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Describe the likely stages involved in the design and operation of an Activity Based Costing system?
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∙ 15y ago
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True or false direct labor-hours or direct labor cost should not be used as a measure of activity in an activity-based costing system?
False
What type of companies would benefit using the activity based costing?
Following type of companies1) Those who want to perform better2) Those who want to be competitiveWhat specific types of companies would be better served with variable costing as opposed to absorption costing? Why?
What is the difference between budgetary control and standard costing?
Budgetary Control is projection of financial accounts and std. costing is a projection of cost accounts. Variances are shown in total in thhe former and a detailed analysis of variances is done in the latter. In std. costing, cost data ior each activity is pre-determined based on normal level of operaion.
What is difference between job costing contract costing?
job costing refers to very small work while contract costing refers to large work like building a bridge.
What is the difference between absorption costing and active base costing?
there is have some differeance . 1.
How would you describe activity based costing?
Activity-based costing is a form of cost refinement, designed to obtain greater accuracy than traditional allocations in cost assignments for product costing and decision-making purposes.
Differences between conventional costing methodology and activity costing?
difference between conventional costing methodology ang activity costing
Is Operation Costing and operating costing are synonymous?
no these are not synonymous terms
Company using absorption costing?
It is old costing technique & it is replaced by activity based costing
Activity-based costing is a means of more accurately accounting for direct labor cost?
False. Activity-based costing is used to allocate indirect cost into direct costs.Regardng direct cost, traditional costing is as appropriate as activity-based costing.
Define process costing its types features applications?
Job Order Costing Operation Costing Normal Costing Actual Costing Standard Costing Kaizen Costing Target Cost
What is the main difference between activity based costing and attribute based costing?
activity based costing does not promote TQM(total quality management) and continuous improvement but attribute based costing promotes the both.
Problem relating to the implementation of activity based costing and activity based management system?
Answering "Problem relating to the implementation of activity based costing and activity based management system
What is the differences between activity-based costing and traditional product costs?
In traditional costing, overheads are allocated using blanket rate while in activity based costing overheads are allocated by the activities performed.
How does activity based costing differ from traditional based costing?
Activity based costing has primary difference of allocation of overheads which are based on activities performed by any department while in traditional costing system overheads are allocated on predetermined rate which may be not very accurate.
Does Activity Based Costing produce an accurate costing picture?
Hi Activity Based Costing could be seen as the 'Cause-and-Effect' realtionship in the costs. If we extend this logic then we can segregate all the costs in four sections. a) Product Costs b) Customer Costs c) Business Sustaining Costs d) Cost available to use In this sense the Activity Basedd Costing gives an accurate costing picture.
Does Toyota use Activity based costing?
yes
