Indicate whether the following statements are true or false. 1. The reasoning behind ABC cost allocation is
Question:
1. The reasoning behind ABC cost allocation is that products consume activities and activities consume resources.
2. Activity-based costing is an approach for allocating direct labor to products.
3. In today's increasingly automated environment, direct labor is never an appropriate basis for allocating costs to products.
4. A cost driver is any factor or activity that has a direct cause-effect relationship with resources consumed.
5. Activity-based costing segregates overhead into various cost pools in an effort to provide more accurate cost information.
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Related Book For
Managerial Accounting Tools for business decision making
ISBN: 978-0470477144
5th edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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