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mash [69]
3 years ago
13

Put the following ABC implementation steps in​ order: A Compute the allocation rates. B Compute the total cost of the products.

C Identify the products that are the cost objects. D Select the cost allocation bases.
Business
2 answers:
patriot [66]3 years ago
7 0

Answer:

The ABC steps in order is Option C, D, A, B

1. C) Identify the products that are the cost objects.

2. D) Select the cost allocation bases.

3. A) Compute the allocation rates.

4. B) Compute the total cost of the products

Explanation:

ABC Costing is a supplemental method of cost accounting that provides the decision-making information absent from traditional costing methods. While ABC costing is not limited by business unit boundaries, it can not fully supplant traditional costing methods as it often fails to meet financial reporting requirements for businesses.

ABC Costing focuses on costs contributing to production of a product. It does not attribute other general costs that do not have at least an indirect relationship to the product. While traditional costing systems focus on direct costs and burden a product with other fixed costs, activity based costing increases accuracy of indirect cost assignment.

jok3333 [9.3K]3 years ago
5 0

Answer:

D Select the cost allocation bases.

Explanation:

An allocation base OR cost allocation based is the foundation on which Cost accounting apportions the overhead costs. An allocation base can come inform of a quantity, such as the used machine hours, the consumed electricity kilowatt hours (kWh), or the square footage that is being occupied.

the ABC implementation step in order will be to select the cost allocation bases.

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The principal purpose of a statement of cash flows is to measure the profitability of a business that maintains its accounting r
Alexus [3.1K]

Answer:

False

Explanation:

The principal purpose of a statement of cash flows is to measure the profitability of a business that maintains its accounting records on the cash basis.

This is False because cash flows are also made for businesses that accounting records on the accrual basis rather than cash basis.

The cash flow is computed both by Direct and Indirect methods.

In indirect method of Cash flow Net income is computed using accrual income which recognizes revenues when earned and expenses when incurred.

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3 years ago
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A department adds raw materials to a process at the beginning of the process and incurs conversion costs uniformly throughout th
ruslelena [56]

Answer:

75,000 equivalent units

Explanation:

Calculation to determine What were the equivalent units of production for conversion costs for the month of March

First step is to calculate completed and transferred units

Completed and transferred units =5,000 + 70,000 − 25,000

Completed and transferred units = 50,000

Now let determine the equivalent units for direct materials cost

Using this formula

Equivalent units for direct materials cost =100% of the completed units + 100% of the ending inventory

Let plug in the formula

Equivalent units for direct materials cost= (50,000 × 100%) + (25,000 × 100%)

Equivalent units for direct materials cost=50,000+25,000

Equivalent units for direct materials cost=75,000

Therefore the equivalent units of production for conversion costs for the month of March is 75,000

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2 years ago
A party who has been induced to enter into an illegal contract because of fraud, duress, or undue influence can sue the other pa
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B. False is the right answer 
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3 years ago
What quickbooks task stores information about customers, vendors, employees, services, and more?
Rufina [12.5K]

List QuickBooks task stores information about customers, vendors, employees, services, and more.

vendors:

  • A vendor, sometimes referred to as a supplier, is a person or business that sells goods or services to another party in the chain of economic production.
  • A vendor is an individual or company that buys products and services from distributors and resells them to customers or other companies. Manufacturers, wholesalers, retailers, service and maintenance companies, independent vendors, and trade show representatives make up the five different categories of vendors.
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Learn more about vendors here brainly.com/question/24852211

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8 0
1 year ago
Margie has had a tough month.​ First, she had dental work that cost ​$700. ​Next, she had her car transmission​ rebuilt, which c
motikmotik

Answer:

Calculate amount of annual interest:

The simple interest rate is the percentage of the credit that should be paid as interest on yearly basis. The amount of interest should be paid per year on a loan.

Miss. Margie has spent $700 for dental work and $1,400 for car transmission rebuilt. She has made both transactions on her credit card. If she does not pay credit balance of $2100, she will be charged 21 percent interest.

Calculate the annualized interest expenses.  

Miss. Margie should pay annual interest if she does not pay off credit card balance. She has a credit balance of $2100. The interest rate on credit balance is 21 percent.

Annual Interest = Amount owned x Interest rate

Annual Interest = 2,100 x 0.21  

Annual Interest = 441

Annual interest on credit card balance is $441

Money market investment is a high-liquid, and short term securities containing commercial paper. Treasury bill, banker's acceptance, promissory note.

Calculate the amount of interest received on money market investment. Miss. Margin has a money market account with $15.000. On this account she receives 3 percent interest.

So, the total interest earned on a money market account is:

Annual Interest = Amount x Interest rate

Annual Interest = 15,000 x 0.03

Annual Interest = $450

Miss. Margin has got $450 as annual interest on money market account of $15000 with the interest rate of 3 percent.

To calculate the amount of annual interest, she should write a check of 2,100 for pay off credit card balance, a money market account shows the balance of 12,900. The interest rate is 3 percent.

Annual interest = Amount x interest rate

Annual interest = 12,900 x 0.03

Annual interest = $387

If she should write the check out of her money market account she gets interest of $387.

So, she will lose the interest of $63

Miss. Margin should write the check'. She is able to cover credit card bill from money market account. It is always better to payoff credit card bill in full from income or saving than to pay credit card balance with interest on due balance.

If she pays credit card due balance from money market account, she will not have to pay interest charges

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3 years ago
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