Which Of The Following Is Characteristic Of The Traditional Cost System?

Life cycle costing is different from traditional cost accounting system which reports cost object profitability on a calendar basis ie. Many work in process account transactions. Working with suppliers to achieve on-time delivery of defect-free raw materials External failure costs 6. A An ABC system would likely have a greater number of standard cost variances reported each period. In a process cost system the flow of costs is. Files carrying data are independent on each other. Answer is All of the above Traditional cost system is push manufacturing bases since production is made based on t.

Control systems in traditional responsibility accounting are.

Monthly quarterly and annually whereas life cycle costing involves tracing costs and revenues of a cost object ie. Which of the following is characteristic of a traditional cost system. Many process control points. Reliance on financial performance measures. Each file contains data for some specific area or department like library student fees and student examinations. B Only non-volume-related cost drivers are used in the cost-allocation process.

Solved Which Of The Following Is Characteristic Of The Chegg Com

Which of the following is characteristic of the traditional cost system?. The traditional method of cost accounting refers to the allocation of manufacturing overhead costs to the products manufactured. The traditional method also known as the conventional method assigns or allocates the factorys indirect costs to the items manufactured on the basis of volume such as the number of units produced the direct labor hours or the production machine hours. Which of the following is a characteristic of calculating standard cost variances for manufacturing overhead costs under an activity-based cost ABC system.

View the full answer. Which of the following is not a characteristic of the new traditional economic system. Many work in process account transactions.

Advancing technology is responsible for the changes to old traditional economic systems. Many process control points. Costs of testing durability of vinyl Internal failure costs 8.

It stores data of an organization in group of files. Chapter 2712Cost Management for Just-In-Time Environments 469 Foley Electronics Corporation manufactures and assembles electronic motor drives for video cameras. Each occupant is charged a daily rate equal to ALFs annual cost of providing residential space meals and OOA divided by total occupant days.

Awork in process cost of goods sold finished goods. Traditional ones Systems are often unable to accurately determine the actual production costs and costs of related services. A An ABC system would likely have a greater number of standard cost variances reported each period.

Many work in process account transactions. The characteristics of a responsibility system for a JIT or lean organization include. Competition is a key factor in all the economies.

Increasing the traceability of costs with fewer cost pools. Cost of inspecting raw materials such as chassis and wheels Prevention costs 5.

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Chapter 2712Cost Management for Just-In-Time Environments 469 Foley Electronics Corporation manufactures and assembles electronic motor drives for video cameras.

Which of the following is characteristic of a traditional cost system. Competition is a key factor in all the economies. Increasing the traceability of costs with fewer cost pools. Which of the following is characteristic of a traditional cost system. In a process cost system the flow of costs is. Costs of testing durability of vinyl Internal failure costs 8. The process consists of a just-in-time cell for each customer. Many process control points. C If only process 3 experiences 5 minutes of unplanned downtime the systems overall output is diminished.

Many process control points. A An ABC system would likely have a greater number of standard cost variances reported each period. Dwork in process finished goods cost of goods sold. Many work in process account transactions. B Only non-volume-related cost drivers are used in the cost-allocation process. Characteristics OF Traditional File Processing System. Reliance on financial performance measures.