Extron 38 1 Managerial Accounting E1-17 McQueen Motor Company manufactures automobiles. During September 2017 the company purchased 5,000 head lamps at a cost of $15 per lamp. McQueen withdrew 4,650 lamps from the warehouse during the month. Fifty of these lamps were used to replace the head lamps in autos used by traveling sales staff. The remaining 4,600 lamps were put in autos manufactured during the month. Of the autos put into production during September 2017, 90% were completed and transferred to the company's storage lot. Of the cars completed during the month, 70 were sold by September 30. Determine the amount of cost to appear in verious accounts, and indicate in which financial statements these accosots wold appear (LO 3), AP Instructions (a) Determine the cost of head lamps that would appear in each of the following accouin at September 30, 2017: Raw Materials, Work in Process, Finished Goods, Cost of God Sold, and Selling Expenses. (b) each of the accounts in (a) would appear on the income statement or on the balance sheet at September 30, 2017 Write a short memo to the chief accountant, indicating whether and who Identify various managerial accounting prectices (LO 4), C E1-18 The following is a list of terms related to managerial accounting practices. 1. Activity-based costing. 2. Just-in-time inventory 3. Balanced scorecard. 4. Value chain. Instructions Match each of the terms with the statement below that best describes the term. (a) all aspects of performance using financial and nonfinancial measures in an integrated fashion. () service. (c) inventory by reducing the amount of inventory on hand. (d) the activities that cause the incurrence of the overhead cost. A performance-measurement technique that attempts to consider and evaluate The group of activities associated with providing a product or performing a An approach used to reduce the cost associated with handling and holding A method used to allocate overhead to products based on each product's use of