Answer :
Activity-based costing is a costing method that is designed to provide managers with product cost information for internal decision-making - True
What is activity-based costing?
A method of allocating overhead and indirect expenses to goods and services is called activity-based costing (ABC).
Activities are any occurrence, unit of labor, or task with a particular objective and are the foundation of the ABC system of cost accounting.
It involves monitoring resource consumption and valuing outcomes at the end.
Assigning certain resources to objects is the purpose of activity-based costing.
Team leaders can utilize this information to develop better-educated pricing and manufacturing plans because it precisely identifies the actions that drive up production costs.
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True, Activity-based costing is a costing method that is designed to provide managers with product cost information for internal decision-making.
What is the activity-based costing approach?
Activity-based costing (ABC) is a form of assigning overhead and indirect costs—such as salaries and utilities—to developments and services. The ABC system of cost analysis is based on activities, which are considered any event, unit of work, or study with a specific goal.
When activity-based costing is utilized for internal decision-making?
When activity-based costing is utilized for internal decision-making, the costs of idle power should be assigned to products. Direct labor costs are usually contained in the costs that are assigned to activity cost pools in an activity-based costing system.
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