Give me answer within 45 min I will give you positive rating immediately its very urgent ....thankyou.. داWhich of the following option is correct regarding difference in activity-based costing when compared to simple costing?O Simple costing and activity-based costing usually yield very similar product costs.Activity-based costing is generally considered to be more accurate and more costly to implement.O Using activity-based costing does guarantee more accurate costs, but simple costing does not.Simple costing is only as good as the drivers selected, and their actual relationship to costs.Moving to another question will save this response.

Simple costing and activity based costing does not yield in similar since the cost drivers will…

Which of the following option is correct regarding difference in activity-based costing when compared to simple costing? O Simple costing and activity-based costing usually yield very similar product costs. O Activity-based costing is generally considered to be more accurate and more costly to implement. O Using activity-based costing does guarantee more accurate costs, but simple costing does not. Simple costing is only as good as the drivers selected, and their actual relationship to costs.

Which of the following option is correct regarding difference in activity-based costing when compared to simple costing? O Simple costing and activity-based costing usually yield very similar product costs. O Activity-based costing is generally considered to be more accurate and more costly to implement. O Using activity-based costing does guarantee more accurate costs, but simple costing does not. Simple costing is only as good as the drivers selected, and their actual relationship to costs.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter6: Activity-based, Variable, And Absorption Costing

Section: Chapter Questions

Problem 12MC: Which statement is correct? A. Activity-based cost systems are less costly than traditional cost...

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"Activity-based costing does a better job of allocating both direct and indirect cost than traditional methods do.” Is this statement true, false, or uncertain?
It known that variable costing should be used for pricing purposes. What is the benefit of using variable costing for pricing? Are there any benefits to using absorption costing for pricing instead? Explain your answer.
Which one below is NOT an advantage of Activity Based Costing (ABC)? Group of answer choices ABC is more meaningful for costing purposes. ABC is more accurate. ABC eliminates arbitrary assignments/allocations. ABC may lead to reduced costs.
How important is it to trace costs appropriately? Explain. As you are beginning to think about the importance of tracing costs appropriately, please consider the differences between variable costing and absorption costing. What implications does each of these have on such things as financial reporting of profit and pricing your products for the marketplace?
Marginal costing can provide useful information for decision-making. However, there are limitations to its usefulness. Identify and briefly explain three of the limitations.”
The advantages of standard costing exceeds its disadvantages. True or false? Explain further
In your own words, explain what differential costs mean. How are fixed costs and variable costs related to differential costs? Provide an example of differentials costs by considering a personal or professional decision you recently made where you had to choose between two alternatives. Identify the examples of differential costs within this experience.
Which of the following statements is not false of costing systems? A. Activity-based costing systems tend to use fewer cost pools than does a traditional costing system. B. Many traditional costing systems can distort product costs and profitability. C. Activity-based costing systems tend to combine various costs into a single cost pool. D. Traditional costing systems tend to be more costly than activity-based costing systems
1. Activity based costing is likely a more advantageous costing methold versus traditonal costing, to facilliate which of the following type of analysis? a) analysis of service organization cost b) analysis of channel profitablity c) analysis of long term profitablity d) analysis for reduction selling price of all products? 2. A ___ is any factor that causes a change in the cost of an activity. a) activity based cost b) cost pool c) cost driver d) standard 3. Which of the following is no a basic cost category for indirect cost? a) inventory financing cost b) Volume related cost c) Product batch cost d) activity based cost
Activity-based costing does a better job of allocating both direct and indirect cost than traditional methods do.” Is this statement true, false, or uncertain? Explain providing specific evidence to support your view.
Complete the following statements with one of the terms listed here: You may use a term more than once and some terms may not be used at all. Differential Costs Irrelevant Costs Controllable Costs Marginal Costs Fixed Costs Average Cost Uncontrollable Costs Sunk Costs Variable Costs 1. For decision-making purposes, costs that do not differ between alternatives are 2. Costs that have already been incurred are called 3. Managers cannot influence .........in the short run. 4. Total stay constant over a wide range of production volumes. 5. The. action. is the difference in cost between two alternative courses of 6. The product's is the cost of making one more unit. Total costs decrease when production volume decreases. 7. A product's and ............ not the product's should be used to forecast total costs at different production volumes.
When using the general methods to estimate cost behavior, A. It is a good idea to use multiple methods so results can be compared B. Managers often apply their own best judgement as a first step in the estimation process C. Results are likely to differ from method to method D. Large differences in methods suggest that the cost cannot be estimated.