Chapter 7 Review_student version1

Paul company has two pro..accounting question

Paul Company has two products: A and B. The company uses activity-based costing. The estimated total cost and expected activity for each of the company's three activity cost pools are as follows: Activity Cost Pool Activity 1 Activity 2 Activity 3 Estimated Cost a. $28.87 O b. $19.47 C. $58.40 O d. $70.45 $22,000 16,240 14,600 Expected Activity Product B Product A 400 380 500 100 200 250 Total 500 580 750 The activity rate under the activity-based costing system for Activity 3 is closest to which of the following?

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Question 3?

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Problem 3. Abraham Company uses activity-based costing. The company has two products: A and B. The annual production and sales of Product A is 200 units and of Product B is 1,000 units. There are three activity cost pools, with total costs and activity as follows: 000 à 000 Activity Cost Pool Activity 1 Activity 2 Activity 3 Total Cost $10,485 $35,264 $26,395 Product A 300 1,600 60 Total Activity Product B 200 300 400 Total 500 1,900 460 a) What is the total overhead cost allocated to Product B under activity-based costing? b) What is the overhead cost per unit of Product B under activity-based costing?

Your Company has two products: A and B. The company uses activity-based costing. The estimated total cost and expected activity for each of the company's three activity cost pools are as follows: Estimated Expected Activity Activity Cost Pool Cost Product A Product B Total Activity 1 $17,600 700 300 1,000 Activity 2 $32,600 600 200 800 Activity 3 $52.500 900 500 1,400 What is the activity rate under the activity-based costing system for Activity 1? O $17.60 $58.33 O $37.50 $40.75. O $25.14

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Scarborough Company has two products: C and D. The company usesactivity - based costing. The estimated total cost and expected activity foreach of the company's three activity cost pools are as follows:Expected ActivityActivity Cost Pool Estimated Cost Product C Product D TotalActivity 1 S17, 848 S17, 848 100 800Activity 2 S16,350 618 150 768Activity 3 S22, 185 842 120 962How much of Activity 1 is expected to be allocated to Product C? Multiple Choice   S22, 310.00S17, 848.00S15, 617.00S2, 231.00

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The Company has two products: X and Y. The company uses activity-based costing. Theestimated total cost and expected activity for each of the company's three activity cost pools areas follows:   Estimated   Expected Activity   Activity Cost Pool Cost Product X Product Y Total Activity 101 £33,600 100 700 800 Activity 102 £44,000 200 800 1,000 Activity 103 £68,600 500 600 1,100 The activity rate under the activity-based costing system for Activity 103 is closest to: A. 62.36 B. 50.42 C. 114.34 D.132.90

Balestier Company has two products: A and B.  The company uses activity-based costing.  The total cost and activity for each of the company's three activity cost pools are as follows:     Estimated Expected Activity Activity Cost Pools Overhead Cost Product A Product B Product design $32,600 700 300 Assembling $17,600 600 200 Supporting customers $52,500 400 100   The total overhead cost assigned to Product A under activity-based costing is closest to: Question 12 options:   1)  $78,020   2)  $102,700   3)  $54,380,000   4)  $207

Question: Pat Company uses activity-based costing. The company has two products: A and B. The annual production and sales for Product A is 1,800 units and for Product B it's 1,050 units. There are three activity cost pools, with estimated costs and expected activity as follows: Activities Estimated Expected Activity Overhead Cost Product A Product Total B Activity 1 $46,775 1,300 1,200 2,500 Activity 2 $68,277 2,300 1,000 3,300 Activity 3 $82,502 The overhead cost per unit of Product A under activity-based costing is closest to: 720 700 1,420 A. $139.12 B. $68.28 C. $32.88 D. $63.19

Question 1 XYZ Ltd. currently make and sells four products. They provide you with their details and relevant information for one period in the following table. As you have recently just learnt about activity-based costing (ABC) you decide to experiment by applying the principles of ABC to the four products. Product Outputs in Units Cost per unit Direct material Direct labour Machine hours (per unit) 4 A B C D 120 100 80 120 (£) (£) (£) (£) 40 50 30 60 28 21 14 21 3 2 3 The four products are similar and are usually produced in production runs of 20 units and sold in batches of 10 units. The production overhead is currently absorbed by using a machine hour rate, and the total of the production overhead for the period has been analysed as follows: Machine department costs (rent, business rates, depreciation and supervision) Set-up costs Stores receiving Inspection/Quality control Material handling and dispatch £10,430 £5,250 £3,600 £2,100 £4,620 Question continues on next page You have…

12 Lavender Company uses activity-based costing. The company has two products: A and B. The annual production and sales of Product A is 1,500 units and of Product B is 3,000 units. There are three activity cost pools, with estimated total cost and expected activity as follows:  Expected Activity Activity Cost Pool Estimated Cost Product A Product B Total Activity 1 $10,000 420 350 770 Activity 2 12,000 120 420 540 Activity 3 50,000 490 1,162 1,652   The cost per unit of Product B under activity-based costing is closest to which of the following?   Select one: a. $16.35 b. $35.38 c. $24.10 d.  $31.90

Question 10?

Answer the question Question 3 Company A uses a traditional system in costing its products. Using this system, the company allocates all indirect production costs to products in proportion to their direct labour costs. However, recently the company has been contemplating in switching to an Activity-Based Costing (ABC) system. www Three products are produced: X, Y and Z. Direct costs, indirect costs and cost-driver activity for each product for a recent month are as follows: Y Z Direct-materials cost RM20,000 RM 4.000 50,000 RM45,000 RM120,000 RM 1,000 RM 3,000 150,000 Direct-labour cost Vo ww Kilowatt hours 200,000 Number of inspections 13 5 Cost Driver Activity Materials handling Quality inspection Electricity energy Total indirect production costs Indirect production cost RM10,000 RM20,000 RM20,000 RM50,000 Direct-materials cost Number of inspections Kilowatt hours Required: (a) Compute the total indirect production cost allocated to X, Y and Z using the current traditional costing…

Question: Ayala Inc. has conducted the following analysis related to its product lines, using a traditional costing system (volume-based) and an activity-based costing system. Both the traditional and the activity-based costing systems include direct materials and direct labor costs. Total Costs Sales Revenue Traditional ABC Products Product 540X $180,000 $55,000 $50,000 Product 137Y 160,000 50,000 35,000 Product 249S 70,000 15,000 35,000 For each product line, compute operating income using the traditional costing system: Product 540X $ Product 137Y $ Product 249S $

Required: c. Determine the product margins for each product using activity-based costing.

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Question 2 A. B. C. How does Activity-Based Costing differ from traditional costing? Identify any TWO (2) advantages and any TWO (2) limitations of Activity-Based Costing. (4 marks) McNish Enterprise manufactures and sells two products, Standard and Premium. The company uses the activity-based costing system to allocate its overhead costs. The following information has been collected relating to the SIX (6) overhead activities: Activity Purchase Orders Quality Control Material Handling Setup Cost Cost $ 400 500 $ 275 000 $ 150 000 $ 50 000 $ 125 000 $ 240 000 $1240 500 The activity-based usage quantities for each product are as follows: Production Scheduling Procurement Number of Setups Orders 900 1 600 (2 marks) Number of Inspection 500 500 Number of Orders Executed Standard 300 750 Premium 200 1 250 Total 500 2.500 2 000 1 000 The company produces 5 000 units of Standard and 4 000 units of Premium calculated in (i.) above. iii. Calculate the unit cost for each product. Required: i.…

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Answer

Your Company has two products: A and B. The company uses activity-based costing. The estimated total cost and expected activity for each of the company's three activity cost pools are as follows:                Estimated Expected Activity       Activity Cost Pool  Cost Product A Product B Total       Machine related          $17,600 700 300 1,000 MH   Batch setup     $32,600 600 200 800 Setups   Other   $52,500 900 500 1,400 DLH                                        What is the activity rate under the activity-based costing system for Batch setups? Group of answer choices $54.33 $40.75 $40.75 per Setup $16.30 $16.30 per Setup $54.33 per Setup

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