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The Activity-Based Costing Process

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

What is activity-based costing?

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1. What is an activity cost pool?

2. ABC Electronics produces computer chips. They produced 7,000 units and incurred a cost of $1500 to maintain the machinery used to produce them. What is the activity rate pertaining to machine maintenance as a cost driver?

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About This Quiz & Worksheet

The worksheet and quiz can help test your knowledge of the activity-based costing procedure. Activity-based costing and activity cost pool are two terms you will be quizzed on.

Quiz & Worksheet Goals

These resources help you check your knowledge of:

  • Activity cost pool
  • The kind of budget that you would find activity-based costing on
  • A document used for finding activity-based costing
  • What an activity rate is

Skills Practiced

  • Reading comprehension - ensure that you draw the most important information from the business lesson on the activity-based costing procedure
  • Information recall - access the knowledge you've gained regarding which budget is likely to involve activity-based costing
  • Defining key concepts - ensure that you can accurately define main phrases, such as activity cost pool and activity rate

Additional Learning

Learn more about these concepts using the lesson, The Activity-Based Costing Process. Use this lesson to:

  • Understand the purpose of activity-based costing
  • Learn how to find activity rates
  • Review examples of assigning overhead to cost objects
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