An costing system first traces costs to activities and then to products ANSWER

An costing system first traces costs to activities

This preview shows page 7 - 9 out of 96 pages.

33. A(n) costing system first traces costs to activities and then to products.34. Activity are nonfinancial and financial data that describe individual activities.35. The activity is a simple list of activities identified in an ABC system.36. Activity helps management achieve objectives such as product or customer costing andcontinuousimprovement.37. Materials handling would be classified as a activity when using activity-level costing.38. An costing database is the collected data sets that are organized and interrelated for use in acompany’s ABC information system.39. A(n) is a grouping of logically related information.40. In the ABC systems, managers directly estimate the resource demands imposed by each product.41. Unit-level product costing assignsa. direct materials and direct labor directly to products and assigns overhead to departmental pools which areassigned to products using predetermined overhead rates based on unit-level drivers.b. direct materials, direct labor and overhead to departmental cost pools which are assigned to products usingpredetermined overhead rates based on unit-level drivers.c. direct materials and direct labor directly to products and assigns overhead to departmental pools which areassigned to products using predetermined overhead rates based on non-unit level drivers.d. direct materials, direct labor and overhead to departmental cost pools which are assigned to products usingpredetermined overhead rates based on non-unit level drivers.ANSWER: a
Chapter 4: Activity-Based Costing42. Which is NOT a characteristic of a unit-based costing system?c43. Unit-based product costing uses which of the following procedures?b

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture