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Question 1 0.9 pts Activity-based costing changes the amount of overhead costs, but it doesn't allocate those costs in a more accurate manner. O True O False 0.9 pts Question 5 Murphy, Inc. manufactures two products, tables and chairs. The company has estimated its overhead in the assembly department to be $660,000. The company produces 300,000 tables and 600,000 chairs each year. Each table uses 2 parts, and each chair uses 3 parts. What amount of the assembly of overhead cost should be allocated to tables? O $330,000 O $75,000 $220,000 $165.000 U Question 4 0.9 pts Fritz Company uses an Activity-Based Costing (ABC) system. The controller identified the following activity-based pools: manufacturing, purchase ordering, and setups with cost drivers of machine hours, number of purchase orders and number of setups, respectively. Fritz estimated the following costs: $500,000 manufacturing, $80,000 setups, and $60,000 purchase ordering using 50,000 machine hours, 4,000 setups, and 20,000 purchase orders. What are the three ABC rates? O $10 per machine hour, $4 per setup, $15 purchase order O $25 per machine hour, $20 per setup, $1.20 purchase order o $10 per machine hour, $20 per setup. $3 purchase order O $125 per machine hour, $4 per setup, $1.20 purchase order Question 3 0.9 pts All of the following are benefits of ABC except more accurate cost data. O better management decisions. enhanced control over overhead costs. O elimination of all arbitrary cost allocations. Question 2 0.9 pts The last step in activity-based costing is to O identify the cost driver that has a strong correlation to the costs accumulated in each cost pool and estimate total annual cost driver usage. O identify and classify the activities involved in the manufacture of specific products and allocate overhead to cost pools. assign overhead costs to products using the overhead rates determined for each cost pool and each product's use of each cost driver. O compute the activity-based overhead rate for each cost pool