BEC Cost Accounting review 5

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--------------------------- assigns costs of activities to products using both volume and non-volume based cost drivers.

Activity based costing assigns costs of activities to products using both volume and non-volume based cost drivers.
What does ABC stand for?

Activity based costing
what are the general steps for establishing a activity based costing system?

1. --------------------------
2. Organize activities by cost center
3. identify major elements of indirect costs
4. identify cost drivers assign costs activities assign activities to products
5. establish a cost flow chart
6. establish appropriate cost conversion tools
7. gather data information for the ABC system
8. Establish the cost flow model to develop costing rates.
- 1. identify relevant activities
- 2. Organize activities by cost center
- 3. identify major elements of indirect costs
- 4. identify cost drivers assign costs activities assign activities to products
- 5. establish a cost flow chart
- 6. establish appropriate cost conversion tools
- 7. gather data information for the ABC system
- 8. Establish the cost flow model to develop costing rates.
what are the general steps for establishing a activity based costing system?

1. identify relevant activities
2. ---------------------------
3. identify major elements of indirect costs
4. identify cost drivers assign costs activities assign activities to products
5. establish a cost flow chart
6. establish appropriate cost conversion tools
7. gather data information for the ABC system
8. Establish the cost flow model to develop costing rates.
- 1. identify relevant activities
- 2. Organize activities by cost center
- 3. identify major elements of indirect costs
- 4. identify cost drivers assign costs activities assign activities to products
- 5. establish a cost flow chart
- 6. establish appropriate cost conversion tools
- 7. gather data information for the ABC system
- 8. Establish the cost flow model to develop costing rates.
what are the general steps for establishing a activity based costing system?

1. identify relevant activities
2. Organize activities by cost center
3. -------------------------------------
4. identify cost drivers assign costs activities assign activities to products
5. establish a cost flow chart
6. establish appropriate cost conversion tools
7. gather data information for the ABC system
8. Establish the cost flow model to develop costing rates.
1. identify relevant activities
- 2. Organize activities by cost center
- 3. identify major elements of indirect costs
- 4. identify cost drivers assign costs activities assign activities to products
- 5. establish a cost flow chart
- 6. establish appropriate cost conversion tools
- 7. gather data information for the ABC system
- 8. Establish the cost flow model to develop costing rates.
what are the general steps for establishing a activity based costing system?

1. identify relevant activities
2. Organize activities by cost center
3. identify major elements of indirect costs
4. ------------------------------------
5. establish a cost flow chart
6. establish appropriate cost conversion tools
7. gather data information for the ABC system
8. Establish the cost flow model to develop costing rates.
- 1. identify relevant activities
- 2. Organize activities by cost center
- 3. identify major elements of indirect costs
- 4. identify cost drivers assign costs activities assign activities to products
- 5. establish a cost flow chart
- 6. establish appropriate cost conversion tools
- 7. gather data information for the ABC system
- 8. Establish the cost flow model to develop costing rates.
what are the general steps for establishing a activity based costing system?

1. identify relevant activities
2. Organize activities by cost center
3. identify major elements of indirect costs
4. identify cost drivers assign costs activities assign activities to products
5. -------------------------------
6. establish appropriate cost conversion tools
7. gather data information for the ABC system
8. Establish the cost flow model to develop costing rates.
- 1. identify relevant activities
- 2. Organize activities by cost center
- 3. identify major elements of indirect costs
- 4. identify cost drivers assign costs activities assign activities to products
- 5. establish a cost flow chart
- 6. establish appropriate cost conversion tools
- 7. gather data information for the ABC system
- 8. Establish the cost flow model to develop costing rates.
what are the general steps for establishing a activity based costing system?

1. identify relevant activities
2. Organize activities by cost center
3. identify major elements of indirect costs
4. identify cost drivers assign costs activities assign activities to products
5. establish a cost flow chart
6. -------------------------------------
7. gather data information for the ABC system
8. Establish the cost flow model to develop costing rates.
- 1. identify relevant activities
- 2. Organize activities by cost center
- 3. identify major elements of indirect costs
- 4. identify cost drivers assign costs activities assign activities to products
- 5. establish a cost flow chart
- 6. establish appropriate cost conversion tools
- 7. gather data information for the ABC system
- 8. Establish the cost flow model to develop costing rates.
what are the general steps for establishing a activity based costing system?

1. identify relevant activities
2. Organize activities by cost center
3. identify major elements of indirect costs
4. identify cost drivers assign costs activities assign activities to products
5. establish a cost flow chart
6. establish appropriate cost conversion tools
7. ----------------------------------------
8. Establish the cost flow model to develop costing rates.
- 1. identify relevant activities
- 2. Organize activities by cost center
- 3. identify major elements of indirect costs
- 4. identify cost drivers assign costs activities assign activities to products
- 5. establish a cost flow chart
- 6. establish appropriate cost conversion tools
- 7. gather data information for the ABC system
- 8. Establish the cost flow model to develop costing rates.
what are the general steps for establishing a activity based costing system?

1. identify relevant activities
2. Organize activities by cost center
3. identify major elements of indirect costs
4. identify cost drivers assign costs activities assign activities to products
5. establish a cost flow chart
6. establish appropriate cost conversion tools 7. gather data information for the ABC system
8. -----------------------------------------
- 1. identify relevant activities
- 2. Organize activities by cost center
- 3. identify major elements of indirect costs
- 4. identify cost drivers assign costs activities assign activities to products
- 5. establish a cost flow chart
- 6. establish appropriate cost conversion tools 7. gather data information for the ABC system
- 8. Establish the cost flow model to develop costing rates.
what are the general steps for establishing a activity based costing system?

1. -----------------------------------
2. -------------------------------------
3. -----------------------------------
4. ---------------------------------------
5. ---------------------------------
6. -------------------------------------
7. ---------------------------------------------
8. -----------------------------------------
- 1. identify relevant activities
- 2. Organize activities by cost center
- 3. identify major elements of indirect costs
- 4. identify cost drivers assign costs activities assign activities to products
- 5. establish a cost flow chart
- 6. establish appropriate cost conversion tools 7. gather data information for the ABC system
- 8. Establish the cost flow model to develop costing rates.

Author

Joens1313

300963

Card Set

BEC Cost Accounting review 5

Description

BEC Cost Accounting review 5

Updated

2015-04-17T03:48:20Z

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