BEC Cost Accounting review 4

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Joens1313
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300962
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BEC Cost Accounting review 4
Updated:
2015-04-16 23:32:29
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BEC Cost Accounting review
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BEC Cost Accounting review 4
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  1. What is Activity Based Costing?
    Activity based costing follows the idea that products consume activities.  The idea is to assign costs to activities performed in an organization and then assign them to products according to each products use of the activities
  2. ------------------------- costing follows the idea that products consume activities.  The idea is to assign costs to activities performed in an organization and then assign them to products according to each products use of the activities
    Activity based costing follows the idea that products consume activities.  The idea is to assign costs to activities performed in an organization and then assign them to products according to each products use of the activities
  3. What are cost drivers?
    cost drivers are used to reflect the consumption of costs by activities and products.
  4. ---------------------- are used to reflect the consumption of costs by activities and products.
    cost drivers are used to reflect the consumption of costs by activities and products.
  5. The ------------------- is the most appropriate cost driver for distributing fixed costs based on the physical location of activities and products.
    The occupancy group is the most appropriate cost driver for distributing fixed costs based on the physical location of activities and products.
  6. What is a cost center?
    The lowest level of detail for which costs are accumulated and distributed and can consist of a single activity or group of activities.
  7. A ---------------- is the lowest level of detail for which costs are accumulated and distributed and can consist of a single activity or group of activities.
    The lowest level of detail for which costs are accumulated and distributed and can consist of a single activity or group of activities.
  8. When does product diversity occur?
    this occurs when products consume activities and inputs in different proportions.
  9. When does material diversity occur?
    This occurs when products having materials that take longer to process consume a disproportionate share of the unit level inputs.

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