A simple description of activity-based costing is that it divides production into core activities, defines costs for those activities, and allocates costs to products based on consumption of: >> >> ? ABC abandons the traditional division of costs between products and: >> > > ABC cannot be used for GAAP reporting; GAAP requires: >>> > With ABC, cost objects are limited to saleable products and services? >> >> ABC identifies activities by type. Which type can relate to one or more units of output? > > > > With ABC, all costs must be identified, but are they necessarily allocated to an activity or cost object? > > > >