Respond to the following in a minimum of 175 words:What is activity-based costing? What...

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Accounting

Respond to the following in a minimum of 175 words:
What is activity-based costing? What are some of the keyelements of activity-based costing? How does this method differfrom a more traditional costing method?

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Solution An organization deciding to do business in competitive global market needs to plan record and analyze its activities beforehand in order to sustain and gain competitive advantage over others Activitybased costing is a tool of allocation of cost pools across various product lines service areas and departments and widely used in product costing service pricing makeorbuy decision etcetera by organizations and stands as a detailed expensive method of costing This process involves recording of indirect See Answer

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In: AccountingRespond to the following in a minimum of 175 words:What is activity-based costing? What are...Respond to the following in a minimum of 175 words:What is activity-based costing? What are some of the keyelements of activity-based costing? How does this method differfrom a more traditional costing method?