ABC results in the exact cost per units, which job costing POHR cannot. Question 3 options:...
ABC results in the exact cost per units, which job costing POHR cannot.
Question 3 options:
| True | |
| False |
Homework Answers
|
True Predetermined overhead rate allocates overhead costs based on a single overhead rate. Whereas Activity based costing divides costs into pools and allocates based on the activity rates. |
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Add Answer to:
ABC results in the exact cost per units, which job costing POHR
cannot.
Question 3 options:...
QUESTION 32 The cost of a completed job in a job-order costing system typically consists of...
QUESTION 32 The cost of a completed job in a job-order costing system typically consists of the actual direct materials cost of the job, the actual direct labor cost of the job, and the manufacturing overhead cost applied to the job. True 2.157 points False QUESTION 33 An activity in activity-based costing is an event that causes the consumption of overhead resources. True 2.857 False QUESTION 34 If a company has a great deal of product diversity, activity-based costing will...
Your answer 43) In ABC Costing, there is no difference between Actual and Applied overheads True...
Your answer 43) In ABC Costing, there is no difference between Actual and Applied overheads True OO False 30) Managers prefer absorption costing. True False 8) Indirect cost is one that cannot easily traced to a cost object True False 44) In Job Order costing, we track costs by department True II o
Gamble Products has adopted an ABC costing system. The following manufacturing The Job Cost Record for...
Gamble Products has adopted an ABC costing system. The following manufacturing The Job Cost Record for Job #624 revealed that direct materials requisitioned f activities, indirect manufacturing costs, and cost drivers have been identified: the job totaled $1,100. The Job Cost Record also showed that direct labor for th (Click the icon to view the activity costs and drivers.) job totaled 12 hours at a wage rate of $29 per hour. Other data collected on the resources used by Job...
What was the cost per unit of each model using ABC costing Round cost per unit...
What was the cost per unit of each model using ABC costing Round
cost per unit to 2 decimal places
Cost per unit Royal: Majestic:
Schultz Electronics manufactures two ultra high-definition television models: the Royale which sells for $1,530, and a new model, the Majestic, which sells for $1,270. The production cost computed per unit under traditional costing for each model in 2017 was as follows. Traditional Costing Royale Majestic Direct materials $640 $400 Direct labor ($20 per hour) 120...
2- Question la) Divine Products uses a job-costing system for its units, which pass from the...
2- Question la) Divine Products uses a job-costing system for its units, which pass from the Machining Assembly Department, to finished-goods inventory. The Department is heavily automated; in contrast, the Assembly Department performs a number of manual-assembly activities. The company uses machine hours to apply manufacturing overhead to products in the Machining Department, and direct labour cost to apply manufacturing overhead to products in the Assembly Department. The following information relates to the Machining Department for the year just ended:...
1. The perpetual inventory method cannot be used in a job order cost system. True False...
1.
The perpetual inventory method cannot be used in a job order
cost system.
True
False
2. A job order cost system and a process cost system are two
alternative methods for valuing inventories.
True
False
3. Accumulating and assigning manufacturing costs are two
important activities in a job order cost system.
True
False
4. When raw materials are purchased, the Work in Process
Inventory account is debited.
True
False
5. Job order cost sheets constitute the subsidiary ledger of...
Which statement is generally true of activity-based costing? ABC uses mainly unit-level cost drivers. ABC pools...
Which statement is generally true of activity-based costing? ABC uses mainly unit-level cost drivers. ABC pools costs by department. ABC allocates less service costs to product than traditional methods. All of the above are true. None of the above are true.
Question 2: Job Costing vs. ABC Costing Suggested time: 45 minutes Answer following questions based on...
Question 2: Job Costing vs. ABC Costing Suggested time: 45 minutes Answer following questions based on the scenario of Zany Brainy: Zany Brainy Corp. manufactures two types of lamps, Home size and Industry size lamps. Company produces 10,000 Home size lamps and 2,000 Industry size lamps. Following is the data provided about these two products: Home size lamp Industry size lamp Total Direct materials per unit $10 $15 Direct manufacturing labour rate per unit $16.00 $16.00 Direct labour hours per...
Question 2: Job Costing vs. ABC Costing Suggested time: 45 minutes Answer following questions based on...
Question 2: Job Costing vs. ABC Costing Suggested time: 45 minutes Answer following questions based on the scenario of Zany Brainy: Zany Brainy Corp. manufactures two types of lamps, Home size and Industry size lamps. Company produces 10,000 Home size lamps and 2,000 Industry size lamps. Following is the data provided about these two products: Home size lamp Industry size lamp Total Direct materials per unit $10 $15 Direct manufacturing labour rate per unit $16.00 $16.00 Direct labour hours per...
help only 1 answer Question 2: Job Costing vs. ABC Costing Suggested time: 45 minutes Answer...
help only 1 answer
Question 2: Job Costing vs. ABC Costing Suggested time: 45 minutes Answer following questions based on the scenario of Zany Brainy: Zany Brainy Corp. manufactures two types of lamps, Home size and Industry size lamps. Company produces 10,000 Home size lamps and 2,000 Industry size lamps. Following is the data provided about these two products: Total Homesize Industry size lamp lamp S10 $15 $16.00 $16.00 0.50 0.7 $110,000 Direct materials per unit Direct manufacturing labour rate...
QUESTION 32 The cost of a completed job in a job-order costing system typically consists of the actual direct materials cost of the job, the actual direct labor cost of the job, and the manufacturing overhead cost applied to the job. True 2.157 points False QUESTION 33 An activity in activity-based costing is an event that causes the consumption of overhead resources. True 2.857 False QUESTION 34 If a company has a great deal of product diversity, activity-based costing will...
Your answer 43) In ABC Costing, there is no difference between Actual and Applied overheads True OO False 30) Managers prefer absorption costing. True False 8) Indirect cost is one that cannot easily traced to a cost object True False 44) In Job Order costing, we track costs by department True II o
Gamble Products has adopted an ABC costing system. The following manufacturing The Job Cost Record for Job #624 revealed that direct materials requisitioned f activities, indirect manufacturing costs, and cost drivers have been identified: the job totaled $1,100. The Job Cost Record also showed that direct labor for th (Click the icon to view the activity costs and drivers.) job totaled 12 hours at a wage rate of $29 per hour. Other data collected on the resources used by Job...
What was the cost per unit of each model using ABC costing Round
cost per unit to 2 decimal places
Cost per unit Royal: Majestic:
Schultz Electronics manufactures two ultra high-definition television models: the Royale which sells for $1,530, and a new model, the Majestic, which sells for $1,270. The production cost computed per unit under traditional costing for each model in 2017 was as follows. Traditional Costing Royale Majestic Direct materials $640 $400 Direct labor ($20 per hour) 120...
2- Question la) Divine Products uses a job-costing system for its units, which pass from the Machining Assembly Department, to finished-goods inventory. The Department is heavily automated; in contrast, the Assembly Department performs a number of manual-assembly activities. The company uses machine hours to apply manufacturing overhead to products in the Machining Department, and direct labour cost to apply manufacturing overhead to products in the Assembly Department. The following information relates to the Machining Department for the year just ended:...
1.
The perpetual inventory method cannot be used in a job order
cost system.
True
False
2. A job order cost system and a process cost system are two
alternative methods for valuing inventories.
True
False
3. Accumulating and assigning manufacturing costs are two
important activities in a job order cost system.
True
False
4. When raw materials are purchased, the Work in Process
Inventory account is debited.
True
False
5. Job order cost sheets constitute the subsidiary ledger of...
help only 1 answer
Question 2: Job Costing vs. ABC Costing Suggested time: 45 minutes Answer following questions based on the scenario of Zany Brainy: Zany Brainy Corp. manufactures two types of lamps, Home size and Industry size lamps. Company produces 10,000 Home size lamps and 2,000 Industry size lamps. Following is the data provided about these two products: Total Homesize Industry size lamp lamp S10 $15 $16.00 $16.00 0.50 0.7 $110,000 Direct materials per unit Direct manufacturing labour rate...
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