ACCT 301 cost_account.edited assign.pdf | ACCT 301 - Intermediate Financial Accounting I

Page 1 of 5

I – PLEASE

READ THEM CAREFULLY

The Assignment must be submitted on Blackboard (WORD format only) via allocated folder. Assignments submitted through email will not be accepted. Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page. Students must mention question number clearly in their answer. Late submission will NOT be accepted. Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions. All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism). Submissions without this cover page will NOT be accepted. Page 2 of 5 Q1 Give example of company using ABC costing and explain the process used in this company to assign costs in an ABC system? (Week 7: Chapter 7, ABC costing)

Answer:

SCHNEIDER INC. Schneider Company follows ABC costing method as it fits well with their business. The following steps are taken in the company to allocate costs in the system.