Rex Industries has two products. They manufactured 12,539 units of product A and 8,254 units of product B. The data are: Activity in Cost Pool Estimated Overhead Product A Product B 1 $45,900 1,000 500 2 67,300 200 800 3 25,200 600 5,400 PLEASE NOTE: All cost pool activity rates will be rounded to two decimal places and shown with "$" and commas as needed (i.e. $1,234.56). The cost pool activity rates will NOT include a label. What is the activity rate for Cost Pool 1 for Product A? What is the activity rate for Cost Pool 2 for Product A? What is the activity rate for Cost Pool 3 for Product A? What is the activity rate for Cost Pool 1 for Product B? What is the activity rate for Cost Pool 2 for Product B? What is the activity rate for Cost Pool 3 for Product B?
Process Costing
Process costing is a sort of operation costing which is employed to determine the value of a product at each process or stage of producing process, applicable where goods produced from a series of continuous operations or procedure.
Job Costing
Job costing is adhesive costs of each and every job involved in the production processes. It is an accounting measure. It is a method which determines the cost of specific jobs, which are performed according to the consumer’s specifications. Job costing is possible only in businesses where the production is done as per the customer’s requirement. For example, some customers order to manufacture furniture as per their needs.
ABC Costing
Cost Accounting is a form of managerial accounting that helps the company in assessing the total variable cost so as to compute the cost of production. Cost accounting is generally used by the management so as to ensure better decision-making. In comparison to financial accounting, cost accounting has to follow a set standard ad can be used flexibly by the management as per their needs. The types of Cost Accounting include – Lean Accounting, Standard Costing, Marginal Costing and Activity Based Costing.
6. Rex Industries has two products. They manufactured 12,539 units of product A and 8,254 units of product B. The data are:
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Activity in Cost Pool Estimated Overhead Product A Product B 1 $45,900 1,000 500 2 67,300 200 800 3 25,200 600 5,400 |
PLEASE NOTE: All cost pool activity rates will be rounded to two decimal places and shown with "$" and commas as needed (i.e. $1,234.56). The cost pool activity rates will NOT include a label.
- What is the activity rate for Cost Pool 1 for Product A?
- What is the activity rate for Cost Pool 2 for Product A?
- What is the activity rate for Cost Pool 3 for Product A?
- What is the activity rate for Cost Pool 1 for Product B?
- What is the activity rate for Cost Pool 2 for Product B?
- What is the activity rate for Cost Pool 3 for Product B?
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- What is the activity rate for Cost Pool 1 for Product A?
- What is the activity rate for Cost Pool 2 for Product A?
- What is the activity rate for Cost Pool 3 for Product A?
- What is the activity rate for Cost Pool 1 for Product B?
- What is the activity rate for Cost Pool 2 for Product B?
- What is the activity rate for Cost Pool 3 for Product B?
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