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Traditional Costing
ABC
TDABC
Definitions
Types of Activities
100
What decade was standard costing invented?
What is the 1880's
100
ABC stands for
What is Activity Based Costing
100
TDABC stands for
What is Time-Driven Activity Based Costing
100
an item of production or service for which it is useful to have cost information
What is a cost unit
100
Resources acquired and activities performed to provide general capacity to produce goods.
What is Facility Level Activites
200
Rent, Utilities, Telephone, and Transportation are examples of
What are overhead expenses
200
How many steps are there in ABC?
What is 4.
200
One reason managers abandon ABC
What is Rising Costs/Employee Irritation
200
an event , action, transaction, or work sequence that causes a cost to be incurred in producing a product or providing a service
What is an activity
200
Resources acquired and activities performed for individual units of product.
What are Unit Level Activities
300
Traditional costing spreads overhead cost over what?
What is entire product range
300
What do you need to compute the cost driver rate?
What are activity cost and activity volume
300
What percentage is Practical Full Capacity
What is 80-85%
300
a product or department for which costs are accumulated or measured
What is a cost object
300
Resources acquired and activities performed for a batch or group of similar products.
What are Batch Level Activities
400
Another name for overhead recovery rate
What is predetermined overhead rate
400
This method allocates cost based on
What are individual activities
400
How many steps are in TDABC
What is Six steps
400
costs that are directly associated with the manufacturing process
What is a direct cost
400
Resources acquired and activities performed to serve specific customers
What are Customer Level Activities
500
For process costing, over heads cost absorption rates are normally based on
What is machine hours
500
Providing accurate costing of products is a _____ of ABC
What is Advantage
500
How long did the guy think he slept in the video?
What is 2 days
500
costs that are not directly identifiable with a unit of production
What is an indirect cost
500
Resources acquired and activities performed to product and sell a particular product.
What are Product Level Activities