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Which of the following statements is correct about the differences between a volume-based cost system and...
Which of the following statements is true of activity-based costing?
Which of the following statements is true of activity-based costing?Multiple ChoiceABC ignores the allocation of marketing costs.ABC classifies some indirect costs as direct costs. products.ABC is more likely to result in big differences from a traditional costing system if the business makes only one product rather than multiple products.Activities are the cost objects of the second stage of ABC.Production costs per tennis racket total $ 38, which consists of $ 25 in variable production costs and $ 13 in fixed...
Difference between activity-based cost and activity cost management. Can you say that the activity-based cost system...
Difference between activity-based cost and activity cost management. Can you say that the activity-based cost system is a mechanism that refines cost systems? It argues in terms of the advantages of using the activity-based cost system (ABC costing) in terms of the allocation of indirect costs to the products or services and the difference between the activity-based cost (activity based costing) and activity cost management (activity based management).
Which of the following statements about activity based costing is not correct? Select one: 0.a. A...
Which of the following statements about activity based costing is not correct? Select one: 0.a. A disadvantage of activity based costing is the cost needed to implement the system O b. Activity based costing is good to use when products differ in age. 0. C. Activity based costing is efficient to implement when there is not a large difference in volumes of each product produced. d. An advantage of activity based costing is the increased accuracy in pricing.
Which of the following statements about activity based costing is not correct? Select one: a. A...
Which of the following statements about activity based costing is not correct? Select one: a. A disadvantage of activity based costing is the cost needed to implement the system b. Activity based costing is good to use when products differ in age. c. Activity based costing is efficient to implement when there is not a large difference in volumes of each product produced. d. An advantage of activity based costing is the increased accuracy in pricing.
Which of the following statements is true? Volume-based costing has typically resulted in lower gross margins for high...
Which of the following statements is true? Volume-based costing has typically resulted in lower gross margins for high-volume products and higher gross margins for low-volume products. Different cost allocation methods are constructed so that they typically result in the same or similar estimates of how much it costs to make a product. Activity-based costing typically provides less information about product costs while requiring more recordkeeping. Activity-based costs per unit are always greater than volume-based costs per unit.
Harwell, Inc. produces two different products, Product A and Product B. Harwell uses a traditional volume-based...
Harwell, Inc. produces two different products, Product A and Product B. Harwell uses a traditional volume-based costing system in which direct labor hours are the allocation base. Harwell is considering switching to an ABC system by splitting its manufacturing overhead cost of $850,000 across three activities: Setup, Production, and Finishing. Under the traditional volume-based costing system, the predetermined overhead rate is $8.50/direct labor hour. Under the ABC system, the rate for each activity and usage of the activity drivers are...
Carter, Inc. produces two different products, Product A and Product B. Carter uses a traditional volume-based...
Carter, Inc. produces two different products, Product A and Product B. Carter uses a traditional volume-based costing system in which direct labor hours are the allocation base. Carter is considering switching to an ABC system by splitting its manufacturing overhead cost of $783,000 across three activities: Design, Production, and Inspection. Under the traditional volume-based costing system, the predetermined overhead rate is $2.61/direct labor hour. Under the ABC system, the rate for each activity and usage of the activity drivers are...
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...
4. Which of the following sentences is FALSE (only one correct answer): O O O O...
4. Which of the following sentences is FALSE (only one correct answer): O O O O Full cost comprehends all the resources used for a determined cost object. The "traditional" allocation bases allocate the indirect costs apportioned to the use of direct resources, that means proportional to volume. Direct costs are attributable to a cost object in an objective way. The full cost of production comprehends the cost of raw materials, transformation costs ar a fair share of the period...
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...
Which of the following statements is true of activity-based costing?Multiple ChoiceABC ignores the allocation of marketing costs.ABC classifies some indirect costs as direct costs. products.ABC is more likely to result in big differences from a traditional costing system if the business makes only one product rather than multiple products.Activities are the cost objects of the second stage of ABC.Production costs per tennis racket total $ 38, which consists of $ 25 in variable production costs and $ 13 in fixed...
Which of the following statements about activity based costing is not correct? Select one: 0.a. A disadvantage of activity based costing is the cost needed to implement the system O b. Activity based costing is good to use when products differ in age. 0. C. Activity based costing is efficient to implement when there is not a large difference in volumes of each product produced. d. An advantage of activity based costing is the increased accuracy in pricing.
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...
4. Which of the following sentences is FALSE (only one correct answer): O O O O Full cost comprehends all the resources used for a determined cost object. The "traditional" allocation bases allocate the indirect costs apportioned to the use of direct resources, that means proportional to volume. Direct costs are attributable to a cost object in an objective way. The full cost of production comprehends the cost of raw materials, transformation costs ar a fair share of the period...
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...
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