managerial accounting exercises 267535

PE18 1A Management Process Three phases of the management process are controlling, planning, and decision making. Match the following descriptions to the proper phase. Phase of management process Description Controlling a. Long range courses of action Decision Making b. Inherent in planning, directing, controlling, and improving Planning c. Monitoring the operating results of implemented plans and comparing the actual results with expected results. PE18 2A Direct Materials, direct labor, and factory overhead Identify the following costs as direct materials (DM), direct labor (DL), or factory overhead (FO) for an automobile manufacturer. a. Steel b. Wages of employees that operates painting equipment c. Oil used for assembly line machinery d. Wages of the plant supervisor PE18 3A Prime and conversion costs Identify the following costs as a prime cost (P), conversion cost (C), or both (B) for an automobile manufacturer. a. Steel b. Wages of employees that operate paining equipment c. Oil used for assembly line machinery d. Wages of the plant manager PE18 4A Product and period costs Identify the following costs as a product cost or a period cost for an automobile manufacturer a. Sales staff salaries b. Rent on office building c. Wages of employees that operate paining equipment d. Steel PE18 5A Cost of goods sold, cost of goods manufactured Swain Company has the following information for January: Cost of direct materials used in production………………………$12,000 Direct labor……………………………………………………………………….31,000 Factory overhead………………………………………………………………20,000 Work in process inventory, January…