The ABC system improves the allocation of​ ________.   A. direct materials   B. sales commissions   C. indirect manufacturing costs   D. direct labor

Q: Product costs are also called Select one: O a. Indirect material costs. O b. Indirect Labor costs. O…

A: Cost are basically divided between two category: 1. Product Costs 2. Period costs

Q: Product costs are expensed Group of answer choices When the product unit cost is calculated. When…

A: Solution: Product costs is capitalized in inventory when same is produced. However when products are…

Q: Direct labor is included in the computation for the cost classified as     Group of answer choices…

A: Prime cost = Direct material + Direct labor Product cost = Direct material + Direct labor +…

Q: Classifying costs Classify each cost by placing an X in the appropriate columns. The first cost is…

A: Product costs: Product costs are the costs which are incurred in the production of the goods. These…

Q: Choose the most appropriate answer(s): Direct manufacturing labor costs is added into manufacturing…

A: Direct labour costs are those costs of labour which is directly engaged in production of goods and…

Q: From the choices presented in parentheses, choose the appropriate termfor completing each of the…

A: Cost accounting is a special branch of accounting in which costs are seen or accounted for.

Q: 1. Which of the following is a hybrid costing system that applies to batches of like or similar…

A: Note : As per answering guidelines only first question need to be answered However i answered…

Q: Selling and administrative expenses are considered to be: a. A period cost under variable costing b.…

A: Selling  expenses means the expense incurred while selling the goods like sale men commission , sale…

Q: Which of the following statements is true? Multiple Cholce Varlable costing treats direct materials…

A: The period costs are the costs which are expensed in the period they are incurred. Example selling…

Q: Terms used in manufacturing cost systems are: manufacturing costs prime costs conversion costs both…

A: Manufacturing cost refers to the total cost incurred by the entity to manufacture a product. It…

Q: Which of the following statements is true of activity-based costing? O a. Activities are the cost…

A: Activity based costing is a type of costing system in which all indirect costs or overhead costs are…

Q: Consumption ratios are useful in determining: A. the existence of product-line diversity. B.…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: Conversion costs consist of: O a direct labor and manufacturing overhead O b. direct and indirect…

A: Prime costs consists of direct material and direct labor, While conversion costs consist of direct…

Q: Under-allocated manufacturing overhead costs are always the result of which of the following…

A: Under Allocated manufacturing overhead occurs when Applied overhead are less than the actual…

Q: Comparison between ABC and Traditional costing

A: Traditional costing is also written as volume based costing. Under this method, overheads are…

Q: When determining the cost of a manufactured good under an operation-costing system, a company would:…

A: as per operating costing system cost of goods manufactured is computed by taking  direct material…

Q: An allocation base! O a. is a measure used to assign prime costs to products and services O b.…

A: An allocation base is the basis on which Cost accounting allocates overhead costs.  An allocation…

Q: concerning ABC (activity-based costing) and ABM (activity-based management):          i.   ABM…

A: ii.  ABC cannot be used in the service industries    iii. ABC is used in conjunction with ABM…

Q: ABC systems Select one a. will limit cost drivers to units of output O b.comply with CAAP c…

A: ABC system is used to control the inventory. Materials are classified as A, B and C according to…

Q: Overhead Cost total includes: a. Indirect tools used b. Indirect Commision paid c. Indirect…

A: Solution Overhead cost                 The cost which are not directly attributable to the…

Q: The following statements are correct except? A. ABC eliminates issues of over or under absorption B.…

A: Overhead means the cost incurred indirect in factory for the production of goods. Manufacturing…

Q: Which one of the following are NOT period costs? a)  Advertising costs. b)  Indirect materials.…

A: Product cost are the costs that are directly or indirectly related to production. Direct Costs…

Q: Appropriate base to allocate purchase department cost to different products is? A. Machine Hour B.…

A: Absorption costing involves allocation of production expenses to product based on a parameter

Q: Which of following is not correct about normal costing? Select one: O a. Product cost includes the…

A: Option a (Product cost includes the applied indirect manufacturing cost) is not correct about normal…

Q: b) Calculate the total production cost and cost per unit for arms and brackets using the…

A: Activity based costing is a costing method in which all indirect or overhead costs are allocated on…

Q: Which of the following is not considered a product cost? Select one: a. direct labor b. direct…

A: Product cost includes all the cost incurred to manufacture the product.

Q: Manufacturing costs include selling and administrative costs. Select one: O a. TRUE O b. FALSE

A: Manufacturing cost: It is a cost incurred for the production of a product like Direct labor, direct…

Q: 1. Match one or more of the following terms with each definition below: Inventoriable product costs…

A: The given terms in the questions should be matched with definitions given below.

Q: Allocate the common cost to Factory, Sales, and Administrative with a solution

A: given           total costs factory sales administrative utilities 25000 60% 10% 30% taxes…

Q: Required: 1. Assume that the company uses absorption costing. a. Calculate the unit product cost. b.…

A: The company uses absorption costing as follows: Unit product cost as follows: Income statement for…

Q: When factory overheads are added to prime cost then the result will be. a. Cost of material consumed…

A: Prime cost = Direct material + Direct labor Conversion costs = Direct labor + factory overheads Cost…

Q: tatement is true or false, and correct the false tatement(s): Manufacturing cost is called period…

A: Manufacturing cost is the cost incurred to manufacture units . It includes direct material , direct…

Q: fit - Expenses = aterials Direct Labor = Manufacturing Costs = Cost of Goods Manufactured : WTD

A: As per rule, allowed to answer one question at a time and post the remaining in the next submission.

Q: Support department costs are applied to products as a part of a.fixed manufacturing costs b.fixed…

A: Support department costs are the costs incurred in the support department which are allocated to the…

Q: Direct labour cost is an element of_________ a. All of the given options b. Prime cost c. Conversion…

A: A direct labor cost is referred to as the wages that are incurred directly to produce the goods or…

Q: Which of the following correctly describes the term cost driver? a.The primary factor which is…

A: Cost driver is the driver cause of which the cost is incurred. On the basis of this we find the…

Q: Under which costing system non-manufacturing costs may be included in ?calculating product costs…

A: There are different types of costing systems namely activity based costing system, absorption…

Q: Which one is a controllable cost? Select one: O a. Office salary Ob. Rent Factory O c Office Rent O…

A: Controllable costs are those costs which can be controlled by the business.

Q: List and explain in your own words the of product costs(manufacturing overhead)

A: Costs are that amount which is incurred during the production of goods and services. The costs which…

Q: a) Calculate the product cost using a Traditional and ABC approach. b) Discuss and analyse…

A: Cost per unit under Traditional costing system: Particulars Product A Product B Product C Product…

Q: The most important element of cost in manufacturing industries is Select one: O a. Labor O b.…

A: The cost of the manufacturing industries includes the cost which is involved in the production…

Q: Select one: a. The balance in the Work-in-Process account after allocation will be higher if the…

A: Underapplied overhead occurs when a business’s expenses have increased than the budgeted expenses.…

Q: Which one is a controllable cost? Select one: O a. Office salary O b. Cost of Raw material O c. Rent…

A:

Q: Which of the following statement(s) islare correct? I. Manufacturing overhead includes all…

A: Answer) The correct answer in the given question is: (D) Neither I nor II

Q: Conversion costs include direct labor and manufacturing overhead. Select one: O a. FALSE O b. TRUE

A: Conversion costs: It is sum total of direct manufacturing labor costs and manufacturing overhead…