Q5. Which of the following managerial accounting techniques attempts to allocate manufacturing overhead in a more...
Homework Answers
D) Activity-based costing.
In activity based costing, the costs of each activity is assigned to all products and services based on actual consumption by each product and service, so it easier to identify and allocate costs and per product/service cost and also be identified.
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Q5. Which of the following managerial accounting techniques
attempts to allocate manufacturing overhead in a more...
Exercise 10-18 The following is a list of terms related to managerial accounting practices 1. Activity-based...
Exercise 10-18 The following is a list of terms related to managerial accounting practices 1. Activity-based costing 2. Just in time inventory 3. Balanced Scorecard. 4. Value chain. Match each of the terms with the statement below that best describes the term, Terms Description A performance measurement technique that attempts to consider and evaluate all aspects of performance using financial and nonfinancial measures in an integrated fashion The group of activities associated with providing a product or performing a service....
Which of the following would be less likely to be used to allocate factory overhead when...
Which of the following would be less likely to be used to allocate factory overhead when activity-based costing is employed? a. Setups b. Inspections c. Direct labor costs d. Engineering changes An alternative approach for allocating factory overhead when there are diverse products and processes is a. absorption costing. b. variable costing. c. activity-based costing. d. All of these choices are correct. Differential analysis may be used for the common decisions of leasing or selling equipment and manufacturing or purchasing...
Exercise 1-18 The following is a list of terms related to managerial accounting practices. 1. Activity-based...
Exercise 1-18 The following is a list of terms related to managerial accounting practices. 1. Activity-based costing 2. Just-in-time inventory 3. Balanced scorecard. 4. Value chain. Match each of the terms with the statement below that best describes the term. Terms Description A performance-measurement technique that attempts to consider and evaluate all aspects of performance using financial and nonfinancial measures in an integrated fashion. The group of activities associated with providing a product or performing a service An approach used...
4. The process that attempts to assign overhead costs more accurately: a. Product costing b. Process...
4. The process that attempts to assign overhead costs more accurately: a. Product costing b. Process costing c. Departmental overhead rate d. Activity based costing
Blackboard: Towson University: Weygandt, Managerial Accou Weygandt, Managerial Accounting, 7e CALCULATOR Time: 07:4...
Blackboard: Towson University: Weygandt, Managerial Accou Weygandt, Managerial Accounting, 7e CALCULATOR Time: 07:49 PM/ Remaining: 117 min Question 22 Fine Industries uses activity-based costing to assist management in setting prices for the company's three major product lines. The following information is available: Expected Use of Cost Driver per Activity Estimated Overhead Activity Cost Pool 25,000 labor hours 900,000 Cutting 8,000,000 320,000 machine hours Stitching 160,000 labor hours 2,800,000 Inspections 64,000 finished goods units 800,000 Packing Compute the activity-based overhead rates....
Which of the following is not a reason to allocate overhead? Allocation is more accurate...
Which of the following is not a reason to allocate overhead? Allocation is more accurate than tracing items directly to jobs. Unlike direct materials and direct labor, the amount of overhead actually incurred may not be known at the time a job is being worked on. Manufacturing overhead is an indirect cost that cannot be physically or economically traced back to a specific item. Some overhead costs are seasonal, and should be spread over production for the entire...
nts) 16. Eaton Company uses activity-based costing to allocate overhead costs to products. When figuring the...
nts) 16. Eaton Company uses activity-based costing to allocate overhead costs to products. When figuring the cost of ordering raw materials, which of the following is likely the best cost driver for this activity? a. Number of orders placed. b. Weight of the parts ordered. c. Square footage of the purchasing department area. d. Direct labor cost e. None of the answer choices is correct. e comfc future for safet materia local h e factor ta rela 17. Which of...
Global Manufacturing Inc. uses normal costing during the year to allocate manufacturing overhead to jobs in...
Global Manufacturing Inc. uses normal costing during the year to allocate manufacturing overhead to jobs in a job costing system. At year end, it uses the adjusted allocation rate approach to account for underallocated or overallocated overhead. During 2018, Global's manufacturing overhead was underallocated by 10%. Job 117 had the following costs: Direct materials $3,000 Direct labor $3,400 Manufacturing overhead allocated $3,500 Which of the following would be the after adjustment cost of Job 117? A.$10,250 B.$10,240 C.$10,890 D.$ 8...
Global Manufacturing Inc. uses normal costing during the year to allocate manufacturing overhead to jobs in...
Global Manufacturing Inc. uses normal costing during the year to allocate manufacturing overhead to jobs in a job costing system. At year end, it uses the adjusted allocation rate approach to account for underallocated or overallocated overhead. During 2020, Global's manufacturing overhead was underallocated by 10%. Job 117 had the following costs: Direct materials $ 1,500 Direct labor $ 3,300 Manufacturing overhead allocated $ 1,600 Which of the following would be the after adjustment cost of Job 1177 O A....
Global Manufacturing Inc. uses normal costing during the year to allocate manufacturing overhead to jobs in...
Global Manufacturing Inc. uses normal costing during the year to allocate manufacturing overhead to jobs in a job costing system. At year end, it uses the adjusted allocation rate approach to account for underallocated or overallocated overhead. During 2018, Global's manufacturing overhead was underallocated by 10%. Job 117 had the following costs: Direct materials Direct labor Manufacturing overhead allocated $2,600 $3,900 $3,400 Which of the following would be the after adjustment cost of Job 117? O A. $10,290 B. $8,910...
Exercise 10-18 The following is a list of terms related to managerial accounting practices 1. Activity-based costing 2. Just in time inventory 3. Balanced Scorecard. 4. Value chain. Match each of the terms with the statement below that best describes the term, Terms Description A performance measurement technique that attempts to consider and evaluate all aspects of performance using financial and nonfinancial measures in an integrated fashion The group of activities associated with providing a product or performing a service....
Exercise 1-18 The following is a list of terms related to managerial accounting practices. 1. Activity-based costing 2. Just-in-time inventory 3. Balanced scorecard. 4. Value chain. Match each of the terms with the statement below that best describes the term. Terms Description A performance-measurement technique that attempts to consider and evaluate all aspects of performance using financial and nonfinancial measures in an integrated fashion. The group of activities associated with providing a product or performing a service An approach used...
Blackboard: Towson University: Weygandt, Managerial Accou Weygandt, Managerial Accounting, 7e CALCULATOR Time: 07:49 PM/ Remaining: 117 min Question 22 Fine Industries uses activity-based costing to assist management in setting prices for the company's three major product lines. The following information is available: Expected Use of Cost Driver per Activity Estimated Overhead Activity Cost Pool 25,000 labor hours 900,000 Cutting 8,000,000 320,000 machine hours Stitching 160,000 labor hours 2,800,000 Inspections 64,000 finished goods units 800,000 Packing Compute the activity-based overhead rates....
nts) 16. Eaton Company uses activity-based costing to allocate overhead costs to products. When figuring the cost of ordering raw materials, which of the following is likely the best cost driver for this activity? a. Number of orders placed. b. Weight of the parts ordered. c. Square footage of the purchasing department area. d. Direct labor cost e. None of the answer choices is correct. e comfc future for safet materia local h e factor ta rela 17. Which of...
Global Manufacturing Inc. uses normal costing during the year to allocate manufacturing overhead to jobs in a job costing system. At year end, it uses the adjusted allocation rate approach to account for underallocated or overallocated overhead. During 2020, Global's manufacturing overhead was underallocated by 10%. Job 117 had the following costs: Direct materials $ 1,500 Direct labor $ 3,300 Manufacturing overhead allocated $ 1,600 Which of the following would be the after adjustment cost of Job 1177 O A....
Global Manufacturing Inc. uses normal costing during the year to allocate manufacturing overhead to jobs in a job costing system. At year end, it uses the adjusted allocation rate approach to account for underallocated or overallocated overhead. During 2018, Global's manufacturing overhead was underallocated by 10%. Job 117 had the following costs: Direct materials Direct labor Manufacturing overhead allocated $2,600 $3,900 $3,400 Which of the following would be the after adjustment cost of Job 117? O A. $10,290 B. $8,910...
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