1. Weygandt Managerial Accounting 7e Solutions
2. Managerial Accounting Solutions Manual Pdf
3. Financial & Managerial Accounting Weygandt

Managerial Accounting Tools for Business Decision Making Weygandt 6th Edition Solutions Manual Managerial Accounting Tools for Business Decision Making Weygandt Kimmel Kieso 6th Edition Solutions Manual ISBN: - Here’s a sample list of all other solutions manuals we have, if you need any one of them please contact us. If you could not find the book you are looking for, please let us know, we might be able to help.

Weygandt managerial account solutions manual was found in our database. Managerial accounting solutions manual budgetary planning, weygandt financial. Mar 4, 2018 - Managerial Accounting Weygandt Solutions Manual Budgetary Planning PDF on The Most Popular. Online PDFLAB. Only Register an Account. DOWNLOAD MANAGERIAL ACCOUNTING WEYGANDT SOLUTIONS MANUAL BUDGETARY PLANNING managerial accounting weygandt solutions pdf 2-4 Weygandt, Managerial Accounting, 7/e, Solutions Manual (For Instructor Use Only) ANSWERS TO QUESTIONS 1. (a) Cost accounting involves the measuring, recording, and reporting of product costs.

CHAPTER 9 Budgetary Planning ASSIGNMENT CLASSIFICATION TABLE Learning Objectives Questions 1. Indicate the benefits of budgeting.

State the essentials of effective budgeting. 3, 5, 6, 7, 8 3.

Identify the budgets that comprise the master budget. 9, 10, 11, 12, 13, 14, 15, 16 4. Describe the sources for preparing the budgeted income statement. Brief Exercises Do It! Exercises A Problems B Problems 1 1 1 1, 2, 3, 4, 5, 6, 7 1, 2, 3 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12 1A, 2A, 3A 1B, 2B, 3B 17, 18 8 4 13 1A, 2A, 3A, 6A 1B, 2B, 3B Explain the principal sections of a cash budget. 19, 20 9 5 14, 15, 16, 17, 18, 19 4A, 6A 4B Indicate the applicability of budgeting in nonmanufacturing companies.

21, 22 10 3, 18, 19, 20 5A 5B Copyright © 2012 John Wiley & Sons, Inc. Weygandt, Managerial Accounting, 6/e, Solutions Manual (For Instructor Use Only) 9-1 ASSIGNMENT CHARACTERISTICS TABLE Problem Number 9-2 Description Difficulty Level Time Allotted (min.) 1A Prepare budgeted income statement and supporting budgets. Simple 30–40 2A Prepare sales, production, direct materials, direct labor, and income statement budgets. Simple 40–50 3A Prepare sales and production budgets and compute cost per unit under two plans. Moderate 30–40 4A Prepare cash budget for two months. Moderate 30–40 5A Prepare purchases and income statement budgets for a merchandiser. Simple 30–40 6A Prepare budgeted income statement and balance sheet.

Complex 40–50 1B Prepare budgeted income statement and supporting budgets. Simple 30–40 2B Prepare sales, production, direct materials, direct labor, and income statement budgets. Simple 40–50 3B Prepare sales and production budgets and compute cost per unit under two plans. Moderate 30–40 4B Prepare cash budget for two months. Moderate 30–40 5B Prepare purchases and income statement budgets for a merchandiser. Simple 30–40 Copyright © 2012 John Wiley & Sons, Inc.

Weygandt, Managerial Accounting, 6/e, Solutions Manual (For Instructor Use Only) Learning Objective Knowledge Comprehension 1. Indicate the benefits of budgeting. Q9-1 Q9-2 Q9-4 E9-1 2. State the essentials of effective budgeting. DI9-1 Q9-3 Q9-5 Q9-6 Q9-7 Q9-8 E9-1 3.

Identify the budgets that comprise the master budget. DI9-1 Q9-9 Q9-10 Q9-11 E9-1 Q9-12 Q9-13 Q9-14 Q9-15 Q9-16 BE9-2 BE9-3 BE9-4 BE9-5 BE9-6 BE9-7 DI9-2 DI9-3 E9-2 E9-3 E9-4 E9-5 E9-6 E9-7 E9-8 4. Describe the sources for preparing the budgeted income statement. Q9-18 Q9-17 BE9-8 DI9-4 E9-13 P9-6A P9-1A P9-1B P9-2A P9-2B 5. Explain the principal Q9-19 sections of a cash budget. Q9-20 BE9-9 DI9-5 E9-14 E9-15 P9-4A E9-17 P9-6A E9-18 P9-4B E9-19 6.

Indicate the applicability of Q9-21 budgeting in Q9-22 nonmanufacturing companies. BE9-10 E9-3 E9-18 E9-19 Broadening Your Perspective Application BYP9-1 E9-9 E9-10 E9-11 E9-12 P9-1A P9-2A P9-1B P9-2B Analysis Synthesis BE9-1 Evaluation P9-3A P9-3B P9-3A P9-3B E9-16 E9-20 P9-5A P9-5B BYP9-3 BYP9-4 BYP9-5 BYP9-6 BYP9-2 BYP9-7 BYP9-8 BYP9-9 BLOOM’S TAXONOMY TABLE Copyright © 2012 John Wiley & Sons, Inc. 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 9-3 ANSWERS TO QUESTIONS 1. (a) A budget is a formal written statement of management’s plans for a specified future time period, expressed in financial terms.

(b) A budget aids management in planning because it represents the primary method of communicating agreed-upon objectives throughout the organization. Once adopted, a budget becomes an important basis for evaluating performance. The (1) (2) (3) 3. The essentials of effective budgeting are: (1) a sound organizational structure, (2) research and analysis, and (3) acceptance by all levels of management. (a) Disagree. Accounting information makes major contributions to the budgeting process.

You can check your reasoning as you tackle a problem using our interactive solutions viewer. Unlike static PDF Student Solutions Manual For Whitten/Davis/Peck/Stanley's Chemistry, 10th 10th Edition solution manuals or printed answer keys, our experts show you how to solve each problem step-by-step. Chemistry whitten solution manual. No need to wait for office hours or assignments to be graded to find out where you took a wrong turn.

Accounting provides the starting point of budgeting by providing historical data on revenues, costs, and expenses. An accountant becomes the translator of the budget and communicates the budget to all areas of responsibility. Accountants also prepare periodic budget reports that compare actual results with planned objectives and provide a basis for evaluating performance. (b) The budget itself, and the administration of the budget, are the responsibility of management. The budget period should be long enough to provide an attainable goal under normal business conditions.

The budget period should minimize the impact of seasonal and cyclical business fluctuations, but it should not be so long that reliable estimates are impossible. The most common budget period is one year. Long-range planning usually encompasses a period of at least five years. It involves the selection of strategies to achieve long-term goals and the development of policies and plans to implement the strategies. In addition, long-range planning reports contain considerably less detail than budget reports. Participative budgeting involves the use of a “bottom-to-top” approach, which requires input from lower level management during the budgeting process so as to involve employees from various levels and areas within the company. The potential benefits of this approach are lower-level managers have more detailed knowledge of the specifics of their job, and thus should be able to provide better budgetary estimates.

Weygandt Managerial Accounting 7e Solutions

In addition, by involving lower-level managers in the process, it is more likely that they will perceive the budget as being fair and reasonable. One disadvantage of participative budgeting is that it takes more time, and thus costs more. Another disadvantage of participative budgeting is that it may enable managers to game the system through such practices as budgetary slack.

9-4 Copyright © 2012 John Wiley & Sons, Inc. Weygandt, Managerial Accounting, 6/e, Solutions Manual (For Instructor Use Only) primary benefits of budgeting are: It requires all levels of management to plan ahead and to formalize goals on a recurring basis. It provides definite objectives for evaluating performance at each level of responsibility.

It creates an early warning system for potential problems, so that management can make changes before things get out of hand. (4) It facilitates the coordination of activities within the business by correlating the goals of each segment with overall company objectives.

(5) It results in greater management awareness of the entity’s overall operations and the impact of external factors such as economic trends. (6) It motivates personnel throughout the organization to meet planned objectives. Questions Chapter 9 (Continued) 8.

Budgetary slack is the amount by which a manager intentionally underestimates budgeted revenues or overestimates budgeted expenses in order to make it easier to achieve budgetary goals. Managers may have an incentive to create budgetary slack in order to increase the likelihood of receiving a bonus, or decrease the likelihood of losing their job. A master budget is a set of interrelated budgets that constitutes a plan of action for a specified time period. The master budget is developed within the framework of a sales forecast.

The sales budget is the starting point in preparing the master budget. An inaccurate sales budget may adversely affect net income. An overly optimistic sales budget may result in excessive inventories and a very conservative sales budget may lead to inventory shortages. The statement is false. The production budget only shows the units that must be produced to meet anticipated sales and ending inventory requirements. The required units of production are 155,000 (160,000 + 15,000 = 175,000 – 20,000 = 155,000). The desired ending direct materials units are 21,000 (64,000 + 9,000 = 73,000 – 52,000 = 21,000).

Total budgeted direct labor costs are $960,000 (80,000 X.75 X $16 = $960,000). (a) Manufacturing overhead rate based on direct labor cost is 48% $198,000 + $162,000 = $360,000; $360,000 ÷ (150,000 X 1/3 X $15/hr.) = 48%. (b) Manufacturing overhead rate per direct labor hour is $7.20 ($360,000 ÷ 50,000).

The first quarter budgeted selling and administrative expenses are $74,000 (12% X $200,000) + $50,000. The second quarter total is $78,800 (12% X $240,000) + $50,000. The budgeted cost per unit of product is $46 ($10 + $20 + $16).

Managerial Accounting Solutions Manual Pdf

Gross profit per unit is $19 ($65 – $46). Total budgeted gross profit is $475,000 (25,000 X $19). The supporting schedules are the budgets for sales, direct materials, direct labor, and manufacturing overhead. The three sections of a cash budget are: (1) cash receipts, (2) cash disbursements, and (3) financing.

The cash budget also shows the beginning and ending cash balances. Cash collections are: January—$600,000 X 40% = $240,000. February—$600,000 X 50% = $300,000. March—$600,000 X 10% = $60,000.

Financial & Managerial Accounting Weygandt

The formula is: Budgeted cost of goods sold plus desired ending merchandise inventory minus beginning merchandise inventory equals required merchandise purchases. In a service company, expected revenues can be obtained from expected output or expected input. The former is based on anticipated billings of clients for services provided.

The latter is based on expected billable time of the professional staff. Copyright © 2012 John Wiley & Sons, Inc. Weygandt, Managerial Accounting, 6/e, Solutions Manual (For Instructor Use Only) 9-5 SOLUTIONS TO BRIEF EXERCISES BRIEF EXERCISE 9-1 Sales Budget Production Budget Direct Materials Budget Direct Labor Budget Manufacturing Overhead Budget Operating Budgets Budgeted Balance Sheet Financial Budgets Selling and Administrative Expense Budget Budgeted Income Statement Capital Expenditure Budget 9-6 Cash Budget Copyright © 2012 John Wiley & Sons, Inc.