Homework Answers
Answer
- Correct Answer = Option ‘B’ Overhead costs are traced to activities then costs are traced to products.
- Activity based costing involve following procedure:
>Overheads are traced to various activities
>Activity rates are calculated using activity driver
>The traced overhead cost are then traced to products using the activity rates.
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19) An activity based costing system uses which of the following procedures? a) Overhead costs are...
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...
Which of the following is true of a unit-based costing system? a. It estimates the time...
Which of the following is true of a unit-based costing system? a. It estimates the time to perform one unit of activity. b. It assigns only manufacturing costs to products. c. It measures the demands that cost objects place on support activities. d. It offers greater product costing accuracy than an activity-based costing system. If unit-based product costing is used, which of the following would be traced directly to the product? a. inspection costs b. maintenance of machinery c. setup...
When activity-based costing is used to apply overhead to products, support department costs are referred to...
When activity-based costing is used to apply overhead to products, support department costs are referred to as a.department activity costs b.support activity costs c.activity-based department costs d.multiple activity costs In the process of applying overhead using multiple production department rates, overhead costs are directly traced to support and production departments and are then allocated to production departments based on the amount of support activity used by each department. True False The physical units method and the weighted average method are...
9. Which of the following statements is true? a. Activity-based costing uses a number of activity...
9. Which of the following statements is true? a. Activity-based costing uses a number of activity cost pools, each of which is allocated to products on the basis of direct labor-hours. b. Activity rates in activity-based costing are computed by dividing costs from the first stage allocations by the activity measure for each activity cost pool. C. An activity-based costing system is generally easier to implement and maintain than traditional costing system. d. One of the goals of activity-based costing...
18) Gould Corporation uses the following activity rates from its activity-based costing to assign overhead costs t...
18) Gould Corporation uses the following activity rates from its activity-based costing to assign overhead costs to products: 18) Activity Cost Pool Setting up batches Processing customer orders Assembling products Activity Rate 59.96 per batch $ S 73.20 per customer order S 4.65 per assembly hour Data concerning two products appear below: Product Product K91B F650 Number of batches Number of customer orders 97 68 47 61 Number of assembly hours 501 908 How much overhead cost would be assigned...
Desjarlais Corporation uses the following activity rates from its activity-based costing to assign overhead costs to...
Desjarlais Corporation uses the following activity rates from its activity-based costing to assign overhead costs to products. Activity Cost Pools Setting up batches Assembling products Processing customer orders Activity Rate $88.50 per batch $ 7.13 per assembly hour $54.66 per customer order Data concerning two products appear below: Product 006F Number of batches Number of assembly hours Number of customer orders Product S960 35 106 18 Required: a. How much overhead cost would be assigned to Product S96U using the...
Which of the following is a key feature of activity based costing? A. Overhead costs are...
Which of the following is a key feature of activity based costing? A. Overhead costs are assigned on the basis of volume B. Overhead costs are assigned on the basis of sales C. Overhead costs are assigned on the basis of direct labor hours D. Overhead costs are assigned on the basis of activities
Ekmark Corporation uses the following activity rates from its activity-based costing to assign overhead costs to...
Ekmark Corporation uses the following activity rates from its activity-based costing to assign overhead costs to products: Assembling products.................. $6.56 per assembling hour Processing customer orders......... $65.38 per customer order Setting up batches...................... $82.84 per batch Data for one of the company's products follow: Product P59G Number of Assembly Hours.............240 Number of Customer Orders...........48 Number of Batches.......................64 How much overhead cost would be allocated to Product P59G in the 2nd stage using activity based costing system? a. $54,482.56 b. $5,301.76...
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...
Bera Corporation uses the following activity rates from its activity-based costing to assign overhead costs to...
Bera Corporation uses the following activity rates from its activity-based costing to assign overhead costs to products: Activity Cost Pools Assembling products Processing customer orders Setting up batches Activity Rate $ 4.16 per assembly hour $49.53 per customer order $77.53 per batch Data for one of the company's products follow: Number of assembly hours' Number of customer orders Number of batches Product Q79P 265 55 81 How much overhead cost would be assigned to Product 079P using the activity-based costing...
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...
Which of the following is true of a unit-based costing system? a. It estimates the time to perform one unit of activity. b. It assigns only manufacturing costs to products. c. It measures the demands that cost objects place on support activities. d. It offers greater product costing accuracy than an activity-based costing system. If unit-based product costing is used, which of the following would be traced directly to the product? a. inspection costs b. maintenance of machinery c. setup...
9. Which of the following statements is true? a. Activity-based costing uses a number of activity cost pools, each of which is allocated to products on the basis of direct labor-hours. b. Activity rates in activity-based costing are computed by dividing costs from the first stage allocations by the activity measure for each activity cost pool. C. An activity-based costing system is generally easier to implement and maintain than traditional costing system. d. One of the goals of activity-based costing...
18) Gould Corporation uses the following activity rates from its activity-based costing to assign overhead costs to products: 18) Activity Cost Pool Setting up batches Processing customer orders Assembling products Activity Rate 59.96 per batch $ S 73.20 per customer order S 4.65 per assembly hour Data concerning two products appear below: Product Product K91B F650 Number of batches Number of customer orders 97 68 47 61 Number of assembly hours 501 908 How much overhead cost would be assigned...
Desjarlais Corporation uses the following activity rates from its activity-based costing to assign overhead costs to products. Activity Cost Pools Setting up batches Assembling products Processing customer orders Activity Rate $88.50 per batch $ 7.13 per assembly hour $54.66 per customer order Data concerning two products appear below: Product 006F Number of batches Number of assembly hours Number of customer orders Product S960 35 106 18 Required: a. How much overhead cost would be assigned to Product S96U using 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...
Bera Corporation uses the following activity rates from its activity-based costing to assign overhead costs to products: Activity Cost Pools Assembling products Processing customer orders Setting up batches Activity Rate $ 4.16 per assembly hour $49.53 per customer order $77.53 per batch Data for one of the company's products follow: Number of assembly hours' Number of customer orders Number of batches Product Q79P 265 55 81 How much overhead cost would be assigned to Product 079P using the activity-based costing...
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