Activity cost pool - Study guides, Class notes & Summaries

Activity-Based Costing Exam Questions and Answers What is the process used to assign costs in an ABC system? - Answer-1. Identify the relevant cost object. 2. Identify activities. 3. Assign (trace and allocate) costs to activity-based cost pools. 4. For each ABC cost pool, choose a cost driver. 5. For each ABC cost pool, calculate an allocation rate. (Allocation rate = Activity cost / Volume of cost driver) 6. For each ABC cost pool, allocate activity costs to the cost object. (Allocatio...

the production budget correct answers Sales budget + ending finished goods inventory - beginning finished goods inventory direct materials production budget correct answers Production budget × direct materials per unit the direct materials purchases budget correct answers Direct materials production budget + ending direct materials inventory - beginning direct materials inventory Cash collected from customers correct answers (current period revenue × current period collection rate) + ...

Principles of Financial and Managerial Accounting - D196 WGU Questions and Answers 100% Pass the production budget - Answer- Sales budget + ending finished goods inventory - beginning finished goods inventory direct materials production budget - Answer- Production budget × direct materials per unit the direct materials purchases budget - Answer- Direct materials production budget + ending direct materials inventory - beginning direct materials inventory Cash collected from customers - A...

RMI 3567 Exam 2 Questions and Answers Already Passed What are three positive externalities that occurred due to access to terrorism insurance? 1. facilitates real estate transaction 2. strengthens businesses' ability to operate in risky areas 3. protects wealth/savings of households in risky areas Pollution from gasoline in a car or industrial pollution would be examples of what? negative externality This is the most common terrorism model for insurance risk pool What are the t...

Activity-Based Costing (ABC) - ANS A two-stage costing method in which overhead costs are assigned to products on the basis of the activities they require. Activity - ANS An event that causes the consumption of overhead resources. Activity Cost Pool - ANS A "bucket" in which costs are accumulated that relate to a single activity measure in an activity-based costing system. Activity Measure - ANS An allocation base in an activity-based costing system: ideally, a measure of ...

Commercial Real Estate SAE - Champion's School of Real Estate 495 Questions with Verified Answers Productivity Management - CORRECT ANSWER Measuring the results from the use of available systems and tools for prospecting activities CRM - CORRECT ANSWER Contact Relationship Manager, a tool used to automate prospecting tasks and manage leads Geographic farming - CORRECT ANSWER A particular area that may include neighborhoods that a sales agent or broker markets for the solicitation of bu...

Principles of Financial and Managerial Accounting - D196 WGU Questions and Answers 100% Pass the production budget - Answer- Sales budget + ending finished goods inventory - beginning finished goods inventory direct materials production budget - Answer- Production budget × direct materials per unit the direct materials purchases budget - Answer- Direct materials production budget + ending direct materials inventory - beginning direct materials inventory Cash collected from customers - A...

Which of the following is not typical of traditional costing systems? - ANSWER-Use of multiple cost drivers to allocate overhead. Value-added activities - ANSWER-all of the above. Which of the following is a batch-level activity? - ANSWER-Purchase ordering The use of activity-based costing in service industries - ANSWER-all of these. An "Ordering and Receiving Materials" cost pool would most likely have as a cost driver: - ANSWER-number of purchase orders. Which of the following...

Activity Based Costing Exam Questions and Answers Types of Activities: - Answer--Unit Level -Batch Level -Product Level -Facility Level Cost Pool Activity Rate (Equation) - Answer-Overhead assigned to pool ($) ------------------------------= Cost Pool Activity Rate ($/Unit) Number of Activities (units) How to allocate cost pools to cost objectives: - Answer-1. Determine cost pool activity rate 2. Apply to weighted cost objectives e.g. cost pool activity rate of $100, and cost obj...

OAR correct answersoverhead / activity ABC costing (activity-based) correct answersCost pool/ cost driver target costing correct answersTarget selling price - target profit Cost gap correct answersEstimated product cost - target cost Throughput correct answersSales revenue - material cost total factory cost correct answersFixed production costs, including labour Return per factory hour correct answersSales revenue - material purchases (VC) / time on key resources (bottleneck ho...