AC239 Unit 2 Wiley

After you have completed your Learning Activity allowing you to practice the Reading concepts, complete your Assignment in "WileyPlus.”

Access the homework platform through the WileyPlus Assignments tab under "Course Home.” You will have 5 attempts to complete each problem and will receive immediate feedback each time you click on "Submit.” Your work will be graded automatically.

Complete the following exercises in WileyPlus:

Brief Exercise 19-1
Brief Exercise 19-2
Brief Exercise 19-3
Brief Exercise 19-4
Problem 19-1A
 
 	Brief Exercise 19-1
 
 	Your answer is correct.
 	 
Complete the following comparison table between managerial and financial accounting.
		Financial Accounting		Managerial Accounting
Primary users of reports		  		  
 				
Types of reports		  		  
 				
Frequency of reports		  		  
 				
Purpose of reports		  		  
 				
Content of reports		  		  
 				
Verification process		  		  
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Copyright © 2000-2014 by John Wiley & Sons, Inc. or related companies. All rights reserved.


 
 

 	Brief Exercise 19-3
 
 	Your answer is correct.
 	 
Identify which of the following statements best describes the functions of the management of an organization.
(a)		  
	requires management to look ahead and to establish objectives. A key objective of management is to add value to the business
 				
(b)		  
	involves coordinating the diverse activities and human resources of a company to produce a smooth-running operation. This function relates to the implementation of planned objectives.
 				
(c)		  
	is the process of keeping the activities on track. Management must determine whether goals are being met and what changes are necessary when there are deviations.
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 	Question Attempts: 1 of 5 used	 

	 

 



 
Copyright © 2000-2014 by John Wiley & Sons, Inc. or related companies. All rights reserved.


 
Brief Exercise 19-4
 
 	Your answer is correct.
 	 
Determine whether each of the following costs should be classified as direct materials, direct labor, or manufacturing overhead.
(a)		Frames and tires used in manufacturing bicycles.		  

 				
(b)		Wages paid to production workers.		  

 				
(c)		Insurance on factory equipment and machinery.		  

 				
(d)		Depreciation on factory equipment.		  

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Problem 19-1A
Lott Company specializes in manufacturing a unique model of bicycle helmet. The model is well accepted by consumers, and the company has enough orders to keep the factory production at 14,070 helmets per month (80% of its full capacity). Lott- monthly manufacturing cost and other expense data are as follows.
Rent on factory equipment		$8,800
Insurance on factory building		1,090
Raw materials (plastics, polystyrene, etc.)		75,070
Utility costs for factory		700
Supplies for general office		140
Wages for assembly line workers		52,410
Depreciation on office equipment		530
Miscellaneous materials (glue, thread, etc.)		1,980
Factory manager- salary		5,810
Property taxes on factory building		440
Advertising for helmets		13,800
Sales commissions		9,470
Depreciation on factory building		1,660



	 
 
 	 
 	Your answer is correct.
 	 
Prepare an answer sheet.
		Product Costs		
Cost Item		Direct Materials		Direct Labor		Manufacturing Overhead		Period Costs
Rent on factory equipment		$  
	$  
	$  
	$  

Insurance on factory building		  
	  
	  
	  

Raw materials		  
	  
	  
	  

Utility costs for factory		  
	  
	  
	  

Supplies for general office		  
	  
	  
	  

Wages for assembly line workers		  
	  
	  
	  

Depreciation on office equipment		  
	  
	  
	  

Miscellaneous materials		  
	  
	  
	  

Factory manager- salary		  
	  
	  
	  

Property taxes on factory building		  
	  
	  
	  

Advertising for helmets		  
	  
	  
	  

Sales commissions		  
	  
	  
	  

Depreciation on factory building		  
	  
	  
	  

		$  
	$  
	$  
	$  






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 	Your answer is correct.
 	 
Compute the cost to produce one helmet. (Round answer to 2 decimal places, e.g. 1.25.)
The cost to produce one helmet		$  

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Brief Exercise 19-2 (Essay)
The Sarbanes-Oxley Act (SOX) has important implications for the financial community.

Explain two implications of SOX.