Activity-Based Costing (ABC)


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Activity-Based Costing (ABC) - short version

(1) A costing system that identifies the various activities performed in a firm and uses multiple cost drivers (non-volume as well as the volume based cost drivers) to assign overhead costs (or indirect costs) to products. ABC Costing considers the impact and relationship of cost drivers with activities performed.

(2) An accounting system that assigns costs to a product based on the amount of resources used to design order or make it.



 



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