Describe activity based costing and how costs are computed and assigned to cost pools. Describe how ABC differs from other costing methods. Further, describe the terms contribution margin, operating leverage, and sales mix and how each of these terms are related to cost accounting. 2. Describe why organizations create budgets. Please describe and provide examples of the following: Master Budget - include all components of the master budget Self-imposed Budget Flexible Budget Capital Budget.

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Activitybased costing ABC is a costing method that assigns indirect costs to products or services based on the activities that drive those costs It aims to provide a more accurate understanding of the ... View the full answer