| Category | Assignment | Subject | Business |
|---|---|---|---|
| University | Middlesex University London | Module Title | ACC2222 Accounting and Finance for Business |
ACC2222 Activity-based costing is an effective method that helps allocate various overhead costs, which are based on every product's actual consumption of resources. Traditional costing. Which broadly allocates (Hilton and Platt, 2020). ABC will allocate the higher cost of production efficiency to product A, reflecting the high level of utilization of this activity. This granularity allows for more accurate pricing strategies (Garrison et al., 2021). ABC allocates costs based on actual activity to incentivize these costs, so assigning costs to products or services is flat. ABC facilitates the identification and elimination of waste by highlighting activities that do not add value to the product or service. Organizations can accurately track the financial impact of process improvements and justify investments in technologies or systems that streamline operations or reduce costs.
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