12. Using the ADU What percentage is assigneu requirement 11? Why? 13. Using the ABC system, what percentage of MacHlIlIU foduc What percentage is assigned to Product Z? Are these percentages similar to those obtained 14. Using the ABC system, what percentage of the Product Design cost is assigned to Producty What percentage is assigned to Product Z? Are these percentages similar to those obtained requirement 11? Why? 15. Using the ABC system, what percentage of the General Factory cost is assigned to Producty requirement 11? Why? What percentage is assigned to Product Z? Are these percentages similar to those obtained requirement 11? Why? cises E Connect Graw JACCOUNTING All applicable exercises are available with McGraw-Hill's Connect® Accounting. EXERCISE 7-1 ABC Cost Hierarchy [LO7-1] The following activities occur at Greenwich Corporation, a company that manufactures a vei variety of products. Receive raw materials from suppliers. a. b. Manage parts inventories. Do rough milling work on products. d. Interview and process new employees in the personnel department. C. Design new products. f. e. Perform periodic preventive maintenance on general-use equipment. g. Use the general factory building. h. Issue purchase orders for a job. Required: Classify each of the activities above as either a unit-level, batch-level, product-level. organization-sustaining activity. EXERCISE First

Q: 9) Which of the following statements about normal costing is true?   A) Direct costs and indirect…

A: Introduction:- Under the normal costing :- It assign costs to products based on the materials,…

Q: Matching terms Match each term to the correct definition.

A:

Q: 22- The market driven cost that is computed before a product is produced is known as: a. Target cost…

A: Target Cost is a market driven cost that is computed before producing a product. It is the cost that…

Q: 4. Using the activity-based product costs as the standard, comment on the ability of departmental…

A: 1. Calculation of overhead cost per unit for each product using a plantwide rate based on direct…

Q: Which of the following statements regarding life-cycle costing are correct?

A: Life cycle Costing the approach that accounts for costs of a product right from the introduction…

Q: 19) For internal decision-making purposes, many companies use the income statement using the…

A: Solution Concept The contribution approach is a method where the contribution generated by a product…

Q: Traditionally indirect cost like overheads were distributed to end products on the assumption that…

A: Traditionally indirect cost like overheads were distributed to end products on the assumption that…

Q: 1. Indirect costs can be allocated to a cost centre if they: A. Can be identified wholly with the…

A: • Indirect Cost are such cost which cannot be directly traced to individual products. Example:…

Q: Target costing starts with: a. Cost price of the product b. Estimated selling price of the product…

A: Solution: Target costing starts with "Estimated selling price of the product".

Q: When using the NRV method, what is the approximate amount of joint costs that will be allocated to…

A: Step 1 Joint Cost on NRV which is on the basis of proportion to Net Realizable value = Sales –…

Q: Which of the following material issue pricing method considers the prices as well as the quantities…

A: Solution: "Weighted average method"  considers the prices as well as the quantities of materials…

Q: What is target cost per​ unit?       Question content area bottom

A: Target cost is the cost which is sufficient to develop specified functionality and quality of a…

Q: The term "relevant range" as used in cost accounting means the range over which     a. Cost…

A: Introduction: Cost Accounting: Cost Accounting is for internal users. Cost accounting is for…

Q: The calculation to determine target cost is

A: Target costing is a cost accounting approach in which companies set targets for cost based on the…

Q: 6. When using the NRV method, what is the approximate amount of joint costs that will be allocated…

A: “Since you have posted a many questions, we will solve first question for you. To get the remaining…

Q: sed on your analysis in requirement 1, which product or products should be sold at the split-off…

A: A split-off point occurs when formerly jointly created components are now manufactured separately,…

Q: 9. What amount should be considered product cost for external reporting purposes? 10. What is the…

A: Cost accounting is part of accounting that records cost-related transactions. It is mainly used…

Q: Match the terms a through d with their correct definition 1 through 4. a. Standard cost card b.…

A: Definition: Costing: For determining various costs costing is used. To derive the cost of production…

Q: Explain the purpose of a standard cost sheet 2.  Explain how unit standards are set and why…

A: "Since you have posted multiple questions, we will solve the first question for you. To get the…

Q: How do I verify that Harlows actual cost figures are correct?

A: Total Cost=Direct material+Direct labor+Variable Overhead+Fixed Overhead

Q: The cost that can be directly identified with a cost unit/centre and can be allocated to that cost…

A: Cost of production = Direct manufacturing costs + Indirect manufacturing costs   Indirect costs =…

Q: Identify the false statement from the following: a. All of these b. Overheads are assigned to…

A: Cost accounting can be defined as a managerial accounting that helps in recording and reporting…

Q: 17) Target costing sets prices by computing an average cost and then adding a desired markup.

A: Target costing is a method adopted by the management to determine product cost and to use such cost…

Q: carrying cost?

A: Which one of the following is a carrying cost Correct answer :-  Cost of obsolescence.

Q: Determine the I target cost for model J 20, assuming that the historical markup on product cost and…

A: (a) Current sale price = $575 Product cost = $460 Calculation of historical mark up % on selling…

Q: - Which of the following is the cost method used by companies that produce different products in…

A: Introduction Cost method are used by the entity to estimate the cost of products on a certain…

Q: LO 6.2ldentify appropriate cost drivers for these cost pools: A. setup cost pools B. assembly cost…

A: Cost Drivers: The direct cause of a cost is referred to as a cost driver. Fixed costs do not change,…

Q: What is the amount of Inspection cost assigned to Product X? Multiple Choice $31,900 $42,340…

A: Formula : Inspection cost assigned to product = number of batches as an activity driver x rate of…

Q: What is the joint cost allocated to product Alt if the company employs physical method? P333,333…

A: Joint cost means the cost incurred to produce more than one units and then joint cost need to be…

Q: When using a standard cost system what term is referred to what a product does cost? Group of answer…

A: Standard cost is the term used for the product should cost.  Actual cost is the term for the product…

Q: 6) Using activity-based costing method, how much is the cost driver rates for shipping? 7) Using…

A: ABC costing is allocating the overhead cost based on the activity used in manufacturing products. It…

Q: What are the product costs per unit associated with Product DCT121? A) $137 B) $140 C) $143 D) $88

A: Please find the answer to the above questions below:

Present Value

Present value (PV) is defined as the current or present value of all future sums of cash flow or money at a specified rate of return. This rate of return is known as the discounted rate, which is essentially the interest rate, discounted over some time. The expected cash flows are discounted at a discount rate to compute the present value. The higher the discount rate, the higher the future value (FV), but the lower the present value.