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The following are six cost pools established for a company using activity-based costing
The following are six cost pools established for a company using activity-based costing. The pools are related to the company's roducts using cost drivers.
or each of the preceding cost pools, identify a possible cost driver. (Each answer is used only once, select the best answer for each ost pool.)
3 3 3
COST POOLS
Inspection of raw materials
Production equipment repairs and maintenance
Plant heat, light, water, and power
Number of receipts Machine hours Dollar value of raw materials Square footage Number of inspections Number of setups Number of setups
Expert Solution
Cost drivers are the activity which is a cause for incurring cost while cost pool is a grouping of a costs.
| COST POOL | COST DRIVER |
| Inspection of raw materials? | Number of Receipts |
| Production equipment repairs and maintenance? | Machine Hours |
| Raw materials storage? | Dollar Value of Raw Materials |
| Plant heat, light, water, and power? | Square Footage |
| Finished product quality control? | Number of Inspections |
| Production line setups | Number of Setups |
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