Required: Determine the unit product cost of each of the company's two products under activity-based costing system.

Activity-based costing (ABC) is a costing technique that uses a two-stage allocation process. Which of the following statements best describes these two stages?       Multiple Choice   Direct costs are allocated to the production departments based on a predetermined overhead rate.   The costs are assigned to departments, and then to the products based upon their use of activity resources.   The costs are assigned to activities, and then to the products based upon their use of the activities.   Indirect costs are assigned to activities, and then to the products based upon the direct cost resources used by the activities.

A 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.