Question

In: Accounting

Understand you can only answer 1 question, but if you give the extra effort I will...

Understand you can only answer 1 question, but if you give the extra effort I will guarantee a thumbs up.

Which of the following is the proper sequence of the cost allocation process?

A. form cost pools, select an allocation base, identify the cost objectives

B. Identify the cost objectives, form cost pools, select an allocation base

C. Select an allocation base, identify the cost objectives, form cost pools

D. Form cost pools, identify the cost objectives, select an allocation base

Which of the following is not a basis for developing a traditional overhead rate?

A. Machine hours

B. Direct labor hours

C. Number of settings

D. Number of units produced

A measure of an activity used to allocate a cost is a:

A. cost object

B. Cost pool

C. cost objective

D. cost Driver

Which of the following is not a primary focus of activity-base management?

A. To measure the cost of producing a product

B. to improve the effectiveness of an activity

C. to improve the efficiency of an activity

D. To reduce the cost of an activity

Which of the following could be used to allocate factory rent?

A. Machine hours

B. Direct labor hours

C. Number of employees

D. Square footage occupied

Service department fixed costs should be allocated to production departments based on:

A. projected long-run needs of production departments

B. Actual use of production departments

C. projected short-term needs of production departments

D. unitized fixed costs and actual usage by production departments

Use the following variable for next two

Personal Maintenance assembly finishing

Cost of operation $75,000 $55,000

Number of employees 0 25 35 45

Machine hours 0 150 500 300

The maintenance costs allocated to the assembly department are

A. $24,062.50

B. $28,947

C. $34,375

D. $16,740

The personal costs allocated to the maintenance department is:

A. $0

B. $17,857

C. $53,571

D. $11,842

Use the variables for the next two questions

Using ABC, the amount of setup cost allocated to job 1234 was:

A. $400

B. $500

C. $600

D. $700

Using ABC, the amount of inspection cost allocated to job 1234 was:

A. $400

B. $200

C. $300

D. $500

How many steps are in an ABM study?

A. 3

B. 4

C. 5

D. 6

Expert Solution

Ques: Which of the following is not a basis for developing a traditional overhead rate?

Ans: Number of settings.

Ques: A measure of an activity used to allocate a cost is a:

Ans: Cost Driver

Ques: Which of the following is not a primary focus of activity based management?

Ans: To measure the cost of producing a product.

Ques: Which of the following could be used to allocate factory rent?

Ans: Square footage occupied.

Ques: Service Department fixed costs should be allocated to productions departments based on:

Ans: Actual use of productions departments.

Ques: How many steps are in ABM study?

Ans: 6

Note: Calculation part questions are not given in presentable way to understand what figure represent what particulars. Provide same for the solution of remaining.

Ques: Which of the following is not a basis for developing a traditional overhead rate?

Ans: Number of settings.

Ques: A measure of an activity used to allocate a cost is a:

Ans: Cost Driver

Ques: Which of the following is not a primary focus of activity based management?

Ans: To measure the cost of producing a product.

Ques: Which of the following could be used to allocate factory rent?

Ans: Square footage occupied.

Ques: Service Department fixed costs should be allocated to productions departments based on:

Ans: Actual use of productions departments.

Ques: How many steps are in ABM study?

Ans: 6

Note: Calculation part questions are not given in presentable way to understand what figure represent what particulars. Provide same for the solution of remaining.

ekkarill92 answered 5 months ago

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