Cost Accounting - A Managerial Emphasis, 14th Edition

Cover......Page 1
Title Page......Page 2
Copyright......Page 3
Contents......Page 5
iTunes Variable Pricing: Downloads Are Down, but Profits Are Up......Page 25
Financial Accounting, Management Accounting, and Cost Accounting......Page 26
Value Chain and Supply Chain Analysis and Key Success Factors......Page 28
Value-Chain Analysis......Page 29
Key Success Factors......Page 30
Decision Making, Planning, and Control: The Five-Step Decision-Making Process......Page 32
Key Management Accounting Guidelines......Page 34
Different Costs for Different Purposes......Page 35
The Chief Financial Officer and the Controller......Page 36
Institutional Support......Page 37
Concepts in Action: Management Accounting Beyond the Numbers......Page 38
Typical Ethical Challenges......Page 40
Decision Points......Page 41
Questions......Page 42
Exercises......Page 43
Problems......Page 45
Collaborative Learning Problem......Page 48
GM Collapses Under the Weight of its Fixed Costs......Page 49
Costs and Cost Terminology......Page 50
Direct Costs and Indirect Costs......Page 51
Factors Affecting Direct/Indirect Cost Classifications......Page 52
Cost-Behavior Patterns: Variable Costs and Fixed Costs......Page 53
Cost Drivers......Page 55
Relevant Range......Page 56
Relationships of Types of Costs......Page 57
Use Unit Costs Cautiously......Page 58
Manufacturing-, Merchandising-, and Service-Sector Companies......Page 59
Inventoriable Costs......Page 60
Period Costs......Page 61
Manufacturing-Sector Example......Page 62
Recap of Inventoriable Costs and Period Costs......Page 65
Prime Costs and Conversion Costs......Page 66
Overtime Premium and Idle Time......Page 67
Different Meanings of Product Costs......Page 68
Analyzing the Relevant Information for Making Decisions......Page 70
Problem for Self-Study......Page 71
Decision Points......Page 73
Questions......Page 74
Exercises......Page 75
Problems......Page 79
Collaborative Learning Problem......Page 84
How the “The Biggest Rock Show Ever” Turned a Big Profit......Page 85
Essentials of CVP Analysis......Page 86
Contribution Margins......Page 87
Expressing CVP Relationships......Page 89
Breakeven Point......Page 91
Target Operating Income......Page 92
Target Net Income and Income Taxes......Page 93
Decision to Advertise......Page 95
Sensitivity Analysis and Margin of Safety......Page 96
Alternative Fixed-Cost/Variable-Cost Structures......Page 98
Operating Leverage......Page 99
Effects of Sales Mix on Income......Page 100
Concepts in Action: Fixed Costs, Variable Costs, and the Future of Radio......Page 101
CVP Analysis in Service and Nonprofit Organizations......Page 103
Contribution Margin Versus Gross Margin......Page 104
Problem for Self-Study......Page 105
Decision Points......Page 106
APPENDIX: Decision Models and Uncertainty......Page 107
Terms to Learn......Page 109
Exercises......Page 110
Problems......Page 114
Collaborative Learning Problem......Page 120
Job Costing and Nexamp’s Next Generation Energy and Carbon Solutions......Page 121
Building-Block Concepts of Costing Systems......Page 122
Job-Costing and Process-Costing Systems......Page 123
Job Costing: Evaluation and Implementation......Page 125
Time Period Used to Compute Indirect-Cost Rates......Page 126
General Approach to Job Costing......Page 127
Concepts in Action: Job Costing on Cowboys Stadium......Page 131
The Role of Technology......Page 132
Actual Costing......Page 133
A Normal Job-Costing System in Manufacturing......Page 134
General Ledger......Page 135
Explanations of Transactions......Page 136
Subsidiary Ledgers......Page 137
Budgeted Indirect Costs and End-of-Accounting-Year Adjustments......Page 140
Adjusted Allocation-Rate Approach......Page 141
Proration Approach......Page 142
Choice Among Approaches......Page 144
Variations from Normal Costing: A Service-Sector Example......Page 145
Problem for Self-Study......Page 146
Decision Points......Page 148
Questions......Page 149
Exercises......Page 150
Problems......Page 155
Collaborative Learning Problem......Page 160
LG Electronics Reduces Costs and Inefficiencies Through Activity-Based Costing......Page 161
Broad Averaging and Its Consequences......Page 162
Product-Cost Cross-Subsidization......Page 163
Design, Manufacturing, and Distribution Processes......Page 164
Simple Costing System Using a Single Indirect-Cost Pool......Page 165
Applying the Five-Step Decision-Making Process at Plastim......Page 167
Reasons for Refining a Costing System......Page 168
Plastim’s ABC System......Page 169
Cost Hierarchies......Page 172
Implementing ABC at Plastim......Page 173
Comparing Alternative Costing Systems......Page 176
Considerations in Implementing Activity-Based- Costing Systems......Page 177
Concepts in Action: Successfully Championing ABC......Page 178
Cost Reduction and Process Improvement Decisions......Page 179
Design Decisions......Page 180
Activity-Based Costing and Department Costing Systems......Page 181
ABC in Service and Merchandising Companies......Page 182
Problem for Self-Study......Page 183
Decision Points......Page 186
Questions......Page 187
Exercises......Page 188
Problems......Page 195
Collaborative Learning Problem......Page 204
“Scrimping” at the Ritz: Master Budgets......Page 205
Strategic Plans and Operating Plans......Page 207
Coordination and Communication......Page 208
Motivating Managers and Other Employees......Page 209
Time Coverage of Budgets......Page 210
Steps in Preparing an Operating Budget......Page 211
Financial Planning Models and Sensitivity Analysis......Page 220
Concepts in Action: Web-Enabled Budgeting and Hendrick Motorsports......Page 221
Organization Structure and Responsibility......Page 222
Responsibility and Controllability......Page 223
Budgetary Slack......Page 224
Budgeting in Multinational Companies......Page 226
Problem for Self-Study......Page 227
Decision Points......Page 228
APPENDIX: The Cash Budget......Page 229
Exercises......Page 234
Problems......Page 238
Collaborative Learning Problem......Page 247
The NBA: Where Frugal Happens......Page 249
The Use of Variances......Page 250
Static Budgets and Static-Budget Variances......Page 251
Flexible Budgets......Page 253
Flexible-Budget Variances and Sales-Volume Variances......Page 254
Sales-Volume Variances......Page 255
Flexible-Budget Variances......Page 256
Obtaining Budgeted Input Prices and Budgeted Input Quantities......Page 257
Data for Calculating Webb’s Price Variances and Efficiency Variances......Page 258
Efficiency Variance......Page 259
Concepts in Action: Starbucks Reduces Direct-Cost Variances to Brew a Turnaround......Page 260
Summary of Variances......Page 262
Journal Entries Using Standard Costs......Page 263
Standard Costing and Information Technology......Page 264
When to Investigate Variances......Page 265
Organization Learning......Page 266
Benchmarking and Variance Analysis......Page 267
Problem for Self-Study......Page 269
Decision Points......Page 270
APPENDIX: Market-Share and Market-Size Variances......Page 271
Terms to Learn......Page 272
Exercises......Page 273
Problems......Page 277
Collaborative Learning Problem......Page 283
Overhead Cost Variances Force Macy’s to Shop for Changes in Strategy......Page 285
Planning of Variable and Fixed Overhead Costs......Page 286
Standard Costing at Webb Company......Page 287
Developing Budgeted Variable Overhead Rates......Page 288
Developing Budgeted Fixed Overhead Rates......Page 289
Variable Overhead Efficiency Variance......Page 290
Variable Overhead Spending Variance......Page 292
Journal Entries for Variable Overhead Costs and Variances......Page 293
Fixed Overhead Cost Variances......Page 294
Production-Volume Variance......Page 295
Interpreting the Production-Volume Variance......Page 296
Journal Entries for Fixed Overhead Costs and Variances......Page 297
Integrated Analysis of Overhead Cost Variances......Page 299
4-Variance Analysis......Page 300
Production-Volume Variance and Sales-Volume Variance......Page 301
Concepts in Action: Variance Analysis and Standard Costing Help Sandoz Manage Its Overhead Costs......Page 303
Variance Analysis and Activity-Based Costing......Page 304
Flexible Budget and Variance Analysis for Direct Labor Costs......Page 305
Flexible Budget and Variance Analysis for Fixed Setup Overhead Costs......Page 307
Overhead Variances in Nonmanufacturing Settings......Page 308
Financial and Nonfinancial Performance Measures......Page 309
Problem for Self-Study......Page 310
Decision Points......Page 312
Exercises......Page 313
Problems......Page 317
Collaborative Learning Problem......Page 322
Lean Manufacturing Helps Companies Reduce Inventory and Survive the Recession......Page 323
Variable Costing......Page 324
Comparing Variable and Absoption Costing......Page 325
Comparing Income Statements for One Year......Page 326
Comparing Income Statements for Three Years......Page 328
Variable Costing and the Effect of Sales and Production on Operating Income......Page 331
Absorption Costing and Performance Measurement......Page 332
Undesirable Buildup of Inventories......Page 333
Proposals for Revising Performance Evaluation......Page 334
Throughput Costing......Page 335
A Comparison of Alternative Inventory-Costing Methods......Page 336
Absorption Costing and Alternative Denominator- Level Capacity Concepts......Page 337
Effect on Budgeted Fixed Manufacturing Cost Rate......Page 338
Product Costing and Capacity Management......Page 339
Pricing Decisions and the Downward Demand Spiral......Page 340
Performance Evaluation......Page 341
Concepts in Action: The “Death Spiral” and the End of Landline Telephone Service......Page 342
External Reporting......Page 343
Tax Requirements......Page 345
Difficulties in Forecasting Fixed Manufacturing Costs......Page 346
Problem for Self-Study......Page 347
Decision Points......Page 349
APPENDIX: Breakeven Points in Variable Costing and Absorption Costing......Page 350
Questions......Page 351
Exercises......Page 352
Problems......Page 357
Collaborative Learning Problem......Page 362
Management Accountants at Cisco Embrace Opportunities, Enhance Sustainability......Page 363
Basic Assumptions and Examples of Cost Functions......Page 364
Linear Cost Functions......Page 365
Review of Cost Classification......Page 366
Identifying Cost Drivers......Page 367
Cost Drivers and the Decision-Making Process......Page 368
Conference Method......Page 369
Quantitative Analysis Method......Page 370
Steps in Estimating a Cost Function Using Quantitative Analysis......Page 371
High-Low Method......Page 373
Regression Analysis Method......Page 375
Evaluating Cost Drivers of the Estimated Cost Function......Page 376
Choosing Among Cost Drivers......Page 377
Cost Drivers and Activity-Based Costing......Page 379
Nonlinear Cost Functions......Page 380
Learning Curves......Page 381
Cumulative Average-Time Learning Model......Page 382
Incremental Unit-Time Learning Model......Page 383
Incorporating Learning-Curve Effects into Prices and Standards......Page 384
Data Collection and Adjustment Issues......Page 385
Problem for Self-Study......Page 387
Decision Points......Page 389
APPENDIX: Regression Analysis......Page 390
Exercises......Page 398
Problems......Page 405
Collaborative Learning Problem......Page 411
Relevant Costs, JetBlue, and Twitter......Page 413
Information and the Decision Process......Page 414
The Concept of Relevance......Page 415
Relevant Costs and Relevant Revenues......Page 416
One-Time-Only Special Orders......Page 417
Outsourcing and Idle Facilities......Page 420
Strategic and Qualitative Factors......Page 422
International Outsourcing......Page 423
Opportunity Costs and Outsourcing......Page 424
The Opportunity-Cost Approach......Page 425
Carrying Costs of Inventory......Page 426
Product-Mix Decisions with Capacity Constraints......Page 428
Customer Profitability, Activity-Based Costing, and Relevant Costs......Page 429
Relevant-Revenue and Relevant-Cost Analysis of Dropping a Customer......Page 431
Relevant-Revenue and Relevant-Cost Analysis of Closing or Adding Branch Offices or Segments......Page 432
Irrelevance of Past Costs and Equipment-Replacement Decisions......Page 433
Decisions and Performance Evaluation......Page 435
Problem for Self-Study......Page 436
Decision Points......Page 438
APPENDIX: Linear Programming......Page 439
Terms to Learn......Page 441
Exercises......Page 442
Problems......Page 447
Collaborative Learning Problem......Page 454
Target Pricing and Tata Motors’ $2,500 Car......Page 455
Major Influences on Pricing Decisions......Page 456
Costing and Pricing for the Short Run......Page 457
Effect of Time Horizon on Short-Run Pricing Decisions......Page 458
Calculating Product Costs for Long-Run Pricing Decisions......Page 459
Alternative Long-Run Pricing Approaches......Page 460
Doing Competitor Analysis......Page 462
Implementing Target Pricing and Target Costing......Page 463
Concepts in Action: Extreme Target Pricing and Cost Management at IKEA......Page 464
Value-Chain Analysis and Cross-Functional Teams......Page 465
Achieving the Target Cost per Unit for Provalue......Page 466
Cost-Plus Target Rate of Return on Investment......Page 468
Alternative Cost-Plus Methods......Page 469
Life-Cycle Product Budgeting and Costing......Page 470
Life-Cycle Budgeting and Pricing Decisions......Page 471
Customer Life-Cycle Costing......Page 472
Peak-Load Pricing......Page 473
Antitrust Laws......Page 474
Problem for Self-Study......Page 475
Decision Points......Page 477
Questions......Page 478
Exercises......Page 479
Problems......Page 483
Collaborative Learning Problem......Page 488
Balanced Scorecard Helps Infosys Transform into a Leading Consultancy......Page 489
What Is Strategy?......Page 490
Building Internal Capabilities: Quality Improvement and Reengineering at Chipset......Page 492
The Balanced Scorecard......Page 493
Strategy Maps and the Balanced Scorecard......Page 494
Implementing a Balanced Scorecard......Page 497
Features of a Good Balanced Scorecard......Page 498
Pitfalls in Implementing a Balanced Scorecard......Page 499
Evaluating the Success of Strategy and Implementation......Page 500
Strategic Analysis of Operating Income......Page 501
Growth Component of Change in Operating Income......Page 502
Price-Recovery Component of Change in Operating Income......Page 504
Productivity Component of Change in Operating Income......Page 505
Further Analysis of Growth, Price-Recovery, and Productivity Components......Page 506
Concepts in Action: The Growth Versus Profitability Choice at Facebook......Page 507
Applying the Five-Step Decision-Making Framework to Strategy......Page 508
Engineered and Discretionary Costs......Page 509
Managing Unused Capacity......Page 510
Problem for Self-Study......Page 511
APPENDIX: Productivity Measurement......Page 515
Exercises......Page 518
Problems......Page 521
Collaborative Learning Problem......Page 524
Minding the Store: Analyzing Customers, Best Buy Decides Not All Are Welcome......Page 525
Purposes of Cost Allocation......Page 526
Criteria to Guide Cost-Allocation Decisions......Page 527
Cost Allocation Decisions......Page 529
Allocating Corporate Costs to Divisions and Products......Page 531
Implementing Corporate Cost Allocations......Page 532
Customer-Profitability Analysis......Page 533
Customer-Cost Analysis......Page 534
Customer-Level Costs......Page 535
Customer-Profitability Profiles......Page 537
Presenting Profitability Analysis......Page 538
Using the Five-Step Decision-Making Process to Manage Customer Profitability......Page 540
Sales Variances......Page 541
Flexible-Budget Variance and Sales-Volume Variance......Page 543
Sales-Quantity Variance......Page 544
Problem for Self-Study......Page 546
APPENDIX: Mix and Yield Variances for Substitutable Inputs......Page 548
Terms to Learn......Page 551
Exercises......Page 552
Problems......Page 557
Collaborative Learning Problem......Page 564
Cost Allocation and the Future of “Smart Grid” Energy Infrastructure......Page 565
Allocating Support Department Costs Using the Single- Rate and Dual-Rate Methods......Page 566
Allocation Based on the Demand for (or Usage of) Computer Services......Page 567
Allocation Based on the Supply of Capacity......Page 568
Single-Rate Versus Dual-Rate Method......Page 569
Budgeted Versus Actual Rates......Page 570
Budgeted Versus Actual Usage......Page 571
Direct Method......Page 573
Step-Down Method......Page 574
Reciprocal Method......Page 576
Overview of Methods......Page 579
Incremental Cost-Allocation Method......Page 580
Cost Allocations and Contract Disputes......Page 581
Fairness of Pricing......Page 582
Bundling and Revenue Allocation......Page 583
Stand-Alone Revenue-Allocation Method......Page 584
Incremental Revenue-Allocation Method......Page 585
Problem for Self-Study......Page 587
Terms to Learn......Page 589
Exercises......Page 590
Problems......Page 594
Collaborative Learning Problem......Page 598
Joint Cost Allocation and the Production of Ethanol Fuel......Page 599
Joint-Cost Basics......Page 600
Approaches to Allocating Joint Costs......Page 602
Sales Value at Splitoff Method......Page 603
Physical-Measure Method......Page 605
Net Realizable Value Method......Page 606
Constant Gross-Margin Percentage NRV Method......Page 607
Choosing an Allocation Method......Page 609
Sell-or-Process-Further Decisions......Page 610
Joint-Cost Allocation and Performance Evaluation......Page 611
Accounting for Byproducts......Page 612
Concepts in Action: Byproduct Costing Keeps Wendy’s Chili Profitable . . . and on the Menu......Page 613
Production Method: Byproducts Recognized at Time Production Is Completed......Page 614
Problem for Self-Study......Page 615
Decision Points......Page 618
Exercises......Page 619
Problems......Page 624
Collaborative Learning Problem......Page 628
ExxonMobil and Accounting Differences in the Oil Patch......Page 629
Illustrating Process Costing......Page 630
Case 1: Process Costing with No Beginning or Ending Work-in-Process Inventory......Page 631
Case 2: Process Costing with Zero Beginning and Some Ending Work-in-Process Inventory......Page 632
Physical Units and Equivalent Units (Steps 1 and 2)......Page 633
Calculation of Product Costs (Steps 3, 4, and 5)......Page 634
Journal Entries......Page 635
Case 3: Process Costing with Some Beginning and Some Ending Work-in-Process Inventory......Page 636
Weighted-Average Method......Page 637
First-In, First-Out Method......Page 640
Comparison of Weighted-Average and FIFO Methods......Page 643
Transferred-In Costs in Process Costing......Page 644
Transferred-In Costs and the Weighted-Average Method......Page 645
Transferred-In Costs and the FIFO Method......Page 647
Points to Remember About Transferred-In Costs......Page 648
Overview of Operation-Costing Systems......Page 649
Illustration of an Operation-Costing System......Page 650
Journal Entries......Page 652
Problem for Self-Study......Page 653
Decision Points......Page 654
APPENDIX: Standard-Costing Method of Process Costing......Page 655
Exercises......Page 659
Problems......Page 663
Collaborative Learning Problem......Page 666
Rework Delays the Boeing Dreamliner by Three Years......Page 667
Defining Spoilage, Rework and Scrap......Page 668
Abnormal Spoilage......Page 669
Count All Spoilage......Page 670
Five-Step Procedure for Process Costing with Spoilage......Page 671
FIFO Method and Spoilage......Page 672
Inspection Points and Allocating Costs of Normal Spoilage......Page 675
Job Costing and Spoilage......Page 678
Job Costing and Rework......Page 679
Recognizing Scrap at the Time of Its Sale......Page 680
Recognizing Scrap at the Time of Its Production......Page 681
Concepts in Action: Managing Waste and Environmental Costs at KB Home......Page 682
Decision Points......Page 683
APPENDIX: Standard-Costing Method and Spoilage......Page 684
Exercises......Page 686
Problems......Page 689
Collaborative Learning Problem......Page 692
Toyota Plans Changes After Millions of Defective Cars Are Recalled......Page 693
Quality as a Competitive Tool......Page 694
The Financial Perspective: Costs of Quality......Page 695
The Internal-Business-Process Perspective: Analyzing Quality Problems and Improving Quality......Page 698
Making Decisions and Evaluating Quality Performance......Page 701
Time as a Competitive Tool......Page 703
Customer-Response Time and On-Time Performance......Page 704
Bottlenecks and Time Drivers......Page 705
Relevant Revenues and Relevant Costs of Time......Page 707
Managing Bottlenecks......Page 709
Balanced Scorecard and Time-Related Measures......Page 711
Problem for Self-Study......Page 712
Decision Points......Page 713
Exercises......Page 714
Problems......Page 719
Collaborative Learning Problem......Page 724
Costco Aggressively Manages Inventory to Thrive in Tough Times......Page 725
Costs Associated with Goods for Sale......Page 726
Economic-Order-Quantity Decision Model......Page 727
Safety Stock......Page 730
Cost of a Prediction Error......Page 732
Conflict Between the EOQ Decision Model and Managers’ Performance Evaluation......Page 733
Relevant Costs of JIT Purchasing......Page 734
Supplier Evaluation and Relevant Costs of Quality and Timely Deliveries......Page 735
JIT Purchasing, Planning and Control, and Supply- Chain Analysis......Page 736
Materials Requirements Planning......Page 737
Financial Benefits of JIT and Relevant Costs......Page 738
Enterprise Resource Planning (ERP) Systems......Page 739
Concepts in Action: After the Encore: Just-in-Time Live Concert Recordings......Page 740
Simplified Normal or Standard Costing Systems......Page 741
Accounting for Variances......Page 745
Lean Accounting......Page 749
Problem for Self-Study......Page 751
Decision Points......Page 752
Terms to Learn......Page 753
Exercises......Page 754
Problems......Page 757
Collaborative Learning Problem......Page 760
Target’s Capital Budgeting Hits the Bull’s-Eye......Page 761
Stages of Capital Budgeting......Page 762
Discounted Cash Flow......Page 764
Net Present Value Method......Page 765
Internal Rate-of-Return Method......Page 766
Sensitivity Analysis......Page 768
Uniform Cash Flows......Page 769
Nonuniform Cash Flows......Page 770
Accrual Accounting Rate-of-Return Method......Page 772
Relevant After-Tax Flows......Page 773
Categories of Cash Flows......Page 775
Project Management and Performance Evaluation......Page 778
Performance Evaluation......Page 779
Customer Value and Capital Budgeting......Page 780
Concepts in Action: International Capital Budgeting at Disney......Page 781
Problem for Self-Study......Page 782
Decision Points......Page 784
APPENDIX: Capital Budgeting and Inflation......Page 785
Exercises......Page 787
Problems......Page 791
Answers to Exercises in Compound Interest (Exercise 21-16)......Page 795
Symantec Wins $545 million Opinion in Transfer Pricing Dispute with the IRS......Page 797
Formal and Informal Systems......Page 798
Decentralization......Page 799
Benefits of Decentralization......Page 800
Costs of Decentralization......Page 801
Choices About Responsibility Centers......Page 802
Criteria for Evaluating Transfer Prices......Page 803
An Illustration of Transfer Pricing......Page 804
Distress Prices......Page 807
Full-Cost Bases......Page 808
Hybrid Transfer Prices......Page 810
Negotiated Pricing......Page 811
Dual Pricing......Page 812
A General Guideline for Transfer-Pricing Situations......Page 813
Multinational Transfer Pricing and Tax Considerations......Page 814
Transfer Pricing for Tax Minimization......Page 815
Transfer Prices Designed for Multiple Objectives......Page 816
Problem for Self-Study......Page 817
Decision Points......Page 819
Questions......Page 820
Exercises......Page 821
Problems......Page 824
Collaborative Learning Problem......Page 828
Misalignment Between CEO Compensation and Performance at AIG......Page 829
Financial and Nonfinancial Performance Measures......Page 830
Accounting-Based Measures for Business Units......Page 831
Return on Investment......Page 832
Residual Income......Page 833
Economic Value Added......Page 835
Comparing Performance Measures......Page 836
Alternative Time Horizons......Page 837
Alternative Asset Measurements......Page 838
Choosing the Timing of Feedback......Page 841
Calculating the Foreign Division’s ROI in the Foreign Currency......Page 842
Calculating the Foreign Division’s ROI in U.S. Dollars......Page 843
The Basic Trade-Off: Creating Incentives Versus Imposing Risk......Page 844
Intensity of Incentives and Financial and Nonfinancial Measurements......Page 845
Performance Measures at the Individual Activity Level......Page 846
Executive Performance Measures and Compensation......Page 847
Concepts in Action: Government Bailouts, Record Profits, and the 2009 Wall Street Compensation Dilemma......Page 848
Boundary Systems......Page 849
Problem for Self-Study......Page 850
Decision Points......Page 852
Exercises......Page 853
Problems......Page 857
Collaborative Learning Problem......Page 861
Appendix A......Page 862
B......Page 869
C......Page 870
D......Page 871
F......Page 872
J......Page 873
M......Page 874
P......Page 875
R......Page 876
S......Page 877
T......Page 878
W......Page 879
M......Page 880
F......Page 881
W......Page 882
C......Page 883
D......Page 885
G......Page 886
K......Page 887
O......Page 888
P......Page 889
S......Page 890
V......Page 891
W......Page 892