KA2e_SelfStudy_Ch17

KA2e_SelfStudy_Ch17 - File ch17 Chapter 17 Activity-Based...

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File: ch17, Chapter 17: Activity-Based Costing Multiple Choice 1. Activity-based costing (ABC): a) can be used only in a process cost system. b) focuses on units of production. c) focuses on activities performed to produce a product. d) uses only a single basis of allocation. Ans: c Response A: Activity-based costing can be used in either a process cost or a job order cost system. Response B: Activity-based costing focuses on activities performed to produce a product, not on units of production. Response C: Correct! This is an accurate statement about activity-based costing. Response D: Activity-based costing uses multiple bases of allocation, not just a single basis of allocation. 2. Activity-based costing: 3. Any activity that causes resources to be consumed is called a:
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