Question 2: Why related activities are frequently combined into activity pools in the ABC system? A...
Question 2:
Why related activities are frequently combined into activity pools in the ABC system?
A To improve the costing accuracy
B To reduce the amount of detail and record-keeping costs
C To understand the detailed nature of activities
D Because the ABC requires the limited use of the number of activity drivers
Homework Answers
Answer to q
Option A to improve the costing accuracy
It helps in leading the price in to more accurately basis.
Add Answer to:
Question 2:
Why related activities are frequently combined into activity
pools in the ABC system?
A...
Gamble Products has adopted an ABC costing system. The following manufacturing activities, indirect manufacturing costs, and...
Gamble Products has adopted an ABC costing system. The following manufacturing activities, indirect manufacturing costs, and cost drivers have been identified: (Click the icon to view the activity costs and drivers.) The Job Cost Record for Job #624 revealed that direct materials requisitioned for the job totaled $1,140. The Job Cost Record also showed that direct labor for this job totaled 6 hours at a wage rate of $22 per hour. Other data collected on the resources used by Job...
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...
Cormwell Products has adopted an ABC costing system. The following manufacturing activities, indirect manufacturing costs, and...
Cormwell Products has adopted an ABC costing system. The following manufacturing activities, indirect manufacturing costs, and cost drivers have been identified: The Job Cost Record for Job #804 revealed that direct materials requisitioned forthe job totaled $1,250. The Job Cost Record also showed that direct labor for this job totaled 12 hours at a wage rate of $30 per hour. Total estimated Total estimated amount Activit l costs related of allocation base activity to activity $180,000 2,000 setups 2000 Machine...
Approximately Relevant ABCSilven Company has identified the following overhead activities, costs, and activity drivers for the...
Approximately Relevant ABCSilven Company has identified the following overhead activities, costs, and activity drivers for the coming year:Silven produces two models of cell phones with the following expected activity demands:Required:1. Determine the total overhead assigned to each product using the four activity drivers.2. Determine the total overhead assigned to each model using the two most expensive activities. The costs of the two relatively inexpensive activities are allocated to the two expensive activities in proportion to their costs.3. Using ABC as...
question 20 an ABC system is one building block of activity - based management (ABM) ....
question 20 an ABC system is one building block of activity - based management (ABM) . the second building block is 1- the ability for managers to understand that the demand for output is central to profitability 2- knowing the limitations of allocating indirect costs 3-automating the costing system 4-that senior management support is crucial 5- understanding the components of indirect cost pools
Bluefield has decided to use an ABC costing system and has identified the following detailed information...
Bluefield has decided to use an ABC costing system and has identified the following detailed information about its cost pools and cost drivers: Activity cost pools Materials handling $67,840 Machine maintenance $22,140 Cost drivers Number of material moves 530 Number of machine hours 54,000 Required: 1. Calculate Bluefield’s activity rate for each cost pool. 2. Determine the amount of overhead assigned to Bluefield’s products if each has the following activity demands: Product A Product B Number of material moves 290...
Assigned Media Question Help o E4-24A (similar to) Camoy Products has adopted an ABC cooling system....
Assigned Media Question Help o E4-24A (similar to) Camoy Products has adopted an ABC cooling system. The following manufacturing activities. Indirect manufacturing costs, and cost drivers have been identified: Click the icon to view the activity costs and drivers.) The Job Cost Record for Job 0624 revealed that direct materials requisitioned for the job totaled S1,040 The Job Cost Record also showed that direct labor for this job totaled 8 hours at a wage rate of $27 per hour Other...
QUESTION 2 Youth Corporation has an activity-based costing system with three activity cost pools-Processing Setting Up,...
QUESTION 2 Youth Corporation has an activity-based costing system with three activity cost pools-Processing Setting Up, and Other. The company's overhead costs consist of equipment depreciation and indirect labor and are allocated to the cost pools in proportion to the activity cost pools' consumption of resources. Equipment depreciation totals $72,000 and indirect labor totals $8,000. Data concerning the distribution of resource consumption across activity cost pools appear below Equipment depreciation020 Indirect labor Processing Setting Upother 0.40 0.50 0.40 Required: Assign...
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...
QUESTION 2 Youth Corporation has an activity-based costing system with three activity cost pools-Processing, Setting Up,...
QUESTION 2 Youth Corporation has an activity-based costing system with three activity cost pools-Processing, Setting Up, and Other. The company's overhead costs consist of equipment depreciation and indirect labor and are allocated to the cost pools in proportion to the activity cost pools' consumption of resources. Equipment depreciation totals $72,000 and indirect labor totals $8,000. Data concerning the distribution of resource consumption across activity cost pools appear below: Equipment depreciation........... Indirect labor Processing 0.20 0.20 Setting Up 0.40 0.30 Other...
Gamble Products has adopted an ABC costing system. The following manufacturing activities, indirect manufacturing costs, and cost drivers have been identified: (Click the icon to view the activity costs and drivers.) The Job Cost Record for Job #624 revealed that direct materials requisitioned for the job totaled $1,140. The Job Cost Record also showed that direct labor for this job totaled 6 hours at a wage rate of $22 per hour. Other data collected on the resources used by Job...
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...
Cormwell Products has adopted an ABC costing system. The following manufacturing activities, indirect manufacturing costs, and cost drivers have been identified: The Job Cost Record for Job #804 revealed that direct materials requisitioned forthe job totaled $1,250. The Job Cost Record also showed that direct labor for this job totaled 12 hours at a wage rate of $30 per hour. Total estimated Total estimated amount Activit l costs related of allocation base activity to activity $180,000 2,000 setups 2000 Machine...
Approximately Relevant ABCSilven Company has identified the following overhead activities, costs, and activity drivers for the coming year:Silven produces two models of cell phones with the following expected activity demands:Required:1. Determine the total overhead assigned to each product using the four activity drivers.2. Determine the total overhead assigned to each model using the two most expensive activities. The costs of the two relatively inexpensive activities are allocated to the two expensive activities in proportion to their costs.3. Using ABC as...
Assigned Media Question Help o E4-24A (similar to) Camoy Products has adopted an ABC cooling system. The following manufacturing activities. Indirect manufacturing costs, and cost drivers have been identified: Click the icon to view the activity costs and drivers.) The Job Cost Record for Job 0624 revealed that direct materials requisitioned for the job totaled S1,040 The Job Cost Record also showed that direct labor for this job totaled 8 hours at a wage rate of $27 per hour Other...
QUESTION 2 Youth Corporation has an activity-based costing system with three activity cost pools-Processing Setting Up, and Other. The company's overhead costs consist of equipment depreciation and indirect labor and are allocated to the cost pools in proportion to the activity cost pools' consumption of resources. Equipment depreciation totals $72,000 and indirect labor totals $8,000. Data concerning the distribution of resource consumption across activity cost pools appear below Equipment depreciation020 Indirect labor Processing Setting Upother 0.40 0.50 0.40 Required: Assign...
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...
QUESTION 2 Youth Corporation has an activity-based costing system with three activity cost pools-Processing, Setting Up, and Other. The company's overhead costs consist of equipment depreciation and indirect labor and are allocated to the cost pools in proportion to the activity cost pools' consumption of resources. Equipment depreciation totals $72,000 and indirect labor totals $8,000. Data concerning the distribution of resource consumption across activity cost pools appear below: Equipment depreciation........... Indirect labor Processing 0.20 0.20 Setting Up 0.40 0.30 Other...
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