ACTIVITY-BASED COSTING 65 The traditional methods of cost allocation, cost apportionment and absorption into products...
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Accounting
ACTIVITY-BASED COSTING
65
The traditional methods of cost allocation, cost apportionment and absorption into
products are being challenged by some writers who claim that much information
given to management is misleading when these methods of dealing with fixed
overheads are used to determine product costs.
You are required to explain what is meant by
cost allocation, cost apportionment
and
absorption
and to describe briefly the alternative approach of
activity-based
costing
in order to ascertain total product costs
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