ACCT 212 Learnsmart Assignment 4 Liberty University Solution
Costs to implement an activity-based system are considered a of this system.
Jackson Company uses activity-based costing to allocate their overhead costs. Setup costs of $850,000 are based on number of batches. Design modifications of $155,000 are based on number of design changes. Jackson Company has identified 40,000 batches and has 5,000 design modifications. What is the activity rate for setup?
A collection of costs related to a similar activity is a(n) ____ cost pool.
Identify the four steps used to accumulate and allocate costs in an activity-based costing method. Rank these in the correct order.
Johnson Company has the following overhead costs: machine setup $25,000; factory maintenance $10,000; heating and lightning $15,000; and assembly line power $5,000. What is the total indirect labor using activity-based costing?
Applying a single overhead rate to all products is known as the ___ overhead rate method.
The cost object of the cost assignment under the plantwide overhead rate method is the
Mobile Company uses activity-based costing. One of their products, a phone, requires 20 setup activities at $50 per setup and 15 design modification activities at $1,000 per design. If mobile Company produces 2,000 phones, what is the total overhead cost per unit?
In activity-based costing, activities in each cost pool should be (similar/disimilar) .
Select all answers which apply. The plant wide overhead rate can be based on:
Advantages of using activity-based costing includes all of the following:
level activities are focused on the whole facility.
The overhead rate method which uses a different overhead rate for each production department is the
In activity-based costing, an activity cost_____ (driver, pool) is the factor which causes costs in the pool to be incurred
The departmental overhead rate method uses a four-step process to allocate cost objects. List these steps in the correct order
An activity which focuses on product lines and are not affected by number of units is a
During step 3 of activity-based costing, activity rates are used to assign overhead to products. Proper determination of activity rates depends on all of the following:
During the ____________ (first, second, third, fourth) step in activity-based costing, overhead costs in each activity cost pool are allocated to products.
A batch level activity will vary with the
List the four steps of activity-based costing in the correct order.
Which of the following are a type of overhead allocating method?
Landen Company uses a single plantwide overhead rate of $100 per direct labor hour (DLH). Landen has two products as follows: basic chairs which used 20 DLH and deluxe chairs which uses 35 DLH. What is the total amount allocated to these products?
____ (Identifying, Assigning, Tracing) activities is the first step in applying activity-based costing.
Activities causing overhead include all of the following:
____ (Unit, Batch, Product) activities are performed on each product unit.
What is the second step in activity-based costing?
Select all correct answers. The basis of the activity-based costing method is a(n)