Activity-Based Costing, Reducing the Number of Drivers and Equal Accuracy
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Activity-Based Costing, Reducing the Number of Drivers and Equal Accuracy
In the Activity Based Costing system, second-stage cost drivers are known as Activity Drivers Transaction Drivers...
In the Activity Based Costing system, second-stage cost drivers are known as Activity Drivers Transaction Drivers Costing Drivers Resource Drivers 2) Which one is correct? Our book is; Management & Cost Accounting, written by Colin DRURY Management & Cost Accounting, written by Calvin DRURY Cost Accounting, written by Colin DRURY Management Accounting, written by Calvin DRURY
To use activity-based costing, it is necessary to know the a. expected use of cost drivers...
To use activity-based costing, it is necessary to know the a. expected use of cost drivers per product. b.all of these. c.bcost driver for each activity cost pool. d.expected use of cost drivers per activity.
Windsor Company uses an activity-based costing system. It has the following manufacturing activity areas, related drivers...
Windsor Company uses an activity-based costing system. It has the following manufacturing activity areas, related drivers used as allocation bases, and cost allocation rates: Cost Allocation Rate $ 40 0.4 Cost Driver Number of setups Number of parts Machine hours Direct labour hours Number of finished units Activity Machine setup Material handling Machining Assembly Inspection During the month, 100 units were produced, requiring 2 setups. Each unit consisted of 21 parts and used 1.4 direct labour hours and 1.25 machine...
Ch 17: Activity-Based Costing Saved Xie Company identified the following activities, costs, and activity drivers for...
Ch 17: Activity-Based Costing Saved Xie Company identified the following activities, costs, and activity drivers for this year. The company manufactures two types of go- karts: Deluxe and Basic. points Activity Handling materials Inspecting product Processing purchase orders Paying suppliers Insuring the factory Designing packaging Expected Costs $700,000 975,000 180,000 250,000 375,000 150,000 Expected Activity 100,000 parts 1,500 batches 700 orders 500 invoices 40,000 square feet 2 models eBook Print Assume that the following information is available for the company's...
Select the incorrect statement regarding the use of cost drivers in activity based costing systems. Multiple...
Select the incorrect statement regarding the use of cost drivers in activity based costing systems. Multiple Choice O ABC uses volume-based and activity based cost drivers. 0 Volume based drivers are most appropriate for costs that are affected by the number of units produced 0 ABC's use of multiple cost drivers will produce less accurate unit costs when a company produces many different products that require different types and levels of overhead costs. 0 An arbitrary cost driver must be...
Plantwide versus Departmental Rates, Product-Costing Accuracy: Activity-Based Costing Ramsey Company produces speakers (Model A and Model...
Plantwide versus Departmental Rates, Product-Costing Accuracy: Activity-Based Costing Ramsey Company produces speakers (Model A and Model B). Both products pass through two producing departments, Model A's production is much more labor-intensive than that of Model B. Model B is also the more popular of the two speakers. The following data has been gathered for the two products Product Data Product Data Model A Model B Units produced per year 10,000 100,000 Prime costs $150,000 $1,500,000 Direct labor hours 140,000 300,000...
Costs drivers can typically be based on output volume or activity. Using volume based drivers to...
Costs drivers can typically be based on output volume or activity. Using volume based drivers to allocate indirect cost would generally result in more indirect costs being allocated to high volume products. All of the following are volume based cost drivers, except: Group of answer choices Direct labour hours Time taken to set-up machines Units of output Machine hours Direct material quantity (kg)
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...
Activity-Based Costing Steampunk Corporation has the following predicted indirect costs and cost drivers for 2019 for...
Activity-Based Costing Steampunk Corporation has the following predicted indirect costs and cost drivers for 2019 for the given activity cost pools: Fabrication Finishing Dement Department Center Maintenance 550.000 10000 Machine hours handing 90,000 45.000 Materal moves Machine 200.000 15.000 chines Inspections M The following activity predictions were also made for the years Fabrication Finishing Department Department Machine hours Material moves Machine Setups 350 5.00 It is assumed that the cost per unit of activity for a given activity does not...
Activity-Based Costing Steampunk Corporation has the following predicted indirect costs and cost drivers for 2019 for...
Activity-Based Costing Steampunk Corporation has the following predicted indirect costs and cost drivers for 2019 for the given activity cost pools: Fabrication Department Finishing Department Cost Driver Maintenance $ 54,000 27,000 Machine hours Materials handling 81,000 40,500 Material moves Machine 189,000 13,500 Machine setups Inspections - 67,500 Inspection hours Total $ 324,000 $ 148,500 The following activity predictions were also made for the year: Fabrication Department Finishing Department Machine hours 5,000 2,500 Material moves 1,500 750 Machine setups 350 25...
Windsor Company uses an activity-based costing system. It has the following manufacturing activity areas, related drivers used as allocation bases, and cost allocation rates: Cost Allocation Rate $ 40 0.4 Cost Driver Number of setups Number of parts Machine hours Direct labour hours Number of finished units Activity Machine setup Material handling Machining Assembly Inspection During the month, 100 units were produced, requiring 2 setups. Each unit consisted of 21 parts and used 1.4 direct labour hours and 1.25 machine...
Ch 17: Activity-Based Costing Saved Xie Company identified the following activities, costs, and activity drivers for this year. The company manufactures two types of go- karts: Deluxe and Basic. points Activity Handling materials Inspecting product Processing purchase orders Paying suppliers Insuring the factory Designing packaging Expected Costs $700,000 975,000 180,000 250,000 375,000 150,000 Expected Activity 100,000 parts 1,500 batches 700 orders 500 invoices 40,000 square feet 2 models eBook Print Assume that the following information is available for the company's...
Select the incorrect statement regarding the use of cost drivers in activity based costing systems. Multiple Choice O ABC uses volume-based and activity based cost drivers. 0 Volume based drivers are most appropriate for costs that are affected by the number of units produced 0 ABC's use of multiple cost drivers will produce less accurate unit costs when a company produces many different products that require different types and levels of overhead costs. 0 An arbitrary cost driver must be...
Plantwide versus Departmental Rates, Product-Costing Accuracy: Activity-Based Costing Ramsey Company produces speakers (Model A and Model B). Both products pass through two producing departments, Model A's production is much more labor-intensive than that of Model B. Model B is also the more popular of the two speakers. The following data has been gathered for the two products Product Data Product Data Model A Model B Units produced per year 10,000 100,000 Prime costs $150,000 $1,500,000 Direct labor hours 140,000 300,000...
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...
Activity-Based Costing Steampunk Corporation has the following predicted indirect costs and cost drivers for 2019 for the given activity cost pools: Fabrication Finishing Dement Department Center Maintenance 550.000 10000 Machine hours handing 90,000 45.000 Materal moves Machine 200.000 15.000 chines Inspections M The following activity predictions were also made for the years Fabrication Finishing Department Department Machine hours Material moves Machine Setups 350 5.00 It is assumed that the cost per unit of activity for a given activity does not...
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