Which of the following is performed first in setting up an ABC system? a. Identify relevant...
Which of the following is performed first in setting up an ABC system?
a. Identify relevant cost objects
b. Assign costs to the costs pools
c. Identify activities that are part of the manufacturing or service delivery process
d. Allocate activity costs to the cost objects
Homework Answers
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Option C is the answer Identifying the activities which are involved in the production of a product is the first step to be performed when setting up a activity based costing system |
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Which of the following is performed first in setting up an ABC
system?
a. Identify relevant...
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...
Hagy Corporation has an activity-based costing system with three activity cost pools--Processing, Setting Up, and Other....
Hagy Corporation has an activity-based costing system with three activity cost pools--Processing, Setting Up, and Other. The company's overhead costs, which consist of factory utilities and indirect labor, are allocated to the cost pools in proportion to the activity cost pools' consumption of resources Data concerning the company's costs and activity based costing system appear below. 399,000 Factory utilities (total) Indirect labor (total) $13.000 eBook Pent Distribution of Resource Consumption Across Activity Cost Pools Processing Setting Up Other Factory utilities...
Hagy Corporation has an activity-based costing system with three activity cost pools--Processing, Setting Up, and other....
Hagy Corporation has an activity-based costing system with three activity cost pools--Processing, Setting Up, and other. The company's overhead costs, which consist of factory utilities and indirect labor, are allocated to the cost pools in proportion to the activity cost pools' consumption of resources. Data concerning the company's costs and activity-based costing system appear below: Factory utilities (total) Indirect labor (total) $100,000 $ 13,500 Distribution of Resource Consumption Across Activity Cost Pools Processing Setting Up 0.40 0.50 0. 100 .20...
Hagy Corporation has an activity-based costing system with three activity cost pools--Processing, Setting Up, and Other....
Hagy Corporation has an activity-based costing system with three activity cost pools--Processing, Setting Up, and Other. The company's overhead costs, which consist of factory utilities and indirect labor, are allocated to the cost pools in proportion to the activity cost pools' consumption of resources. Data concerning the company's costs and activity-based costing system appear below: Factory utilities (total) $ 107,000 Indirect labor (total) $ 9,500 Distribution of Resource Consumption Across Activity Cost Pools Processing Setting Up Other Factory utilities 0.10...
1.What is the proper order of tasks in an ABC system? A. identify the cost drivers,...
1.What is the proper order of tasks in an ABC system? A. identify the cost drivers, assign the costs to the products, calculate the overhead application rate for each cost pool, identify the cost pools B. assign the costs to the products, identify the cost drivers, calculate the overhead application rate for each cost pool, identify the cost pool C. identify the cost drivers, identify the cost pools, calculate the overhead application rate for each cost pool, assign the costs...
Howell Corporation's activity-based costing system has three activity cost pools--Machining, Setting Up, and Other. The company's...
Howell Corporation's activity-based costing system has three activity cost pools--Machining, Setting Up, and Other. The company's overhead costs, which consist of equipment depreciation and Indirect labor, are allocated to the cost pools In prop cost pools' consumption of resources. Equipment depreciation (total) Indirect labor (total) $ 34,400 $ 7,730 Distribution of Resource Consumption Across Activity Cost Pools Equipment depreciation Indirect labor Machining 2.30 2.40 Setting Up 2.30 0.28 Other 0.40 0.40 Costs in the Machining cost pool are assigned to...
Groleau Corporation has an activity-based costing system with three activity cost pools: Processing, Setting Up, and...
Groleau Corporation has an activity-based costing system with three activity cost pools: Processing, Setting Up, and Other. The company's overhead costs, which consist of factory utilities and indirect labor, are allocated to the cost pools in proportion to the activity cost pools' consumption of resources. Costs in the Processing 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...
Howell Corporation's activity-based costing system has three activity cost pools--Machining, Setting Up, and Other. The company's...
Howell Corporation's activity-based costing system has three activity cost pools--Machining, Setting Up, and Other. The company's overhead costs, which consist of equipment depreciation and indirect labor, are allocated to the cost pools in proportion to the activity cost pools' consumption of resources Equipment depreciation (total) Indirect labor (total) $32,300 $7.250 Distribution of Resource Consumption Across Activity Cost Pools Machining Setting up Equipment depreciation ceciation 0.50 0.30 0.30 Indirect labor other 0.30 0.20 Costs in the Machining cost pool are assigned...
Moorman Corporation has an activity-based costing system with three activity cost pools--Processing, Setting Up, and Other...
Moorman 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 $54,000 and indirect labor totals $5,500. Data concerning the distribution of resource consumption across activity cost pools appear below: Equipment depreciation Indirect labor Processing 0.50 0.40 Setting Up 0 .20 0.30 Other 0.30...
Howell Corporation's activity-based costing system has three activity cost pools-Machining, Setting Up, and Other. The company's...
Howell Corporation's activity-based costing system has three activity cost pools-Machining, Setting Up, and Other. The company's overhead costs, which consist of equipment depreciation and indirect labor, are allocated to the cost pools in proportion to the activity cost pools' consumption of resources. Equipment depreciation (total) Indirect labor (total) $32,900 $ 7,460 Distribution of Resource Consumption Across Activity Cost Pools Equipment depreciation Indirect labor Machining 0.30 0.40 Setting Up Other 0.40 0.30 0.20 0.40 Costs in the Machining cost pool are...
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...
Hagy Corporation has an activity-based costing system with three activity cost pools--Processing, Setting Up, and Other. The company's overhead costs, which consist of factory utilities and indirect labor, are allocated to the cost pools in proportion to the activity cost pools' consumption of resources Data concerning the company's costs and activity based costing system appear below. 399,000 Factory utilities (total) Indirect labor (total) $13.000 eBook Pent Distribution of Resource Consumption Across Activity Cost Pools Processing Setting Up Other Factory utilities...
Hagy Corporation has an activity-based costing system with three activity cost pools--Processing, Setting Up, and other. The company's overhead costs, which consist of factory utilities and indirect labor, are allocated to the cost pools in proportion to the activity cost pools' consumption of resources. Data concerning the company's costs and activity-based costing system appear below: Factory utilities (total) Indirect labor (total) $100,000 $ 13,500 Distribution of Resource Consumption Across Activity Cost Pools Processing Setting Up 0.40 0.50 0. 100 .20...
Howell Corporation's activity-based costing system has three activity cost pools--Machining, Setting Up, and Other. The company's overhead costs, which consist of equipment depreciation and Indirect labor, are allocated to the cost pools In prop cost pools' consumption of resources. Equipment depreciation (total) Indirect labor (total) $ 34,400 $ 7,730 Distribution of Resource Consumption Across Activity Cost Pools Equipment depreciation Indirect labor Machining 2.30 2.40 Setting Up 2.30 0.28 Other 0.40 0.40 Costs in the Machining cost pool are assigned to...
Groleau Corporation has an activity-based costing system with three activity cost pools: Processing, Setting Up, and Other. The company's overhead costs, which consist of factory utilities and indirect labor, are allocated to the cost pools in proportion to the activity cost pools' consumption of resources. Costs in the Processing 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...
Howell Corporation's activity-based costing system has three activity cost pools--Machining, Setting Up, and Other. The company's overhead costs, which consist of equipment depreciation and indirect labor, are allocated to the cost pools in proportion to the activity cost pools' consumption of resources Equipment depreciation (total) Indirect labor (total) $32,300 $7.250 Distribution of Resource Consumption Across Activity Cost Pools Machining Setting up Equipment depreciation ceciation 0.50 0.30 0.30 Indirect labor other 0.30 0.20 Costs in the Machining cost pool are assigned...
Moorman 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 $54,000 and indirect labor totals $5,500. Data concerning the distribution of resource consumption across activity cost pools appear below: Equipment depreciation Indirect labor Processing 0.50 0.40 Setting Up 0 .20 0.30 Other 0.30...
Howell Corporation's activity-based costing system has three activity cost pools-Machining, Setting Up, and Other. The company's overhead costs, which consist of equipment depreciation and indirect labor, are allocated to the cost pools in proportion to the activity cost pools' consumption of resources. Equipment depreciation (total) Indirect labor (total) $32,900 $ 7,460 Distribution of Resource Consumption Across Activity Cost Pools Equipment depreciation Indirect labor Machining 0.30 0.40 Setting Up Other 0.40 0.30 0.20 0.40 Costs in the Machining cost pool are...
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