ACC 206 Week 2 Exercise Solution ACC 206 Week 2 Journal Institute of Management Accounting Institute of Management Accounting While there are many instances of overlap between financial accounting and management accounting, each group’s primary focus is different. Review the Institute of Management Accounting’s (IMA) website, specifically the “About IMA” and the “Resources and Publications” sections of the website. Are you surprised by the topics that management accountants are focusing on? Why or why not? What interests you more, financial accounting or management accounting? Carefully review the Grading Rubric for the criteria that will be used to evaluate your journal entry.
ACC 206 Week 3 Assignment Chapter 4 and 5 Problems Chapter 4 and 5 Problems Please complete the following 7 exercises below in either Excel or a word document (but must be single document). You must show your work where appropriate (leaving the calculations within Excel cells is acceptable). Save the document, and submit it in the appropriate week using the Assignment Submission button. Chapter 4 Exercise 3 3. Cost flows and overhead application Cleveland Metals uses a job cost system and applies factory overhead to production at a predetermined rate of 180% of direct labor cost. Data pertaining to recent operations follow. • Job no. 636 was the only job in process on January 1 of the current year. The Work in Process account contained a $24,600 balance on this date. • Jobs no. 637, 638, and 639 were started during January. Total direct material requisitions and direct labor incurred during January amounted to $89,200 and $114,500, respectively.
Published on May 15, 2014