Under activity-based costing, second stage allocation would involve: a. Calculating activity rates O b. Assigning costs to cost objects. O c. Assigning costs to cost pools O d. None of the given answers . O e. Defining activity measures

Q: In the blank next to the following terms, place the letter A through D corresponding to the best…

A: Cost:   It is the economic value of resources incurred by a firm to manufacture a product or render…

Q: Which of the following is true regarding cost drivers? A-Cost drivers cause an activity's cost…

A: The concept of activity-based costing requires identifying the cost pool, cost driver, number of…

Q: a. what are the primary differences between traditional and activity-based costing?

A: Traditional costing and Activity based costing are two types of costing methods that are being used…

Q: true of false: A collection of costs to be assigned is called a cost pool.

A: Activity based Costing system is a method which is used to calculate total amount of Cost by…

Q: Consider the following statements concerning activity-based costing. 1. Cost pools are linked to…

A: 1. The correct answer is: (D) Total life cycle costing. While Kaizen costing and total life-cycle…

Q: The allocation of indirect costs in an activity-based costing system a. may require other costs to…

A: In ABC(Activity-Based Costing) costs are traced to specific activities (activity pools) within an…

Q: Explain why standard costing is more suitable for controlling the cost of unit-level activities

A: Standard costing is a cost accounting method in which predetermined levels of sales, production,…

Q: What are the challenges of using the incremental cost allocation method when allocating common costs…

A: Cost Allocation Method:   The cost allocation method is the method by which the costs to be assigned…

Q: In an activity-based costing system, the first step in assigning costs is to • A. separate…

A: Activity-based costing is the method of allocating/assigning the indirect cost to various products…

Q: costing concentrates on managing costs by making as many small savings as possible. ...

A: 1. The correct answer is: (A) Kaizen    Kaizen costing is a cost management technique used to…

Q: lative to traditional product costing, activity-based costing differs in the way costs are Group of…

A: There are different methods of costing in the accounting some are simple but others are not so…

Q: The internal cost analysis process involves the following in what order? (A) Identify the links…

A: Internal cost analysis used for analysing value creating process and opportunity to reduce its cost…

Q: A cost objective is the: O reason for allocating the cost O product, service, or department that is…

A: Cost object is the allocation related to the product, service. It allocate the cost according to the…

Q: ost classifications used for assigning costs to cost objects include: Multiple Choice Variable cost…

A: Cost Classification Determining the cost in the organisation is one of the important part in the…

Q: In the first stage of ABC, a cost driver is selected for each activity cost pool. True or False?

A: ABC i.e. Activity Based Costing is a type of costing method used by companies to assign overhead and…

Q: There are four steps in the two-stage cost allocation process using ABC. Which of the following not…

A: Activity-Based costing system: Activity-based costing is a costing method that identifies activities…

Q: Classify the following fixed costs as normally being either committed or discretionary:f. Management…

A: Cost:   It is the economic value of resources incurred by a firm to manufacture a product or render…

Q: Cost allocation bases are ideally based on a cause and effect basis. That is not always easy when…

A: Cost allocation is the process of assigning or distributing a company's indirect costs to various…

Q: The specific function costs are called _________ costs.

A: Solution: The specific function costs are called variable costs. Variable costs are expenses that…

Q: In activity-based costing, some manufacturing costs may be excluded from product costs TRUE FALSE

A: Lets understand the basics. Activity based costing is as the name suggest allocate cost based on the…