'9) Which of the following is true with activity based cost accounting? A) Activity-based costing ignores the allocation of marketing and distribution costs. B) Activity-based costing is more likely to result in major differences from traditional costing systems the firm manufactures only one product rather than multiple products. C) The focus is on activities that account for a sizable fraction of indirect costs. D) Chances of product-cost cross-subsidization are higher in activity-based costing compared to traditional costing systems.' Show 17) Which of the following statements is TRUE regarding activity-based costing systems?A) ABC systems accumulate overhead costs by departments.B) ABC costing systems are less complex and, therefore, less costly than traditionalsystems.C) ABC costing systems can be used in manufacturing firms only.D) ABC costing systems have multiple indirect cost allocation rates for each activity.E) ABC systems provide a greater level of detail to understand how an organization uses itscommon inputs differently for distinct products.Answer:EDiff: 1Type: MC Skill:UnderstandObjective:LO 5-318) When using activity-based costing in a manufacturing setting, its distinctive feature isthe focus onADiff: 1Type: MC Get answer to your question and much more Skill:RememberObjective:LO 5-319) Which of the following statements about activity-based costing is TRUE?DDiff: 1Type: MC Get answer to your question and much more Skill:RememberObjective:LO 5-3 Get answer to your question and much more 39. Costs at the unit-level of activity should be allocated to products using cost drivers that are: Get answer to your question and much more 40.Activity-based costing for manufacturing operations is used to assign: Get answer to your question and much more 41.Which of the following is a benefit of activity-based costing? Get answer to your question and much more 42. Successful activity-based costing (ABC) implementation depends upon the firm: Get answer to your question and much more 43. When gathering activity data, which of the following would not be a question that ABCproject team members typically ask employees or managers? Get answer to your question and much more 44.All of the following are low-value-added activities except: Get answer to your question and much more 45. Overhead costs are allocated to cost objects in an activity-based costing system in thefollowing manner: Get answer to your question and much more 46.Volume-based rates produce inaccurate product cost when: Get answer to your question and much more 47.National Inc. manufactures two models of CMD that can be used as cell phones, MPX, anddigital camcorders.ModelAnnual Sales in unitsHigh F10,000Great P16,000National uses a volume-based costing system to apply factory overhead based on direct labordollar. The unit prime costs of each product were as follows:High FGreat PDirect Materials$ 38$ 25.40 Which of the following statements is true regarding activity-based costing systems?
 Q: Which of the following statements is true of activity-based costing? O a. ABC ignores the allocation… A: Activity based costing represents the costing method where the company identifies the cost pools and… 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: What are the advantages and disavantages of the traditional, activity based costing, and multiple… A: Cost: It is the economic value of resources incurred by a firm to manufacture a product or render… Q: Which of the following factors is NOT considered to have influenced the development of… A: Activity-based costing is a method to allocate the overhead and indirect cost to products and… Q: In order to determine product costs, JIT firms are usually structured so they can use: a.joint… A: See the answer below: Q: If the activities that generate overhead costs vary between departments and products, adopting a… A: The Answer Q: Which of the following statements is false? (You may select more than one answer.)a. Activity-based… A: Click to see the answer Q: Which of the following is NOT true? Multiple Choice Activity-based costing allocates some… A: Activity based costing allocates the overhead costs to different cost drivers on the basis of… Q: When activity-based costing is used, why do manufacturing overhead costs often shift from… A: Click to see the answer Q: When activity-based costing is used, why do manufacturing overhead costs often shift from… A: Under activity based costing, manufacturing overhead is explained as expenses which has direct… Q: Which of the following is not a step involved in activity-based costing? Select one O a Compute a… A: Activity-based costing: It is a method that helps in finding the activities performed by a company… Q: Which of the following best defines standard costing? a. It is the same as actual costing but… A: The method of calculating the cost of a manufacturing process is known as standard costing. It's a… Q: Which of the following statements is false? Cost allocations such as activity-based costing allow… A: Activity-Based Costing: Activity-Based Costing method is generally used to allocate the overhead… Q: Which TWO of the following statements about activity-based costing (ABC) are true? a. Implementation… A: Activity-based costing suitable when: A variety of products are created Overhead accounts for a… Q: Which of the following points about the Activity-based costing (ABC) system is NOT a correct… A: Using activity based costing, the overheads rate is determined for different activities on the basis… Q: Please explain the statement below (T/F) thoroughly with examples illustrating the answer. "In… A: in Activity-based costing many numbers of cost pools. In activity-based costing, a product margin… Q: 1. If management wants the most accurate product cost, which of the following costing methods should… A: Costing method refers to the way of calculating the total cost of a final product. It is a tool in… Q: What system would a manufacturer of unique special orders or batch processes most likely use to… A: Cost accounting is very important area of accounting, which helps in accounting of various types and… Q: Which of the following items is not a characteristic of a process cost system? The products produced… A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,… Q: Which of the following items is not a characteristic of a process cost system? The products produced… A: Process accounting means a method where raw material is added in different process and output of one… Q: Which of the following items is not a characteristic of a process cost system? The products produced… A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,… Q: Which of the following items is not a characteristic of a process cost system? The products produced… A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,… Q: Which of the following statements is true with regard to activity-based costing? Multiple Choice… A: The overhead is applied to the production using various methods as traditional costing and activity… Q: Why would a business that uses traditional costing systems consider implementing activity-based… A: Cost-volume profit analysis is a tool that helps in decision making by establishing a relationship… Q: Which of the following types of companies would be most likely to benefit from activity-based… A: activity-based costing - generally, activity-based costing is used to allocate indirect costs or… Q: Please explain thoroughly with examples. Which statement(s) is True/False and why? If none are true,… A: Cost accounting is the method which followed by a manufacturing business in order to estimate the… Q: Activity-based costing is preferable in a system when multiple products have similar product… A: Under activities based accounting, the overhead cost is applied to different activities differently.… Q: Which of the following statements is not false of costing systems? A. Activity-based costing… A: Introduction: Traditional costing is the more simplest method which typically delivers less accuracy… Q: Write an executive summary on the following with illustrative examples and applications. A.… A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question… Q: Companies that produce a variety of products need a costing system that allocates costs based on the… A: Companies that produce a variety of products need a costing system that allocates costs based on the… Q: Which of the following points about the Activity-based costing (ABC) system is NOT a correct… A: S. No. Particulars Reason a. ABC may generate results that are not suitable for… 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: Explain the concept of operation costing. How does it differ from process or job-order costing? Why… A: Click to see the answer Q: Traditional Volume-based costing allocates indirect product costs based on the volume of output,… A: Note: Hello. Since your question has multiple parts, we will solve the first question for you. If… Q: Which of the following statements best describes why the use of a single plantwide rate to allocate… A: SOLUTION FORMULA = PLANTWIDE OVERHEAD RATE = TOTAL OVERHEAD / DIRECT LABOR HOURS. Q: Which of the following is a hybrid costing system that applies to batches of 1. like or similar… A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question… Q: Which of the following statements is false? (You may select more than one answer.)a. In recent… A: Manufacturing Overhead cost mean costs apart from direct costs i.e. those indirect costs which are… Q: Are the concepts underlying a relevant-cost analysis still valid in an advanced manufacturing… A: Activity-based costing: It is a method that helps in finding the activities performed by a company… Q: The primary difference between variable costing and absorption costing is a. in variable costing,… A: Click to see the answer Q: Explain the Over head cost control benefits and drawbacks in manufacturing unit. A: Cost accounting: A branch of accounting that deals with the calculation of the total cost incurred… Knowledge Booster Learn more about Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below. SEE MORE QUESTIONS Recommended textbooks for you Cornerstones of Cost Management (Cornerstones Ser... ISBN:9781305970663 Author:Don R. Hansen, Maryanne M. Mowen Publisher:Cengage Learning Principles of Accounting Volume 2 ISBN:9781947172609 Author:OpenStax Publisher:OpenStax College Financial And Managerial Accounting ISBN:9781337902663 Author:WARREN, Carl S. Publisher:Cengage Learning, Managerial Accounting ISBN:9781337912020 Author:Carl Warren, Ph.d. Cma William B. Tayler Publisher:South-Western College Pub Principles of Cost Accounting ISBN:9781305087408 Author:Edward J. Vanderbeck, Maria R. Mitchell Publisher:Cengage Learning Managerial Accounting: The Cornerstone of Busines... ISBN:9781337115773 Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger Publisher:Cengage Learning Cornerstones of Cost Management (Cornerstones Ser... ISBN:9781305970663 Author:Don R. Hansen, Maryanne M. Mowen Publisher:Cengage Learning Principles of Accounting Volume 2 ISBN:9781947172609 Author:OpenStax Publisher:OpenStax College Financial And Managerial Accounting ISBN:9781337902663 Author:WARREN, Carl S. Publisher:Cengage Learning, Managerial Accounting ISBN:9781337912020 Author:Carl Warren, Ph.d. Cma William B. Tayler Publisher:South-Western College Pub Principles of Cost Accounting ISBN:9781305087408 Author:Edward J. Vanderbeck, Maria R. Mitchell Publisher:Cengage Learning Managerial Accounting: The Cornerstone of Busines... ISBN:9781337115773 Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger Publisher:Cengage Learning Which of the following is true for activityWhich of the following is true about activity-based costing? Explanation: ABC assumes that the resource-consuming activities that generate costs are activities and not outputs. ABC is appropriate for all types of cost accumulation systems, including both job order and process costing.
Which of the following statement is not true in respect of activityAnswer and Explanation: 1. Option (b) an activity- based costing system first assigns or traces costs to the departments in which pro ducts are made is the incorrect option...
Which is not usually associated with activityAnswer and Explanation: The correct answer is C. Preparation of allocation matrices.
Which of the following is not true about the benefits and costs of activityThe answer is (c) It requires few calculations to determine the costs of products and services.
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Which of the following is not true regarding activity-based costing (abc) systems?
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