Homework Answers
to identify and classify the activities involved in the
manufacture of specific products - correct option
The first step in activity-based
costing is to identify and classify the activities involved in the
manufacture of specific products and allocate overhead to cost
pools.
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QUESTION 2 The first step in activity-based costing is to assign manufacturing overhead costs for each...
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.
(Ch4) The first step in activity-based costing is to Select one: O a. assign manufacturing overhead...
(Ch4) The first step in activity-based costing is to Select one: O a. assign manufacturing overhead costs for each activity cost pool to products. O b. identify and classify the major activities involved in the manufacture of specific products. O c. calculate the activity-based overhead rate per cost driver. O d. identify the cost driver that has a strong correlation to the activity cost pool. (Ch4) Activity-based costing Select one: O a. uses direct labor as its primary cost driver....
QUESTION 19 Tidwell Industries has the following overhead costs and cost drivers. Direct labor hours are...
QUESTION 19 Tidwell Industries has the following overhead costs and cost drivers. Direct labor hours are estimated at 100,000 for the year Activity Cost Cost Driver Pool Ordering and Orders Receiving Machine Setup Setups Machining Assembly Inspection Cost Driver Activity Est. Overhead $120,000 500 orders 450 setups 1,500,000 125,000 MH 1,200,000 1,000,000 parts 500 inspections 297,000 Machine hours Parts |Inspections 300,000 If overhead is applied using activity-based costing, the overhead application rate for ordering and receiving is $1.20 per direct...
Which of the following is not a step involved in activity-based costing? Multiple Choice Identify the...
Which of the following is not a step involved in activity-based costing? Multiple Choice Identify the activities that consume resources and assign costs to those activities. Assign costs to products by multiplying the cost driver rate by the volume of cost driver units consumed by the product. Compute a cost rate per cost driver unit or transaction. Determine how to reduce the costs of making products by cutting activities.
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...
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...
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...
Check my work A manufacturer uses activity-based costing to assign overhead costs to products. Budgeted cost...
Check my work 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 CostCost Driver $113,400 P urchase orders 30,500 Square feet 59,270 Square feet Expected Usage of Cost Driver 4,200 purchase orders 4,700 square feet 4,700 square feet Compute activity rates for each of the cost pools. (Round your answers to 2 decimal places.) Activity cost pool Expected Costs Expected Amount...
Wedd Corporation uses activity-based costing to assign overhead costs to products. Overhead costs have already been all...
Wedd Corporation uses activity-based costing to assign overhead costs to products. Overhead costs have already been allocated to the company's three activity cost pools as follows: Processing, $51,700, Supervising, $34,500; and Other, $22.400. Processing costs are assigned to products using machine-hours (MHs) and Supervising costs are assigned to products using the number of batches. The costs in the Other activity cost pool are not assigned to products. Activity data appear below: Product 06 Product D7 Total MHs (Processing) 14,800 1,130...
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...
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.
(Ch4) The first step in activity-based costing is to Select one: O a. assign manufacturing overhead costs for each activity cost pool to products. O b. identify and classify the major activities involved in the manufacture of specific products. O c. calculate the activity-based overhead rate per cost driver. O d. identify the cost driver that has a strong correlation to the activity cost pool. (Ch4) Activity-based costing Select one: O a. uses direct labor as its primary cost driver....
QUESTION 19 Tidwell Industries has the following overhead costs and cost drivers. Direct labor hours are estimated at 100,000 for the year Activity Cost Cost Driver Pool Ordering and Orders Receiving Machine Setup Setups Machining Assembly Inspection Cost Driver Activity Est. Overhead $120,000 500 orders 450 setups 1,500,000 125,000 MH 1,200,000 1,000,000 parts 500 inspections 297,000 Machine hours Parts |Inspections 300,000 If overhead is applied using activity-based costing, the overhead application rate for ordering and receiving is $1.20 per direct...
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...
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...
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...
Check my work 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 CostCost Driver $113,400 P urchase orders 30,500 Square feet 59,270 Square feet Expected Usage of Cost Driver 4,200 purchase orders 4,700 square feet 4,700 square feet Compute activity rates for each of the cost pools. (Round your answers to 2 decimal places.) Activity cost pool Expected Costs Expected Amount...
Wedd Corporation uses activity-based costing to assign overhead costs to products. Overhead costs have already been allocated to the company's three activity cost pools as follows: Processing, $51,700, Supervising, $34,500; and Other, $22.400. Processing costs are assigned to products using machine-hours (MHs) and Supervising costs are assigned to products using the number of batches. The costs in the Other activity cost pool are not assigned to products. Activity data appear below: Product 06 Product D7 Total MHs (Processing) 14,800 1,130...
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...
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