What benefits and drawbacks are there for a business that uses a Standard$/$Traditional Costing model?

What benefits and drawback are there for a business that uses an Activity Based Costing $($ABC$)$ model?

If you owned a small manufacturing business with relatively high volume and multiple product lines, would you implement an ABC model? Why?

Answer rating: 100% (QA)

StandardTraditional Costing Model Benefits Simplicity Standard costing is relatively simple and easy to implement making it suitable for businesses with straightforward cost structures Familiarity Its ... View the full answer