Which of the following statements about activity-based costing (ABC) is FALSE? O ABC systems may assign non-manufacturing costs to products ABC systems can reduce cost distortion and lead to improved cost estimates O ABC systems use many cost pools ABC systems may exclude some manufacturing costs from product costs None of the above li.e, all of the above statements are true) BIDU Inc. uses activity-based costing (ABC). Assume the machine setups activity has an expected cost of $2,480,000. Expected machine hours are 160,000 and expected number of equipment moves is 25,000. If the best activity driver for the moving activity is the number of machine hours used in production, then what is the activity rate for the machine setups activity pool? $15.50 per machine hour $4.80 per machine hour $99.20 per machine hour $13.40 per machine hour O None of the above J. Drew Banking offers two types of checking accounts: Student and Premier. The controller accumulated the following servicing cost data for the bank's activity-based costing (ABC) system: Activity Activity. Driver Student Premier Rate Number Processing $0.55 per of 155,750 200,575 deposits deposit deposits Number Customer $1.50 per of 75,235 35,900 service inquiry inquiries Cashing Checks $0.75 per 400,250 345,600 checks cashed check The bank currently has 10,565 student checking accounts and 15,562 premier checking accounts. What is the cost per checking account incurred by the bank to provide student checking accounts? (Round your final answer to two decimal places.) O $47.20 O $38.68 O $8.83 O $41.66 None of the above The first stage of ABC entails the assignment of: resource costs to departments or divisions activity costs to cost objects resource costs to a plantwide pool resource costs to distribution channels resource costs to individual activities