Financial accounting information system and a cost management information

Q. 2 What s the difference between financial accounting information system and a cost management information?

Q. 3 What are the objectives of cost management information system?

Q. 4 Define and explain the two major subsystems of the cost management information system.

Q. 7 What is direct cost? And indirect cost?

Wyandotte Company provided the following information for the last calendar year:

Beginning inventory:

Direct materials $25,900

Work in progress 44,700

Ending inventory:

Direct materials $18,000

Work in progress 22,700

During the year, direct materials purchases amounted to $256,900, direct labor cost was $176,000 and overhead cost was $308,400. There were 40,000 units produced.

Required:

Calculate the total cost of direct materials used in production.Calculate the cost of goods manufactured. Calculate the unit manufacturing cost.

Sample Solution
Financial accounting information system and a cost management information

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