Week_11_ACCT Problems - E1-7,P4-6, E6-7

week_11_acct_problems_-_e1-7p1-1_p4-6_e6-7.xls

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E1-7

Name:		Kylie Monhollen
Section:		Week 11
When subtotals and totals are correct the cell will change to green.
Exercise 1-7
a.
Valley View Manufacturing Co.
Statement of Cost of Goods Manufactured
For the Month Ended January 31, 20--
Materials:
	Inventory, January 1		$
	Purchases
	Total cost of available materials		$
	Less inventory, January 31
	Cost of materials ued		$
	Less indirect materials used
	Cost of direct materials used in production			$
Direct labor
Factory overhead:
	Indirect materials		$
	Indirect labor
	Other
	Total factory overhead
Total manufacturing cost				$
	Add work in process inventory, January 1
				$
	Less work in process inventory, January 31
Cost of goods manufactured				$
b.
Cost of goods sold:
	Finished goods inventory, January 1		$
	Add costs of goods manufactured
	Goods available for sale		$
	Less finished goods inventory, January 31
	Cost of goods sold		$

Cost of materials used includes both direct and indirect materials when the company uses one materials account.

When the actual overhead and the applied overhead don't equal an adjustment must be made to convert the actual to applied.

This should represent only direct materials debited to work-in-process during the period.

This is the amount of the debit into finished goods and the credit into work-in-process for completed products.

This statement reconciles three accounts: materials, work-in-process and manufacturing overhead.

CAUTION: when copying formulas from one cell to another be sure to copy, paste special and check formulas.

Enter all amounts as positive values in this column

P1-1

Name:

Section:

When subtotals and totals are correct the cell will change to green.

Problem 1-1

Saito's Sushi Bar

Performance Report - Dining Room

February 28, 2013

Budgeted

Actual

Variance

Year-to-

Expense

February

Date

February

Date

February

Date

Dining room wages

Laundry and housekeeping

Utilities

Depreciation

Total

CAUTION: when copying formulas from one cell to another be sure to copy, paste special and check formulas.

Select from drop-down list

Remember this year-to-date would include the amount budgeted for both January and February.

The variance is a measure between what was budgeted for the month and the actual amount incurred for the month. Budget - Actual = Negative = Unfavorable Budget - Actual = Positive = Favorable

This is a year-to-date variance. Budget - Actual = Negative = Unfavorable Budget - Actual = Positive = Favorable

P4-6

Name:
Section:
When totals are correct the cell will change to green.
Problem 4-6
Schedule for Distribution of Service Department Costs—Direct Method
		Bldg.	Factory
Description		Maint.	Office	Mixing	Blending	Finishing	Total
Total from factory overhead analysis sheets
Allocate building maintenance
based on floor space:
	Mixing
	Blending
	Finishing
Allocate factory office
based on number of employees:
	Mixing
	Blending
	Finishing
Total - direct and apportioned expenses

CAUTION: when copying formulas from one cell to another be sure to copy, paste special and check formulas.

E6-7

Name:		Kylie Monhollen
Section:		Week 11
When totals, subtotals, and final amounts are correct the cell will change to green.
Exercise 6-7
Cost of production for month:
	Materials
	Labor
	Factory overhead
Total cost to be accounted for			*
Unit output for month:
	Finished and transferred
	Equivalent units of work in process
		Total
Unit cost for month:
	Materials
	Labor
	Factory overhead
		Total
Inventory costs:
	Cost of goods finished and transferred
	Cost of work in process, end of month:
		Materials
		Labor
		Factory overhead
Total production costs accounted for			*
	*rounding difference

Use Paste Special/Formulas when copying between cells