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Correctly order the five steps for implementing activity-based costing. ✓ Choose...
Question 33 2 pts The first step for implementing activity-based costing is Calculate activity rates Assign...
Question 33 2 pts The first step for implementing activity-based costing is Calculate activity rates Assign overhead costs to activity cost pools Define activities, activity cost pools, and activity measures Assign overhead costs to cost objects Question 34 2 pts The differences between ABC and Traditional Product Costs include the following except: Traditional cost systems create a more favorable net operating income (loss) Traditional cost systems allocate manufacturing overhead costs using a volume-related allocation base Traditional cost systems allocate all...
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.
7. Prohoff Company uses activity-based costing to compute product costs for external reports. The company has...
7. Prohoff Company uses activity-based costing to compute product costs for external reports. The company has three activity cost pools and applies overhead using predetermined overhead rates for each activity cost pool. Estimated costs and activities for the current year are presented below for the three activity cost pools: Activity A Activity B Activity C Estimated Overhead Cost $117,312 $120,096 $260,648 Expected Activity 2,400 4,800 4,400 Actual costs and activities for the current year were as follows: Actual Overhead Cost...
QS 17-8 Computing activity rates LO P3 A manufacturer uses activity-based costing to assign overhead costs...
QS 17-8 Computing activity rates LO P3 A manufacturer uses activity-based costing to assign overhead costs to products. Budgeted cost information for selected activities for next year follows. Activity Purchasing cleaning factory Providing utilities Expected Cost $93,600 29,000 53, 720 Cost Driver Purchase orders Square feet Square feet Expected Usage of Cost Driver 3,900 purchase orders 4,400 square feet 4,400 square feet Compute activity rates for each of the cost pools. (Round your answers to 2 decimal places.) Activity cost...
1.Abbe Company uses activity-based costing. The company has two products: A and B. The annual production...
1.Abbe Company uses activity-based costing. The company has two products: A and B. The annual production and sales of Product A is 1,600 units and of Product B is 950 units. There are three activity cost pools, with estimated costs and expected activity as follows: Activity Cost Pools Estimated Overhead Cost Expected Activity Product A Product B Total Activity 1 $ 38,241 1,100 1,000 2,100 Activity 2 $ 58,551 2,100 800 2,900 Activity 3 $ 72,702 640 620 1,260 The...
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...
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...
Saved A manufacturer uses activity-based costing to assign overhead costs to products. Budgeted cost information for...
Saved A manufacturer uses activity-based costing to assign overhead costs to products. Budgeted cost information for selected activities for next year follows. Activity Purchasing Cleaning factory Providing utilities Expected Cost $120,400 31,000 61,160 Cost Driver Purchase orders Square feet Square feet Expected Usage of Cost Driver 4,300 purchase orders 4,800 square feet 4,800 square feet Compute activity rates for each of the cost pools. (Round your answers to 2 decimal places.) Activity cost pool Expected Costs Activity Overhead Rate Expected...
Which of the following is not one of the steps for applying activity-based costing in a...
Which of the following is not one of the steps for applying activity-based costing in a service business? a.Allocate overhead costs to customers based upon activity-base usage. b.Pay the vendor for raw materials. c.Identify activities. d.Determine activity rates for each activity.
Problem 3 .Austin Corporation uses activity-based costing to determine product costs for external financial reports. The...
Problem 3 .Austin Corporation uses activity-based costing to determine product costs for external financial reports. The company has provided the following data concerning its activity-based costing system: Estimated Overhead Cost $67,500 $273,700 $204,000 Activity Cost Pools (and Activity Measures) Machine related (machine-hours) Batch setup (setups) General factory (direct labor-hours) Activity Cost Pools Machine related Batch setup General factory Total 5,000 7,000 8,000 Prepare a schedule to compute OH applied.
Question 33 2 pts The first step for implementing activity-based costing is Calculate activity rates Assign overhead costs to activity cost pools Define activities, activity cost pools, and activity measures Assign overhead costs to cost objects Question 34 2 pts The differences between ABC and Traditional Product Costs include the following except: Traditional cost systems create a more favorable net operating income (loss) Traditional cost systems allocate manufacturing overhead costs using a volume-related allocation base Traditional cost systems allocate all...
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.
7. Prohoff Company uses activity-based costing to compute product costs for external reports. The company has three activity cost pools and applies overhead using predetermined overhead rates for each activity cost pool. Estimated costs and activities for the current year are presented below for the three activity cost pools: Activity A Activity B Activity C Estimated Overhead Cost $117,312 $120,096 $260,648 Expected Activity 2,400 4,800 4,400 Actual costs and activities for the current year were as follows: Actual Overhead Cost...
QS 17-8 Computing activity rates LO P3 A manufacturer uses activity-based costing to assign overhead costs to products. Budgeted cost information for selected activities for next year follows. Activity Purchasing cleaning factory Providing utilities Expected Cost $93,600 29,000 53, 720 Cost Driver Purchase orders Square feet Square feet Expected Usage of Cost Driver 3,900 purchase orders 4,400 square feet 4,400 square feet Compute activity rates for each of the cost pools. (Round your answers to 2 decimal places.) Activity cost...
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...
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...
Saved A manufacturer uses activity-based costing to assign overhead costs to products. Budgeted cost information for selected activities for next year follows. Activity Purchasing Cleaning factory Providing utilities Expected Cost $120,400 31,000 61,160 Cost Driver Purchase orders Square feet Square feet Expected Usage of Cost Driver 4,300 purchase orders 4,800 square feet 4,800 square feet Compute activity rates for each of the cost pools. (Round your answers to 2 decimal places.) Activity cost pool Expected Costs Activity Overhead Rate Expected...
Problem 3 .Austin Corporation uses activity-based costing to determine product costs for external financial reports. The company has provided the following data concerning its activity-based costing system: Estimated Overhead Cost $67,500 $273,700 $204,000 Activity Cost Pools (and Activity Measures) Machine related (machine-hours) Batch setup (setups) General factory (direct labor-hours) Activity Cost Pools Machine related Batch setup General factory Total 5,000 7,000 8,000 Prepare a schedule to compute OH applied.
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