheadtoproductionis:
July31WorkinProcess—Machining30 000
WorkinProcess—Assembly24 000
ManufacturingOverhead54 000
19.Toprepareaproductioncostreport,fourstepsarefollowed:
（a）calculatethephysicalunitflow,（b）calculateequivalentunitsofproduction,（c）calculateunitcostsofproduction,and（d）prepareacostreconciliationschedule
20.（a）Equivalentunitsofproductionmeasuretheworkdoneduringthepe
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