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Question 33 2 pts The first step for implementing activity-based costing is Calculate activity rates Assign...
Activity-based costing, or ABC, is a costing method that managers can use for internal cost reporting...
Activity-based costing, or ABC, is a costing method that managers can use for internal cost reporting and decision making. While ABC isn't allowed for external financial reporting, companies may find it useful to enact an ABC system to more effectively analyze cost data. ABC systems excel at being able to assign costs to products that are manufactured and supported by many different types of activities. Question is, would this be very expensive? And, is there a lot of training involved?
QUESTION 2 The first step in activity-based costing is to assign manufacturing overhead costs for each...
QUESTION 2 The first step in activity-based costing is to assign manufacturing overhead costs for each activity cost pool to products. compute the activity-based overhead rate per cost driver. identify and classify the major activities involved in the manufacture of specific products. identify the cost driver that has a strong correlation to the activity cost pool.
(Ch4) The first step in activity-based costing is to Select one: O a. assign manufacturing overhead...
(Ch4) The first step in activity-based costing is to Select one: O a. assign manufacturing overhead costs for each activity cost pool to products. O b. identify and classify the major activities involved in the manufacture of specific products. O c. calculate the activity-based overhead rate per cost driver. O d. identify the cost driver that has a strong correlation to the activity cost pool. (Ch4) Activity-based costing Select one: O a. uses direct labor as its primary cost driver....
nts) 16. Eaton Company uses activity-based costing to allocate overhead costs to products. When figuring the...
nts) 16. Eaton Company uses activity-based costing to allocate overhead costs to products. When figuring the cost of ordering raw materials, which of the following is likely the best cost driver for this activity? a. Number of orders placed. b. Weight of the parts ordered. c. Square footage of the purchasing department area. d. Direct labor cost e. None of the answer choices is correct. e comfc future for safet materia local h e factor ta rela 17. Which of...
QUESTION 13 Activity-based costing systems conform to Generally Accepted Accounting Principles and can therefore be used...
QUESTION 13 Activity-based costing systems conform to Generally Accepted Accounting Principles and can therefore be used for both internal and external reporting. O True O False QUESTION 14 Hane Corporation uses the following activity rates from its activity-based costing to assign overhead costs to products: Activity Cost Pools Activity Rate Assembling products.... Processing customer orders... Setting up batches... $8.90 $31.23 $43.72 per assembly hour per customer order per batch Data for one of the company's products follow: Product U94W Number...
Betterton Corporation uses an activity based costing system to assign overhead costs to products. In the...
Betterton Corporation uses an activity based costing system to assign overhead costs to products. In the first stage, two overhead costs—equipment depreciation and supervisory expense-are allocated to three activity cost pools—Machining, Order Filling, and Other—based on resource consumption. Data to perform these allocations appear below: Overhead costs: Equipment depreciation $ 60,250 Supervisory expense $ 5,400 Distribution of Resource Consumption Across Activity Cost Pools: Activity Cost Pools Machining Order Filling Other Equipment depreciation 0.50 0.30 0.20 Supervisory expense 0.10 0.40 0.50...
please answer the following questions. 5. Answer True or False for the following: Activity Based Costing...
please answer the following questions.
5. Answer True or False for the following: Activity Based Costing is NOT a more accurate allocation of manufacturing overhead than Traditional Costing. Cost drivers are activities that drive the cost to be accumulated. Traditional systems use a plant wide manufacturing allocation rate. The third step to ABC costing is to identify each activity and estimate its total indirect cost. Value Engineering includes the financial team only of a company. When calculating cost based pricing...
Doles Corporation uses the following activity rates from his activity based costing him to assign overhead...
Doles Corporation uses the following activity rates from his
activity based costing him to assign overhead costs to products.
How much overhead cost would be assigned to each of the two
products using the Cost-activity based costing systems?
Doles Corporation uses the following activity rates from its activity-based costing to assign overhead costs to products. Activity Rate Activity Cost Pools Setting up batches Processing customer orders Assembling products $72.02 per batch $29.08 per customer $13.51 per assembly hour order Data...
The last step in activity-based costing is to identify the cost driver that has a strong...
The last step in activity-based costing is to
identify the cost driver that has a strong correlation to the
activity cost pool.
assign overhead costs to products, using overhead rates
determined for each cost pool.
identify and classify the activities involved in the
manufacture of specific products, and allocate overhead to cost
pools.
compute the activity-based overhead rate per cost driver.
Lysiak Corporation uses an activity based costing system to assign overhead costs to products. In the...
Lysiak Corporation uses an activity based costing system to assign overhead costs to products. In the first stage, two overhead costs equipment depreciation and supervisory expense are allocated to three activity cast pools Machining Order Filling, and Other based on resource consumption Data to perform these allocations appear below: Overhead costs: Equipment depreciation Supervisory expense $47,000 $ 6,000 Distribution of Resource Consumption Across Activity Cost Pools: Activity Cost Pools Machining Order Filling 0.60 0.10 0.60 0.20 Equipment depreciation Supervisory expense...
QUESTION 2 The first step in activity-based costing is to assign manufacturing overhead costs for each activity cost pool to products. compute the activity-based overhead rate per cost driver. identify and classify the major activities involved in the manufacture of specific products. identify the cost driver that has a strong correlation to the activity cost pool.
(Ch4) The first step in activity-based costing is to Select one: O a. assign manufacturing overhead costs for each activity cost pool to products. O b. identify and classify the major activities involved in the manufacture of specific products. O c. calculate the activity-based overhead rate per cost driver. O d. identify the cost driver that has a strong correlation to the activity cost pool. (Ch4) Activity-based costing Select one: O a. uses direct labor as its primary cost driver....
nts) 16. Eaton Company uses activity-based costing to allocate overhead costs to products. When figuring the cost of ordering raw materials, which of the following is likely the best cost driver for this activity? a. Number of orders placed. b. Weight of the parts ordered. c. Square footage of the purchasing department area. d. Direct labor cost e. None of the answer choices is correct. e comfc future for safet materia local h e factor ta rela 17. Which of...
QUESTION 13 Activity-based costing systems conform to Generally Accepted Accounting Principles and can therefore be used for both internal and external reporting. O True O False QUESTION 14 Hane Corporation uses the following activity rates from its activity-based costing to assign overhead costs to products: Activity Cost Pools Activity Rate Assembling products.... Processing customer orders... Setting up batches... $8.90 $31.23 $43.72 per assembly hour per customer order per batch Data for one of the company's products follow: Product U94W Number...
please answer the following questions.
5. Answer True or False for the following: Activity Based Costing is NOT a more accurate allocation of manufacturing overhead than Traditional Costing. Cost drivers are activities that drive the cost to be accumulated. Traditional systems use a plant wide manufacturing allocation rate. The third step to ABC costing is to identify each activity and estimate its total indirect cost. Value Engineering includes the financial team only of a company. When calculating cost based pricing...
Doles Corporation uses the following activity rates from his
activity based costing him to assign overhead costs to products.
How much overhead cost would be assigned to each of the two
products using the Cost-activity based costing systems?
Doles Corporation uses the following activity rates from its activity-based costing to assign overhead costs to products. Activity Rate Activity Cost Pools Setting up batches Processing customer orders Assembling products $72.02 per batch $29.08 per customer $13.51 per assembly hour order Data...
The last step in activity-based costing is to
identify the cost driver that has a strong correlation to the
activity cost pool.
assign overhead costs to products, using overhead rates
determined for each cost pool.
identify and classify the activities involved in the
manufacture of specific products, and allocate overhead to cost
pools.
compute the activity-based overhead rate per cost driver.
Lysiak Corporation uses an activity based costing system to assign overhead costs to products. In the first stage, two overhead costs equipment depreciation and supervisory expense are allocated to three activity cast pools Machining Order Filling, and Other based on resource consumption Data to perform these allocations appear below: Overhead costs: Equipment depreciation Supervisory expense $47,000 $ 6,000 Distribution of Resource Consumption Across Activity Cost Pools: Activity Cost Pools Machining Order Filling 0.60 0.10 0.60 0.20 Equipment depreciation Supervisory expense...
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