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management concepts and manufacturing and income statements

Following are three separate events affecting the managerial accounting systems for different companies. Match the management concept(s) that the company is likely to adopt for the event identified.There is some overlap in the meaning of customer orientation and total quality management and, therefore, some responses can include more than one concept.

The following calendar year-end information is taken from the December 31, 2005, adjusted trial balance and other records of Plaza Company.

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Following are three separate events affecting the managerial accounting systems for different companies. Match the management concept(s) that the company is likely to adopt for the event identified.There is some overlap in the meaning of customer orientation and total quality management and, therefore, some responses can include more than one concept.

The following calendar year-end information is taken from the December 31, 2005, adjusted trial balance and other records of Plaza Company.

1 B
2 A, D
3 A, C

PLAZA COMPANY
Manufacturing Statement
For Year Ended December 31, 2005

Direct materials
Raw materials, December 31, 2004 168,850
Raw materials purchases 927,000
Raw materials available for use 1,095,850
Less: Raw materials, December 31, 2005 184,000
Direct materials used . . . . . . . . . . . . . . . . . . . . . . . . 911,850
Direct labor . . . . . . . ...

Solution Summary

This solution is comprised of a detailed explanation to answer management concepts and prepare manufacturing and income statements for Plaza Co.

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