Homework Answers
| Option C is the answer | |
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Refining a cost system reduces the broad average use of assigning cost of resources to the cost objects. Option C is the closest. |
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8. Refining a cost system involves which of the following? A) classifying as many costs as...
7. Product-cost subsidiration means that A) when one product is overcasted, it results in more than...
7. Product-cost subsidiration means that A) when one product is overcasted, it results in more than one other products overcasted when company underests more than one of its products, it will overcost more than one of its other products when a company undercosts one of its products, it will overcost at least one of its other products D) when one product is overcosted it results in all other products being overcosted 8. Refining a cost system involves which of the...
Which of the following is a sign that an ABC system may be useful for an...
Which of the following is a sign that an ABC system may be useful for an organization? O A. Many indirect costs are described as batch-level costs, product - sustaining costs, or facility - sustaining costs OB. Operations staff disagrees with accountants about the costs of manufacturing and marketing products and services. O c. Significant amounts of indirect costs are allocated using multiple cost pools. OD. Products make similar demands on resources because of similarities in volume, process steps, batch...
Direct labor or machine hours may not be the appropriate cost driver for overhead in all...
Direct labor or machine hours may not be the appropriate cost
driver for overhead in all areas of manufacturing due to the
complexities of many manufacturing processes. Many companies use
activity-based costing (ABC) which uses multiple drivers (items
that consume resources) rather than just one driver to apply
overhead to their activities. With ABC, a company can use a cost
driver that has a direct cause/effect relationship in its applied
overhead costs.
Waterways looked into ABC as a method of...
Direct labor or machine hours may not be the appropriate cost driver for overhead in all...
Direct labor or machine hours may not be the appropriate cost driver for overhead in all areas of manufacturing due to the complexities of many manufacturing processes. Many companies use activity-based costing (ABC) which uses multiple drivers (items that consume resources) rather than just one driver to apply overhead to their activities. With ABC, a company can use a cost driver that has a direct cause/effect relationship in its applied overhead costs. Waterways looked into ABC as a method of...
with unit-level activities r possible 10) Managing and sustaining product diversit, reers than managing product diversity requires many more overhead resources such as Thschuls and product design...
with unit-level activities r possible 10) Managing and sustaining product diversit, reers than managing product diversity requires many more overhead resources such as Thschuls and product design engineers than managing and sustaining activi -based costing than traditional costing which is based entirely on direct labor-hours. s using activity 11) A traditiona system I cost system is generally easier to set up and run than an activity-based costing 12) Departmental overhead rates will correctly assign overhead costs in situations company has...
3. Which of the following is NOT considered an overview aspect of risk management? 2. Know...
3. Which of the following is NOT considered an overview aspect of risk management? 2. Know yourself identify, examine, and understand the information and systems currently in place b. Know the enemy identify examine, and understand threats facing the organization c. Responsibility of each community of interest within an organization to manage risks that are encountered d. All of the above are considered to be an overview aspect of risk management 4. Communities of interest are responsible for which of...
Hello, thanks for helping compare. 3) Which of the following is NOT a characterization of activity-based...
Hello, thanks for helping compare. 3) Which of the following is NOT a characterization of activity-based costing? Select one: A. identifying all resources used by activities regardless of how individual costs behave in the short run B. identification of only variable costs C. using the cost hierarchy to allocate costs to products D. identification of all costs used by activities 4) Indications that a product cost system needs revision include Select one: A. the company uses a single allocation base...
Direct labor or machine hours may not be the appropriate cost driver for overhead in all...
Direct labor or machine hours may not be the appropriate cost driver for overhead in all areas of manufacturing due to the complexities of many manufacturing processes. Many companies use activity-based costing (ABC) which uses multiple drivers (items that consume resources) rather than just one driver to apply overhead to their activities. With ABC, a company can use a cost driver that has a direct cause/effect relationship in its applied overhead costs. Waterways looked into ABC as a method of...
Radley Products has adopted an ACB costing system. The following manufacturing activities, indirect manufacturing costs, and...
Radley Products has adopted an ACB costing system. The following manufacturing activities, indirect manufacturing costs, and cost drivers have been identified Machine setup 120,000 2,000 setups Machining 1,050,000 6,000 machine hrs Polishing 80,000 10,000 polishing cloths Quality control 280,000 4,000 test runs Facility-level costs 120,000 50,000 DL hrs MOH 1,650,000 The Job Cost Record for Job #624 revealed that direct materials requisitioned for the job totaled $1,050. the Job Cost Record also showed that direct labor for this job totaled...
Gamble Products has adopted an ABC costing system. The following manufacturing activities, indirect manufacturing costs, and...
Gamble Products has adopted an ABC costing system. The following manufacturing activities, indirect manufacturing costs, and cost drivers have been identified: (Click the icon to view the activity costs and drivers.) The Job Cost Record for Job #624 revealed that direct materials requisitioned for the job totaled $1,140. The Job Cost Record also showed that direct labor for this job totaled 6 hours at a wage rate of $22 per hour. Other data collected on the resources used by Job...
7. Product-cost subsidiration means that A) when one product is overcasted, it results in more than one other products overcasted when company underests more than one of its products, it will overcost more than one of its other products when a company undercosts one of its products, it will overcost at least one of its other products D) when one product is overcosted it results in all other products being overcosted 8. Refining a cost system involves which of the...
Which of the following is a sign that an ABC system may be useful for an organization? O A. Many indirect costs are described as batch-level costs, product - sustaining costs, or facility - sustaining costs OB. Operations staff disagrees with accountants about the costs of manufacturing and marketing products and services. O c. Significant amounts of indirect costs are allocated using multiple cost pools. OD. Products make similar demands on resources because of similarities in volume, process steps, batch...
Direct labor or machine hours may not be the appropriate cost
driver for overhead in all areas of manufacturing due to the
complexities of many manufacturing processes. Many companies use
activity-based costing (ABC) which uses multiple drivers (items
that consume resources) rather than just one driver to apply
overhead to their activities. With ABC, a company can use a cost
driver that has a direct cause/effect relationship in its applied
overhead costs.
Waterways looked into ABC as a method of...
with unit-level activities r possible 10) Managing and sustaining product diversit, reers than managing product diversity requires many more overhead resources such as Thschuls and product design engineers than managing and sustaining activi -based costing than traditional costing which is based entirely on direct labor-hours. s using activity 11) A traditiona system I cost system is generally easier to set up and run than an activity-based costing 12) Departmental overhead rates will correctly assign overhead costs in situations company has...
3. Which of the following is NOT considered an overview aspect of risk management? 2. Know yourself identify, examine, and understand the information and systems currently in place b. Know the enemy identify examine, and understand threats facing the organization c. Responsibility of each community of interest within an organization to manage risks that are encountered d. All of the above are considered to be an overview aspect of risk management 4. Communities of interest are responsible for which of...
Direct labor or machine hours may not be the appropriate cost driver for overhead in all areas of manufacturing due to the complexities of many manufacturing processes. Many companies use activity-based costing (ABC) which uses multiple drivers (items that consume resources) rather than just one driver to apply overhead to their activities. With ABC, a company can use a cost driver that has a direct cause/effect relationship in its applied overhead costs. Waterways looked into ABC as a method of...
Gamble Products has adopted an ABC costing system. The following manufacturing activities, indirect manufacturing costs, and cost drivers have been identified: (Click the icon to view the activity costs and drivers.) The Job Cost Record for Job #624 revealed that direct materials requisitioned for the job totaled $1,140. The Job Cost Record also showed that direct labor for this job totaled 6 hours at a wage rate of $22 per hour. Other data collected on the resources used by Job...
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