Question

(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. O b. can be used only in a job-order costing system. O c. is a two-stage overhead cost allocation system that identifies activity cost pools and cost drivers. O d. is the initial phase of converting to a just-in-time operating environment. (Ch4) An activity that has a direct cause-effect relationship with the resources consumed (and that causes resources to be consumed) is a(n) Select one: O a. product activity. O b. overhead rate. O c. cost pool. O d. cost driver. (Ch4) Activity-based costing: Select one: O a. uses only a single basis of allocation. O b. focuses on activities performed to produce a product. O c. focuses on units of production. O d. can be used only in a process cost system.

Answer 1

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