Activity Based Costing: Activity based costing is one of the methods of costing to identify the activities performed to manufacture a product and to allocate the overhead cost of resources or indirect cost to the related products. Job order costing Job order costing is one of the methods of costing to find out the cost of an individual job or the cost of batches of jobs in the manufacturing firm where different products or unique products are manufactured simultaneously. It is also known as job costing. Here the word job refers to a single or several units of different product or service. To calculate: Allocation of overhead cost to each activity cost pool and to calculate the activity rate for each pool

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Answer 1

Question

Chapter 5, Problem 5.34P

1.

To determine

Activity Based Costing:

Activity based costing is one of the methods of costing to identify the activities performed to manufacture a product and to allocate the overhead cost of resources or indirect cost to the related products.

Job order costing

Job order costing is one of the methods of costing to find out the cost of an individual job or the cost of batches of jobs in the manufacturing firm where different products or unique products are manufactured simultaneously. It is also known as job costing. Here the word job refers to a single or several units of different product or service.

To calculate: Allocation of overhead cost to each activity cost pool and to calculate the activity rate for each pool

2.

To determine

To calculate: Total cost for S O P job

3.

To determine

To calculate: Bid price to perform S O P job

4.

To determine

To explain: Advantage and disadvantage to provide a 2-year estimates

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Answer 2

Question

Chapter 5, Problem 5.34P

1.

To determine

Activity Based Costing:

Activity based costing is one of the methods of costing to identify the activities performed to manufacture a product and to allocate the overhead cost of resources or indirect cost to the related products.

Job order costing

Job order costing is one of the methods of costing to find out the cost of an individual job or the cost of batches of jobs in the manufacturing firm where different products or unique products are manufactured simultaneously. It is also known as job costing. Here the word job refers to a single or several units of different product or service.

To calculate: Allocation of overhead cost to each activity cost pool and to calculate the activity rate for each pool

2.

To determine

To calculate: Total cost for S O P job

3.

To determine

To calculate: Bid price to perform S O P job

4.

To determine

To explain: Advantage and disadvantage to provide a 2-year estimates

Expert Solution & Answer

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Check out a sample textbook solution

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Answer 3

Question

Chapter 5, Problem 5.34P

1.

To determine

Activity Based Costing:

Activity based costing is one of the methods of costing to identify the activities performed to manufacture a product and to allocate the overhead cost of resources or indirect cost to the related products.

Job order costing

Job order costing is one of the methods of costing to find out the cost of an individual job or the cost of batches of jobs in the manufacturing firm where different products or unique products are manufactured simultaneously. It is also known as job costing. Here the word job refers to a single or several units of different product or service.

To calculate: Allocation of overhead cost to each activity cost pool and to calculate the activity rate for each pool

2.

To determine

To calculate: Total cost for S O P job

3.

To determine

To calculate: Bid price to perform S O P job

4.

To determine

To explain: Advantage and disadvantage to provide a 2-year estimates

Expert Solution & Answer

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Answer 4

Question

Chapter 5, Problem 5.34P

1.

To determine

Activity Based Costing:

Activity based costing is one of the methods of costing to identify the activities performed to manufacture a product and to allocate the overhead cost of resources or indirect cost to the related products.

Job order costing

Job order costing is one of the methods of costing to find out the cost of an individual job or the cost of batches of jobs in the manufacturing firm where different products or unique products are manufactured simultaneously. It is also known as job costing. Here the word job refers to a single or several units of different product or service.

To calculate: Allocation of overhead cost to each activity cost pool and to calculate the activity rate for each pool

2.

To determine

To calculate: Total cost for S O P job

3.

To determine

To calculate: Bid price to perform S O P job

4.

To determine

To explain: Advantage and disadvantage to provide a 2-year estimates

Expert Solution & Answer

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Answer 5

Chapter 5, Problem 5.34P

1.

To determine

Activity Based Costing:

Activity based costing is one of the methods of costing to identify the activities performed to manufacture a product and to allocate the overhead cost of resources or indirect cost to the related products.

Job order costing

Job order costing is one of the methods of costing to find out the cost of an individual job or the cost of batches of jobs in the manufacturing firm where different products or unique products are manufactured simultaneously. It is also known as job costing. Here the word job refers to a single or several units of different product or service.

To calculate: Allocation of overhead cost to each activity cost pool and to calculate the activity rate for each pool

2.

To determine

To calculate: Total cost for S O P job

3.

To determine

To calculate: Bid price to perform S O P job

4.

To determine

To explain: Advantage and disadvantage to provide a 2-year estimates

Answer 6

Chapter 5, Problem 5.34P

1.

To determine

Activity Based Costing:

Activity based costing is one of the methods of costing to identify the activities performed to manufacture a product and to allocate the overhead cost of resources or indirect cost to the related products.

Job order costing

Job order costing is one of the methods of costing to find out the cost of an individual job or the cost of batches of jobs in the manufacturing firm where different products or unique products are manufactured simultaneously. It is also known as job costing. Here the word job refers to a single or several units of different product or service.

To calculate: Allocation of overhead cost to each activity cost pool and to calculate the activity rate for each pool

Answer 7

Chapter 5, Problem 5.34P

1.

To determine

Activity Based Costing:

Activity based costing is one of the methods of costing to identify the activities performed to manufacture a product and to allocate the overhead cost of resources or indirect cost to the related products.

Job order costing

Job order costing is one of the methods of costing to find out the cost of an individual job or the cost of batches of jobs in the manufacturing firm where different products or unique products are manufactured simultaneously. It is also known as job costing. Here the word job refers to a single or several units of different product or service.

To calculate: Allocation of overhead cost to each activity cost pool and to calculate the activity rate for each pool

Answer 8

2.

To determine

To calculate: Total cost for S O P job

Answer 9

2.

To determine

To calculate: Total cost for S O P job

Answer 10

3.

To determine

To calculate: Bid price to perform S O P job

Answer 11

3.

To determine

To calculate: Bid price to perform S O P job

Answer 12

4.

To determine

To explain: Advantage and disadvantage to provide a 2-year estimates

Answer 13

4.

To determine

To explain: Advantage and disadvantage to provide a 2-year estimates

Answer 14

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Answer 15

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Answer 16

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Answer 17

Ch. 5 - What is broad averaging, and what consequences can...Ch. 5 - Why should managers worry about product...Ch. 5 - What is costing system refinement? Describe three...Ch. 5 - What is an activity-based approach to designing a...Ch. 5 - Describe four levels of a cost hierarchy.Ch. 5 - Why is it important to classify costs into a cost...Ch. 5 - What are the key reasons for product cost...Ch. 5 - Prob. 5.8Q Ch. 5 - Department indirect-cost rates are never...Ch. 5 - Prob. 5.10Q

To calculate: Total cost for S O P job

To calculate: Bid price to perform S O P job

To explain: Advantage and disadvantage to provide a 2-year estimates

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Chapter 5 Solutions