Considering your local credit union, what type of activities would you identify for and ABC strategy?
Homework Answers
ACTIVITY BASED COSTING
Activity based costing is the costing method which simply means that assign overhead and indirect cost related to product and services.in a credit union there have lot of product and services like loans ABC is the accounting recognize the relationship between different overheads activities and costs,it help to find indirect costs simply
Identify all the activities required to create the product.
1.first step is Divide the activities of credit union into cost pools, which includes all the individual costs related to an activity—such as providing loans.Calculate the total overhead of each cost pool.
2.second step is Assign each cost pool activity cost drivers, such as hours or units.
3.next Calculate the cost driver rate by dividing the total overhead in each cost pool by the total cost drivers.
4.Divide the total overhead of each cost pool by the total cost drivers to get the cost driver rate.
5.Multiply the cost driver rate by the number of cost drivers.
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Considering your local credit union, what type of activities would
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