Which of the following is an advantage of activity–based costing systems over volume–based cost systems?
a. Activity based costing provides more accurate cost information than volume–based cost systems.
b. Activity based costing is cheaper to implement than volume–based cost systems.
c. Activity based costing provides allocates more than their fair share of overhead costs to low–volume products than volume–based cost systems.
d. Activity based costing is easier to implement in companies that have relatively higher proportions of non–unit–level costs.
a
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Claim refusals are not necessary when a warranty does not apply or has expired or a customer has misused a product
Indicate whether the statement is true or false
________ brands are brands that are managed and owned by the manufacturer rather than a reseller.
Fill in the blank(s) with the appropriate word(s).
Data on Liu Inc. for the most recent year are shown below, along with the inventory conversion period (ICP) of the firms against which it benchmarks. The firm's new CFO believes that the company could reduce its inventory enough to reduce its ICP to the benchmarks' average. If this were done, by how much would inventories decline? Use a 365-day year. Cost of goods sold =$85,000 Inventory =$20,000 Inventory conversion period (ICP) =85.88 Benchmark inventory conversion period (ICP) =38.00
A. $7,316 B. $8,129 C. $9,032 D. $10,036 E. $11,151
The duties owed to shareholder by the board of directors are often affected by the circumstances in which the business finds itself
a. True b. False Indicate whether the statement is true or false