Question: A) Distinguish between these terms: variable and fixed costs, as opposed to period and product costs. B) Explain the difference between committed fixed costs and

A) Distinguish between these terms: variable and fixed costs, as opposed to period and product costs.

B) Explain the difference between committed fixed costs and discretionary fixed costs and give an example of each.

C) Why are more and more organizations in both manufacturing and nonmanufacturing industries adopting activity-based costing systems?

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