FREE Trial

What are cost objects, cost pools and allocation bases? What role do they play in cost allocation? What is the

Question:

What are cost objects, cost pools and allocation bases? What role do they play in cost allocation? What is the difference between cost allocation bases and cost drivers?

This problem has been solved!


Do you need an answer to a question different from the above? Ask your question!

Step by Step Answer:

Answer rating: 87% (8 reviews)

Cost object is something that is assigned a separate measure of cost because management need such co…View the full answer


answer-question
Answered By
tutor-profile-image
Saleem Abbas
Have worked in academic writing for an a years as my part-time job.
5.00+ 1+ Reviews 10+ Question Solved
Related Book For  answer-question
Management Accounting

Management Accounting

ISBN: 9781760421144

7th Edition

Authors: Kim Langfield Smith, Helen Thorne, David Alan Smith, Ronald W. Hilton

See More Books
View Solution
Create a free account to access the answer
Cannot find your solution?
Post a FREE question now and get an answer within minutes. * Average response time.
Question Posted: November 01, 2017 05:45:45
See More Questions

Students also viewed these Advanced Accounting questions

Q:
What is the difference between cost allocation and cost assignment?
A:
Cost assignment refers to the general case of assigning costs to cost pools or cost objec......
Q:
What are 3PLs and what role do they play in SCM?
A:
3PLs stands for Third party logistics service providers......
Q:
What are cost objects and why are they important?
A:
Cost objects are units for which an arrangement is made to......
Q:
The functions in Exercises 1128 are all one-to-one. For each function, a. Find an equation for f -1 (x), the inverse function. b. Verify that your equation is correct by showing that f( f -1 (x)) = x...
A:
a b f x 2x......
Q:
Explain whether the methyl is axial or equatorial in this compound: CH3 H C-C-CH3 CH3
A:
The axial destabilization energy of the......
Q:
It is always a good idea for auditors to begin an audit with the professional skepticism characterized by the assumption that a. A potential conflict of interest always exists between the auditor and...
A:
a Correct The management team is generally trying to put its best foot forwar......
Q:
Rate each of the following questions according to the following scale: 1. I am never like this. 2. I am rarely like this. 3. I am sometimes like this. 4. I am often like this. 5. I am always like...
A:
ANSWER You ve provided a question for rating based......
Q:
Cartwright Ltd. manufactures two models of saddles, the Jordan and the Shenandoah. The Jordan is a more basic model and sells for $750. The Shenandoah is a professional-model saddle and sells for...
A:
1 Total indirect costs are 715 800 140 000 48 000 50 000 60 000 35 000 96 000 13 800 148 000 50 000 75 000 Budgeted manufacturing plant wide overhead rate Plant wide rate 715 800 30 000 30 000 11 93 p......
Q:
How would one compose a PL/SQL Trigger that will fires when a row is deleted in the PRODUCTS table? The trigger should delete the row from the PRODUCT_STATS table based on the shared product_id. ...
A:
1 Create a trigger with the appropriate timing and scope 2 Use a PL SQL block within the trigger to......
Q:
Each group below contains twe analogies - pairs of related objects or ideas. The second analogy in each group is incomplete. A Seled the one choice that best completes the second analogy and fil in...
A:
9 horse mule Answers PART A obedient Stubbom Ans C 2 I me he him Ans A 3 White black......
Q:
What is the key difference between variable and absorption costing?
A:
Both absorption and variable costing systems assign direct material direct labour and......
Q:
Would you recommend variable costing or absorption costing as a source of information for managers? Explain your answer.
A:
Variable product costs are particularly useful for short term decisions such as whether to make or buy a component and pricing especially when variabl......
Q:
Use a ruler and protractor to draw the given type of triangle. Mark the largest angle and longest side in red and the smallest angle and shortest side in blue. What do you notice? Obtuse isosceles
A:
The largest angle is opposite the......
Q:
The market portfolio has an expected return of 10% and consists of 30% in stock and 70% in real estate,and the risk-free interest rate is 5%.Based on the single-factor CAPM model and the following...
A:
To calculate the expected return for the stock and real estate using the single factor CAPM Capital......
Q:
A jewelry store in Lanberry bought a gold ring for $550 and marked it up 50% from the original cost. Later on, Beth purchased the gold ring and paid Lanberry sales tax of 8%. How much, including tax,...
A:
To find out how much Beth paid for the gold ring in......
Q:
Find the value of a 3 year bond with a coupon rate of 7.5% b. make a decision tree and discuss the valuations that you get for each of the bond prices up from time 0 to time 2. c. Briefly discuss...
A:
To find the value of a 3 year bond with a coupon rate of 7 5 we ll need to calculate the present val......
Q:
You are the manager of a mutual fund and it is time to evaluate the performance bonus of tow of your employees Mr, Jeckyll and Mr.Hyde. Following is the performance of the stocks held by Mr, Jeckyll...
A:
SOLUTION a To determine which employee gets the higher bonus we need to calculate their respective r......
Q:
merge two arrays into one array that is in ascending order. You may assume that both individual arrays are in ascending order. Consider the two following examples: Example 1: Array 1 2 26 39 Merged...
A:
Here s the Java code for merging two arrays into one array in ascending order based on the provided question MergeArrays java CSCI 111 Jane double Student ID 12345678 Program 12345678 In keeping with......
Q:
INTRODUCTION This case study focuses on the risk assessment stage of the audit. Each of the four parts deals largely with the material in the chapter to which that part relates. However, the parts...
A:
a b c While Pinnacle continues to experience some growth in net sales in 2015 over 2014 that growth is less than the growth in 2014 over 2013 Unfortunately cost of goods sold continues to increase at......
Q:
Use the formula to determine the value of the indicated variable for the values given. Use a calculator when one is needed. When necessary, use the key on your calculator and round answers to the...
A:
R T R 1 R 2......
Q:
Designing a Balanced Scorecard Wells Fargos web page (https://www .wellsfargo.com/pdf/invest_relations/VisionandValues04.pdf) states that the companys vision is to satisfy all our customers financial...
A:
Wells Fargo describes itself as follows in its company overview at https www wellsfargo com downloads pdf about wellsfargotoday pdf June 19 2010 Wells Fargo Company is a diversified financial services......
Q:
Designing a Balanced Scorecard for a pharmaceutical company Chadwick, Inc.: The Balanced Scorecard (Abridged)14 Company Background Chadwick, Inc., was a diversified producer of personal consumer...
A:
Substantive Issues Raised Division managers at Chadwick had complained to the Controller about the continual pressure to meet short term financial objectives As a producer of consumer products and pha......
Q:
Designing a Balanced Scorecard strategy map for an auto parts manufacturing company Domestic Auto Parts (DAP), 16 a $1 billion subsidiary of a U.S. auto parts manufacturing company, manufactured and...
A:
Domestic Auto Parts Harvard Business School Case HBS Case 9 105 078 The case discussion can proceed perspective by perspective working from the Financ......
Engineering Science 7th Edition - ISBN: 0367554453 - Free Book