single-rate method is when all indirect costs are combined in one cost po cated to cost objects via a single rate per unit. True False
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- What are the challenges of using the incremental cost allocation method when allocating common costs and how might they be overcome?Distinguish between the single-rate and the dual-rate methods. The single-rate (cost-allocation) method makes costs in each cost pool to cost objects using distinction between fixed costs and variable costs in the cost pool. It allocates rate per unit of the single allocation base.A cost which changes in proportion to changes in volume of activity is called a: * a. fixed cost b. controllable cost c. variable cost d. opportunity cost
- Classify each of the costs in table A into variable and fixed cost?Which of the following represent the right process order for cost allocation: Select one: O a. Develop the cost allocation formula, calculate the indirect cost rate, then allocate cost to the cost object O b. Develop the cost allocation formula, allocate cost to the cost object, then calculate the indirect cost rate O C. Allocate cost to the cost object, develop the cost allocation formula, then calculate the indirect cost rate O d. Calculate the indirect cost rate, develop the cost allocation formula, then allocate cost to the cost objectWhich of the following best describes a fixed cost? a.Cost representing a fixed proportion of total costs b.Cost directly related to output c.Cost that remains at the same level up to a particular level of output . d.Cost that remains at the same level when output increases.
- An input whose cost is determined by the quantity of input consumed is a A. Fixed cost B. Variable cost C. Step cost D. Variable cost with fixed component2. The following total cost graphs indicate which type of cost behavior? A. VARIABLE COST B. FIXED COST C. MIXED COST D. STEP COSTA cost allocation rule is the method or process used to assign the costs in the ________ to the ________.cost object; cost poolcost pool; cost objectcost pool; opportunity costcost allocation; cost pool
- Cost estimation is the process of a. Summarizing pwst costs into fixed variable components. b.Estimating the relationship between costs and the costs drivers that cause those costs. c. Documenting costs in terms of direct and indirect costs. d. All of the choicesCompute the following: Operating income under variable (direct) costing method Operating income under absorption costing method Operating income under throughput costing methodDefine cost behavior. Define and discuss how variable cost, fixed cost and mixed cost is different. Provide an example of each.