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The manufacturing division of an electronics company uses activity-based costing. The company has identified three activities and the related cost drivers for indirect production costs.Activity Cost DriverActivity 1 Direct materials costActivity 2 Direct labor costActivity 3 Kilowatt hoursThree types of products are produced. Direct costs and cost-driver activity for each product for a month are as follows:
Product A Product B Product CDirect materials cost $75,000 $50,000 $125,000Direct labor cost $6,000 $1,000 $3,000Direct labor hours 1,000 500 1,500Kilowatt hours 150,000 200,000 150,000Indirect production costs for the month are as follows:Activity 1 $12,000 Activity 2 20,000 Activity 3 16,000 Total $48,000Required:A) Compute the indirect production costs allocated to each product using the ABC system.B) Compute the indirect production costs allocated to each product using a traditional costing system.Assume indirect production costs are allocated to each product using the cost driver: direct labor hours
Slash and Burn is a monopolist that can sell its output at these prices and with these total costs: Output Price Total Cost
Average costing method has the following main advantages: 1.It is a realistic costing method useful to management in analyzing operating results and appraising future production
wont questions on it and a valuable answer
Direct Material Cost Variances (DMCV) This variance is a general difference in the standard direct material cost and the actual direct material cost. This variance may be prese
Dropping a segment - George's Grill analyzes profitability of three operating units: restaurant, bar, and billiards room. Revenues, variable costs, and attributable fixed costs (wh
How would I calculate the debt amortization for a bond issued at discount with a maturity of 12 years, market interest rate at issue 10% annually, 5% semi annually, and has a state
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Piece Rate System - Labour Remuneration However an employee is paid a fixed amount for all units produced irrespective of time in use; the wages payable are computed like fo
Advantages and Disadvantages of Uniform Costing Advantages 1. It enables costs to be compared simply 2. It makes it easier to computerize the accounting system of d
MARGINAL COSTING IS PREFERRED TO ABSORPTION COSTING IN DECISION MAKING WHY
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