Activity Details:Activity 1:Cost Driver: Machine Hours (MH)Cost: $700,000Machine Hours Used: 70,000Activity 2:Cost Driver: Labor Hours...
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Accounting
Activity Details:
- Activity 1:
- Cost Driver: Machine Hours (MH)
- Cost: $700,000
- Machine Hours Used: 70,000
- Activity 2:
- Cost Driver: Labor Hours (LH)
- Cost: $500,000
- Labor Hours Used: 30,000
Requirements:
- Allocate costs to products based on activity drivers.
- Calculate the total cost for each product.
- Present the ABC cost allocation in a detailed table format.
- Discuss the benefits of using ABC in cost management.
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