________ is the system for assigning costs to unique cost objects. A.Service costing B.Process costing C.Time...
________ is the system for assigning costs to unique cost objects.
A.Service costing
B.Process costing
C.Time costing
D.Job costing
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________ is the system for assigning costs to unique cost
objects.
A.Service costing
B.Process costing
C.Time...
1) Cost Accounting: a) Is concerned with assigning costs to various cost objects. b) Attempts to...
1) Cost Accounting: a) Is concerned with assigning costs to various cost objects. b) Attempts to satisfy the costing objectives of both financial and management accounting. c) Provides cost information the supports planning, controlling and decision making. dl All of the above. Answer: _(2 points) 2) Cost management information systems further competitive advantage by supporting three fundamental organizational goals. Which of the following is NOT one of these fundamental goals? a) Improved time based performance. b) Improved quality of products...
Assigning costs to cost objects Select one: a. do all of these. b. can be a...
Assigning costs to cost objects Select one: a. do all of these. b. can be a simple or complex process. C. can be accomplished in a number of ways. d. provides information for decision making.
CHAPTER ONE 1) Cost Accounting: a) Is concerned with assigning costs to various cost objects. b)...
CHAPTER ONE 1) Cost Accounting: a) Is concerned with assigning costs to various cost objects. b) Attempts to satisfy the costing objectives of both financial and management accounting. c) Provides cost information the supports planning, controlling and decision making. d) All of the above. Answer: D (2 points) 2) Cost management information systems further competitive advantage by supporting three fundamental organizational goals. Which of the following is NOT one of these fundamental goals? a) Improved time based performance. b) Improved...
Define cost smoothing, and describe the consequences it can have on costs. What is cost smoothing?...
Define cost smoothing, and describe the consequences it can have on costs. What is cost smoothing? A. Cost smoothing describes a costing approach that allocates indirect costs to cost objects based on the budgeted average indirect cost rates multiplied by the budgeted quantities of the cost allocation bases. B. Cost smoothing describes the method of calculating the average fixed manufacturing overhead cost of each unit produced or service performed. C. Cost smoothing describes a costing system that uses direct costs...
The accumulating, tracking, and assigning of production costs to the goods and services produced is called...
The accumulating, tracking, and assigning of production costs to the goods and services produced is called a A. pricing system B. managerial system C.product costing system D. manufacturing system
PA4-2 (Algo) Assigning Costs Using Traditional System, Assigning Costs Using Activity Proportions (LO 4-1, 4-3, 4-5,...
PA4-2 (Algo) Assigning Costs Using Traditional System, Assigning Costs Using Activity Proportions (LO 4-1, 4-3, 4-5, 4-6) Carlise Corp., which manufactures ceiling fans, currently has two product lines, the Indoor and the Outdoor. Carlise has total overhead of $133,472 Carlise has identified the following information about its overhead activity cost pools and the two product lines: Cost Quantity/Amount Quantity/Amount Assigned consumed by Indoor Consumed by Outdoor Activity Cost Pools Cost Driver to Pool Line Line Materials handling Number of moves...
Which of the following is true of a unit-based costing system? a. It estimates the time...
Which of the following is true of a unit-based costing system? a. It estimates the time to perform one unit of activity. b. It assigns only manufacturing costs to products. c. It measures the demands that cost objects place on support activities. d. It offers greater product costing accuracy than an activity-based costing system. If unit-based product costing is used, which of the following would be traced directly to the product? a. inspection costs b. maintenance of machinery c. setup...
What are the first and second stage procedures in assigning costs to products when using an...
What are the first and second stage procedures in assigning costs to products when using an activity-based costing system? please provide a brief description of each.
E4-14 (Algo) Assigning Costs Using Traditional System, ABC System (LO 4-1, 4-3, 4-4,4-5) Julio produces two...
E4-14 (Algo) Assigning Costs Using Traditional System, ABC System (LO 4-1, 4-3, 4-4,4-5) Julio produces two types of calculator, standard and deluxe. The company is currently using a traditional costing system with machine hours as the cost driver but is considering a move to activity-based costing. In preparing for the possible switch, Julio has identified two cost pools materials handling and setup. The collected data follow: Standard Model 26,800 Deluxe Model 31,800 Number of machine hours Number of material moves...
E4-12 Assigning Costs Using Traditional System, ABC System [LO 4-1, 4-3, 4-4, 4-5, 4-6] Bunker makes...
E4-12 Assigning Costs Using Traditional System, ABC System [LO 4-1, 4-3, 4-4, 4-5, 4-6] Bunker makes two types of briefcase, fabric and leather. The company is currently using a traditional costing system with labor hours he cost driver but is considering switching to an activity-based costing system. In preparation for the possible switch, Bunker has identified two activity cost pools: materials handling and setup. Pertinent data follow: Leather Case 11,000 Number of labor hours Number of material moves Number of...
1) Cost Accounting: a) Is concerned with assigning costs to various cost objects. b) Attempts to satisfy the costing objectives of both financial and management accounting. c) Provides cost information the supports planning, controlling and decision making. dl All of the above. Answer: _(2 points) 2) Cost management information systems further competitive advantage by supporting three fundamental organizational goals. Which of the following is NOT one of these fundamental goals? a) Improved time based performance. b) Improved quality of products...
Assigning costs to cost objects Select one: a. do all of these. b. can be a simple or complex process. C. can be accomplished in a number of ways. d. provides information for decision making.
CHAPTER ONE 1) Cost Accounting: a) Is concerned with assigning costs to various cost objects. b) Attempts to satisfy the costing objectives of both financial and management accounting. c) Provides cost information the supports planning, controlling and decision making. d) All of the above. Answer: D (2 points) 2) Cost management information systems further competitive advantage by supporting three fundamental organizational goals. Which of the following is NOT one of these fundamental goals? a) Improved time based performance. b) Improved...
PA4-2 (Algo) Assigning Costs Using Traditional System, Assigning Costs Using Activity Proportions (LO 4-1, 4-3, 4-5, 4-6) Carlise Corp., which manufactures ceiling fans, currently has two product lines, the Indoor and the Outdoor. Carlise has total overhead of $133,472 Carlise has identified the following information about its overhead activity cost pools and the two product lines: Cost Quantity/Amount Quantity/Amount Assigned consumed by Indoor Consumed by Outdoor Activity Cost Pools Cost Driver to Pool Line Line Materials handling Number of moves...
Which of the following is true of a unit-based costing system? a. It estimates the time to perform one unit of activity. b. It assigns only manufacturing costs to products. c. It measures the demands that cost objects place on support activities. d. It offers greater product costing accuracy than an activity-based costing system. If unit-based product costing is used, which of the following would be traced directly to the product? a. inspection costs b. maintenance of machinery c. setup...
E4-14 (Algo) Assigning Costs Using Traditional System, ABC System (LO 4-1, 4-3, 4-4,4-5) Julio produces two types of calculator, standard and deluxe. The company is currently using a traditional costing system with machine hours as the cost driver but is considering a move to activity-based costing. In preparing for the possible switch, Julio has identified two cost pools materials handling and setup. The collected data follow: Standard Model 26,800 Deluxe Model 31,800 Number of machine hours Number of material moves...
E4-12 Assigning Costs Using Traditional System, ABC System [LO 4-1, 4-3, 4-4, 4-5, 4-6] Bunker makes two types of briefcase, fabric and leather. The company is currently using a traditional costing system with labor hours he cost driver but is considering switching to an activity-based costing system. In preparation for the possible switch, Bunker has identified two activity cost pools: materials handling and setup. Pertinent data follow: Leather Case 11,000 Number of labor hours Number of material moves Number of...
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