Activity based costing systems
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If you were a small business owner, would you implement an activity-based costing system? What potential benefits or pitfalls do you foresee? Give an example of an activity based costing system.
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Solution Summary
This solution discusses an activity-based costing system for a business.
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Solution:
For a small business, I would not implement an activity based costing system.
Potential benefits of ABC:
1) Accurate costing of products
2) No over-costing or under-costing of products
3) Correct selling price can be fixed based on the correct costing of the product.
4) Better market position for the product as a result of the ...
Education
- MPhil, Madurai Kamaraj University
- MCom, Annamalai University
- IATA, International Air Transport Association
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