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Discuss the advantages of activity-based costing.
Accounting Information Systems
Solutions
Accounting Information Systems
Discuss the advantages of activity-based costing.
Enlist some of the advantages of activity-based costing.
Explanation of Solution
Activity Based Costing:
The approach of activity based costing keeps the record of resources usage by operating activities and cost incurred for such activities. Managers can take effective and right decision with the help of activity based costing.
Lean manufacturing organizations uses activity based costing technique as it helps them to maximize output by using limited resources in an effective and efficient manner.
The advantages which are offered by activity based costing are enlisted as follows:
- Determination of cost incurred in the production process more accurately...
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