Question: 1. 'Traditional cost allocating methods were 'sensible' just a decade ago'. Discuss. 2. 'Virtually all of a company's activities exist to support the production and

1. 'Traditional cost allocating methods were 'sensible' just a decade ago'. Discuss.

2. 'Virtually all of a company's activities exist to support the production and delivery of today's products and services'. Discuss.

3. Provide examples of 'informal adjustments' made by managers who intuitively understand that their accounting system distorts product costs.

4. Discuss the strategic implications of obtaining information from an ABC System. 5. Academics prefer 'variable' costs, while practitioners prefer 'full' costs. Discuss.

6. Discuss the appealing features and disadvantages of installing an ABC system.

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Answer 1 Traditional cost allocating methods such as the direct labor or machine hours method were considered sensible just a decade ago because they provided a relatively simple and straightforward w... View full answer

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