Description
Application Problems 3 •Page 120: Brief Exercises 3-7 and 3-9 •Page 123: Exercise 3-7 •Pages 164-165: Brief Exercise 4-2, and 4-8 •Page 170: Exercise 4-8
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Explanation & Answer
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Running head: ANSWERS
1
Managerial Accounting
ANSWERS
2
Managerial vs Financial Accounting
BE 3-7 solution
Items
cost of conversion
Number of transferred units
Ongoing task, task at end
(5,000* 100%)
(5,000* 40%)
Total equivalent units
40,000
40,000
+5,000
+2,000
=42,000
=45,000
Transfer out cost accounted (40,000 *$11)
440,000
Ongoing work, at end
Ma...