Identify at least 3 advantages that are associated with activity-based costing over the standard costing system....
Homework Answers
The following are the 3 main advantages that are associated with
ABC costing over the standard costing system:
1. More accurate product costing
2. More effective cost control
3. Better focus on the relevant factors for decision making.
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Identify at least 3 advantages that are associated with
activity-based costing over the standard costing system....
1. Identify and discuss the advantages and disadvantages of activity based costing: 2. Does a company's...
1. Identify and discuss the advantages and disadvantages of activity based costing: 2. Does a company's costing method have any effect on its pricing decisions? Explain. please briefly detailed answer not less than 500 words with References please.
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).
3. explain why more companies are changing their costing system to Activity Based Costing. (8 marks)
3. explain why more companies are changing their costing system to Activity Based Costing. (8 marks)
3. (7 points) Griffin Corporation's activity-based costing system has three activity cost pools-- Machining, Setting Up...
3. (7 points) Griffin Corporation's activity-based costing system has three activity cost pools-- Machining, Setting Up, and Other. The company's overhead costs have already been allocated to these cost pools as follows: Machining Setting Up Other $ 41,200 9,000 $ 33,800 Costs in the Machining cost pool are assigned to products based on machine-hours (MHs) and costs in the Setting Up cost pool are assigned to products based on the number of batches. Costs in the Other cost pool are...
Class activity 3 1- List at least 3 advantages of thermal energy storage 2- List at...
Class activity 3 1- List at least 3 advantages of thermal energy storage 2- List at least 3 disadvantages of thermal energy storage 2. Explain clearly the principle of operation of the solar hot water system shown below
Activity-Based Costing Define activity-based costing (ABC) systems. What benefits does implementing an ABC system bring to...
Activity-Based Costing Define activity-based costing (ABC) systems. What benefits does implementing an ABC system bring to the company? Explain at least two benefits. What are the disadvantages to implementing an ABC system? List and explain at least two. Would the proposed changes make ABC a universally applicable costing method in your opinion? Why or why not? Elaborate your response. Non-Financial Performance Many city and county governments are discovering that you can control only what you measure. As a result, many...
3. Hugle Corporation's activity-based costing system has three activity cost pools-Machining, Setting Up, and Other. The...
3. Hugle Corporation's activity-based costing system has three activity cost pools-Machining, Setting Up, and Other. The company's overhead costs have already been allocated to these cost pools as follows: Machining....... Setting Up.... Other ................. $15,200 $44,800 16,000 Costs in the Machining cost pool are assigned to products based on machine-hours (MHs) and costs in the Setting Up cost pool are assigned to products based on the number of batches. Costs in the Other cost pool are not assigned to products....
Exercise 2A-3 Activity-Based Absorption Costing as an Alternative to Traditional Product Costing (LO2- 5) Stillicum Corporation...
Exercise 2A-3 Activity-Based Absorption Costing as an Alternative to Traditional Product Costing (LO2- 5) Stillicum Corporation makes ultra light-weight backpacking tents. Data concerning the company's two product lines appear below: Direct materials per unit Direct labor per unit Direct labor-hours per unit Estimated annual production $ 56.00 $ 14.00 0.70 DLHS 10,000 units Standard $ 44.00 $ 11.60 1.40 DLHS 50,000 units The company has a traditional costing system in which manufacturing overhead is applied to units based on direct...
Using the company's activity-based costing system, compute the customer margin of Big Sky...
Thermal Rising, Inc., makes paragliders for sale through specialty sporting goods stores. The company has a standard paraglider model, but also makes custom-designedparagliders. Management has designed an activity-based costing system with the following activity cost pools and activity rates:Activity Cost Pool Activity RateSupporting direct labor $26 per direct labor-hourOrder processing $284 per orderCustom designing processing $186 per custom designCustomer service $379 per customerManagement would like an analysis of the profitability of a particular customer, Big Sky Outfitters, which has ordered...
Explain three (3) benefits in using an Activity-based costing system for a manufacturing company.
Explain three (3) benefits in using an Activity-based costing system for a manufacturing company.
3. (7 points) Griffin Corporation's activity-based costing system has three activity cost pools-- Machining, Setting Up, and Other. The company's overhead costs have already been allocated to these cost pools as follows: Machining Setting Up Other $ 41,200 9,000 $ 33,800 Costs in the Machining cost pool are assigned to products based on machine-hours (MHs) and costs in the Setting Up cost pool are assigned to products based on the number of batches. Costs in the Other cost pool are...
Class activity 3 1- List at least 3 advantages of thermal energy storage 2- List at least 3 disadvantages of thermal energy storage 2. Explain clearly the principle of operation of the solar hot water system shown below
3. Hugle Corporation's activity-based costing system has three activity cost pools-Machining, Setting Up, and Other. The company's overhead costs have already been allocated to these cost pools as follows: Machining....... Setting Up.... Other ................. $15,200 $44,800 16,000 Costs in the Machining cost pool are assigned to products based on machine-hours (MHs) and costs in the Setting Up cost pool are assigned to products based on the number of batches. Costs in the Other cost pool are not assigned to products....
Exercise 2A-3 Activity-Based Absorption Costing as an Alternative to Traditional Product Costing (LO2- 5) Stillicum Corporation makes ultra light-weight backpacking tents. Data concerning the company's two product lines appear below: Direct materials per unit Direct labor per unit Direct labor-hours per unit Estimated annual production $ 56.00 $ 14.00 0.70 DLHS 10,000 units Standard $ 44.00 $ 11.60 1.40 DLHS 50,000 units The company has a traditional costing system in which manufacturing overhead is applied to units based on direct...
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