FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Lifecycle Costs (LCC) estimates for design, test, production, operations for manufacturing an electric bus
Clarify cost responsibilities of the controller, management, and teams for manufacturing an electric bus
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- devratarrow_forwardChecklist of evidence required Finally, you should reflect on the results of your activity-based costing exercise, by: a) explaining how costs are categorised. b) identifying those cost areas that have the greatest impact on the profitability of the product that you have investigated. c) evaluating the reasons for producing an activity-based cost model. d) explain how ABC model used to improve profitability. A research and problem solving project to explore the costs associated with engineering activities and to complete an activity-based cost model for a product.arrow_forwardClassify the following costs as typically direct (D) or indirect (I): Project staff Audit and legal Utilities Rent Raw materials Training on equipment Project supplies Labor Administrative staff Miscellaneous office supplies Quality assurance IT department Scheduled maintenance Shared software packagesarrow_forward
- please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image) Question Content Area Activity rates and product costs using activity-based costing Idris Inc. manufactures entry and dining room lighting fixtures. Five activities are used in manufacturing the fixtures. These activities and their associated budgeted activity costs and activity bases are as follows: Activity BudgetedActivity Cost Activity Base Casting $640,000 Machine hours Assembly 125,000 Direct labor hours Inspecting 30,000 Number of inspections Setup 28,000 Number of setups Materials handling 20,000 Number of loads Corporate records were obtained to estimate the amount of activity to be used by the two products. The estimated activity-base usage quantities and units produced follow: Activity Base Entry Dining Total Machine hours 7,500 12,500 20,000…arrow_forwardimpact and comparison of cost control techniques in practicearrow_forwardPrepare a direct materials budget for silicon and solution, and a direct labor budget.arrow_forward
- Which of the following cost and cost allocation base have a stronger cause and effect relationship? A) administration costs and cubic feet B) setup costs and square feet C) quality control costs and the number of inspections D) machine maintenance and setup hoursarrow_forwardA direct material standard cost is: Group of answer choices The cost of direct materials that should be incurred to produce one unit of output or product. The amount of direct materials that should be used to produce one unit of output or product. The cost of all materials and supplies used to produce one unit of output or product. The price that should be spent to purchase each unit of direct material for production.arrow_forwardClassify the different costs as unit, batch, product, or facility. Answers (unit, batch, product, or facility) may be used more than once and some answers may not be used at all. Research and development Electricity Building security costs Quality control Design costsarrow_forward
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