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Apply the Concepts, Cost Reporting Medco Inc., a manufacturing firm, has four activities: purchasing...

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Accounting

Apply the Concepts, Cost Reporting
Medco Inc., a manufacturing firm, has four activities: purchasing materials, molding, inspecting molds, and grinding imperfect molds. Purchasing materials and molding are necessary activities; inspection and grinding are unnecessary. SQ provides the value-added quantity for each activity; AQ is the actual activity output. The following data pertain to the four activities for the year ending (actual price per unit of the activity driver is assumed to be equal to the standard price):
\table[[Activity,Activity Driver,SQ,AQ,SP],[Purchasing,Purchasing hours,28,000,34,000,$20
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