In product costing, which component connects, №9737334, 02.08.2021 19:20

StudenGPT

In product costing, which component connects overhead costs to cost objects? A. direct cost B. overhead rate C. overhead cost D. cost allocation base

Step-by-step answer

P Answered by Studen AI

1

In product costing, the component that connects overhead costs to cost objects is the "cost allocation base."

Let's break it down step by step for better understanding:

1. In product costing, various costs are incurred during the production process, such as direct materials, direct labor, and overhead costs.
2. Overhead costs refer to the indirect costs that are not directly traceable to a specific product or service. These costs include expenses like factory utilities, rent, depreciation, and supervision.
3. To allocate these overhead costs to specific products or services, a cost allocation base is used. The cost allocation base is a measure that quantifies the relationship between the overhead costs and the specific cost objects (such as products or services).
4. The choice of a suitable cost allocation base depends on the nature and behavior of the overhead costs. Common cost allocation bases include machine hours, labor hours, direct labor costs, or even square footage of production area. The selection of the most appropriate base requires careful analysis to ensure accuracy in cost allocation.
5. Once the cost allocation base is determined, overhead costs are assigned or allocated to the cost objects based on their proportional usage of the chosen cost allocation base.

Therefore, in the given options, the correct answer is D. cost allocation base, as it is the component that connects overhead costs to cost objects by providing a measure or basis for allocating these costs appropriately.

Business

Select the correct answer. In product costing, which component connects overhead costs to cost objects? A. direct cost B. overhead rate C. overhead cost D. cost allocation base

Step-by-step answer

P Answered by PhD

5

TH PRODUCT COSTING DIRECT COST CONNECTS OVERHEAD COSTS TO COST OBJECT.

Explanation:

Product cost refers to the costs incurred to create a product. These costs include direct labor, direct materials, consumable production supplies, and factory overhead. Product cost can also be considered the cost of the labor required to deliver a service to a customer.

Direct costs are costs which are directly accountable to a cost object (such as a particular project, facility, function or product). Some overhead costs which can be directly attributed to a project .

StudenGPT

In product costing, which component connects overhead costs to cost objects? A. direct cost B. overhead rate C. overhead cost D. cost allocation base

Step-by-step answer

P Answered by Studen AI

1

The component that connects overhead costs to cost objects in product costing is D. cost allocation base.

Explanation:
In product costing, overhead costs refer to the indirect costs incurred in the production process, such as utility bills, factory rent, or supervisory salaries. These costs cannot be easily traced to specific products or services, so they need to be allocated or assigned to cost objects, such as products, services, or projects.

To allocate overhead costs, a cost allocation base is used. A cost allocation base is a measure that is used to link and distribute the overhead costs to the specific cost objects. The allocation base serves as a common factor or proportional basis for distributing the indirect costs. It is typically a factor that has a cause-and-effect relationship with the incurrence of the overhead costs.

For example, if the cost allocation base is machine hours, then the overhead costs will be allocated to each cost object based on the number of machine hours used. Similarly, if the cost allocation base is labor hours, then the overhead costs will be allocated based on the number of labor hours utilized.

Therefore, the cost allocation base is the component that connects overhead costs to cost objects in product costing. It provides a systematic and fair way of allocating indirect expenses to the products or services that caused those expenses.

Business

Select the correct answer. In product costing, which component connects overhead costs to cost objects? A. direct cost B. overhead rate C. overhead cost D. cost allocation base

Step-by-step answer

P Answered by PhD

5

TH PRODUCT COSTING DIRECT COST CONNECTS OVERHEAD COSTS TO COST OBJECT.

Explanation:

Product cost refers to the costs incurred to create a product. These costs include direct labor, direct materials, consumable production supplies, and factory overhead. Product cost can also be considered the cost of the labor required to deliver a service to a customer.

Direct costs are costs which are directly accountable to a cost object (such as a particular project, facility, function or product). Some overhead costs which can be directly attributed to a project .

Business

He prefers using system software to connect to different types of data stores which data warehouse is Ron using

Step-by-step answer

P Answered by PhD

Autonomous Data Warehouse
Oracle Autonomous Data Warehouse is a cloud data warehouse service that eliminates all the complexities of operating a data warehouse, dw cloud, data warehouse center, securing data, and developing data-driven applications. It automates provisioning, configuring, securing, tuning, scaling, and backing up of the data warehouse. It includes tools for self-service data loading, data transformations, business models, automatic insights, and built-in converged database capabilities that enable simpler queries across multiple data types and machine learning analysis. It’s available in both the Oracle public cloud and customers' data centers with Oracle Cloud@Customer.

Ron is an experienced research expert and analyst, with over 20 years of experience in the digital and IT transformation markets. He is a recognized authority at tracking the evolution of and identifying the key disruptive trends within the service enablement ecosystem, including software and services, infrastructure, 5G/IoT, AI/analytics, security, cloud computing, revenue management, and regulatory issues.
Autonomous Data Warehouse
Oracle Autonomous Data Warehouse is a cloud data warehouse service that e

Business

carlos approaches a bank for a home loan he is denied the loan when the verification of gis credit r

Step-by-step answer

P Answered by PhD

C. Fair Credit Reporting Act

Explanation:

Fair Credit Reporting Act was brought into action to lay governance on the credit bureaus regarding their consumers' credit information. The act presents the rules and regulations to be followed to obtain and present the credit details of the consumers. Also, it looks over the manner in which the details are shared with the consumers and others for various other purposes.

According to the given excerpt, the Fair Credit Reporting Act allows Carlos to take an action in case of any error found in his credit report.

Business

If Beth sends Randall $20 using an app like pop money… where do the funds come from? Where do they go? How do the funds travel?

Step-by-step answer

P Answered by PhD

1

Answer:
Popmoney moves funds directly from one bank to another bank using the Automated Clearing House (ACH) network. Unlike other forms of payment (like PayPal or Venmo), you don’t have a Popmoney account that holds any balance the money is always in the sender or recipient’s bank account. Payments can be made to an individual using their email address or mobile number.

Business

What is marketing and why do we care about

Step-by-step answer

P Answered by PhD

1

In a marketing-oriented firm, every department's activities are guided by what customers need and what the firm can deliver at a profit.
Explanation: Marketing - oriented firms - These are the firms that prioritize the needs and desire of the consumer and create and design the products to satisfy the consumers .
The strategy of these firms is to focus on establishing the main selling points in order to promote the existing products other than manufacturing completely new products . It is a customer - centered method for the development of the product .

Business

What agency would solve a dispute between an advertisement agency and its competitor over false advertising

Step-by-step answer

P Answered by PhD

1

Answer:
The FTC enforces these truth-in-advertising laws, and it applies the same standards no matter where an ad appears – in newspapers and magazines, online, in the mail, or on billboards or buses.
The Federal Trade Commission (FTC) is an independent agency of the United States government whose principal mission is the enforcement of civil (non-criminal) U.S. antitrust law and the promotion of consumer protection. The FTC shares jurisdiction over federal civil antitrust enforcement with the Department of Justice Antitrust Division.

Business

When a huge transportation manufacturing unit adheres to the ethics of preventing air pollution littering and waste management they are essentially adhering to business ethics and serving The Who??

Step-by-step answer

P Answered by PhD

Answer:
It's Haddock, Inc. Haddock, Inc. is a huge transportation manufacturing unit based in Houston. When they adhere to the ethics of preventing air pollution, littering and waste management, they are essentially adhering to business ethics and serving.

In product costing, which component connects overhead costs to cost objects?

Faq

Try asking the Studen AI a question.