Question: question 7 1. What do you understand by Activity-Based Costing? 2. What is meant by Cost Driver? Explain role of Cost Driver in tracing costs

question 7

1. What do you understand by Activity-Based Costing? 2. What is meant by Cost Driver? Explain role of Cost Driver in tracing costs to products. 3. Explain the stages in applying ABC in manufacturing company. 4. Explain the difference between Activity-Based Costing and Traditional Costing System? 5. What are the advantages of Activity-Based Costing? 6. What are the classification of activities? Explain it briefly. 7. What are the factors to be considered while adopting ABC

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