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. NEED ANSWER ASAP / ANSWER NEVER USED BEFORE Discuss traditional costing and why a better approach...

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Finance

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NEED ANSWER ASAP / ANSWER NEVER USED BEFORE

Discuss traditional costing and why a better approach is/wasneeded. Activity based costing (ABC) is the solution since it willenhance the accuracy and effectiveness of costing products byapplying overhead costs where they belong. Explain how is thishelpful to managers?

ANSWER THROUGHLY 1-2 pages

COPY AND PASTE NOT ATTACHMENT PLEASE

NEEDS TO BE AN ORIGINAL SOURCE ANSWER NEVER USEDBEFORE

*****NEEDS TO BE A ORIGINAL SOURCE****

Answer & Explanation Solved by verified expert
3.6 Ratings (599 Votes)
In traditional costing we allocate the factory overhead on the basis of the amount of production resources used generally in this method overhead is applied on the basis of amount of direct labor hours or the amount of machine hours The major drawback of this method is that a small change in the amount of production resources used leads to drastic changes in the amount of overheadsthis method shows the    See Answer
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.NEED ANSWER ASAP / ANSWER NEVER USED BEFOREDiscuss traditional costing and why a better approach is/wasneeded. Activity based costing (ABC) is the solution since it willenhance the accuracy and effectiveness of costing products byapplying overhead costs where they belong. Explain how is thishelpful to managers?ANSWER THROUGHLY 1-2 pagesCOPY AND PASTE NOT ATTACHMENT PLEASENEEDS TO BE AN ORIGINAL SOURCE ANSWER NEVER USEDBEFORE*****NEEDS TO BE A ORIGINAL SOURCE****

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