Activity-Based Product Costing

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Business
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University
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Hard
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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary purpose of activity-based costing?
To determine the profit margin of a product
To allocate indirect costs like overhead to production activities
To assign direct costs to products
To calculate the selling price of a product
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does activity-based costing help in product costing?
By reducing the cost of raw materials
By eliminating overhead costs
By assigning all costs to a product for accurate cost recording
By increasing the selling price of a product
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a method of product costing mentioned in the video?
Direct costing
Throughput
Process costing
Job costing
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the relationship between activity-based costing and product costing?
Activity-based costing is a subset of product costing
Product costing is only used for external reporting
They are unrelated concepts
They can be used together to assign costs to production activities
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a benefit of understanding the cost of activities in production?
It helps in setting prices and making management decisions
It reduces the need for financial reporting
It eliminates the need for cost accounting
It increases the complexity of accounting processes
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