Discuss two potential application of the activity based costing system in decision-making, to the managers of any organisations

Q: Discuss how the strategic management accounting technique target costing could offer Green…

A: Target costing is a strategic cost management technique, it helps in cost reduction of the entity…

Q: how activity based costing has been discovered?

A: Activity-based costing, often known as ABC, is a way of allocating overhead and indirect expenses to…

Q: Why do managers use a standard cost system to control business activities? a) Setting standards…

A: Standards represent the budgeted performance that the company expects to achieve in future. The…

Q: In which of the following centers are managers responsible for controlling costs and generating…

A: The question is asking to identify the type of center in an organization where the managers are…

Q: Why is knowledge of cost behavior important for managerial decision making? Give an example to…

A: Meaning of Managerial decision making  Every organization have the planned goals which are to be…

Q: Using a CPA firm to represent the service industry, discuss how activity-based costing could be used…

A:

Q: What are the keys for a managerial accountant in decision-making with differential analysis, product…

A: Managerial accounting, sometimes known as management accounting, is a type of accounting that…

Q: Costs that are common to many different activities within an organization are known as ____ costs.…

A: The correct option with proper explanation are as follows

Q: What are the two dimensions of the activity-based management model?How do they differ?

A: Activity based costing is a type of costing method which allocate indirect cost based on their…

Q: What are the four steps to developing an activity-based costing system?

A: Activity-based costing (ABC):   Activity based costing (ABC) framework was created to manage the…

Q: agerial

A: Managerial accounting is the process of identifying, analyzing, interpreting and communicating…

Q: Describe how product cost informationis used by managers to identify cost improvement opportunities?

A: Product Cost: The phrase "product cost" is an accounting word that refers to the overall expenses…

Q: Cost accounting provides management with a variety of cost classifications that can be used for…

A: The concept underlying the above question revolves around the importance of cost classifications in…

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.