Explain four basic steps required for activity based costing

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Reference no: EM131191945

Discussion 1:

Explain the four basic steps required for activity-based costing (ABC).
Define a cost driver and provide three examples.
150 Words.

Discussion 2:

Southwest Airlines has particularly emphasized the importance of on-time flight arrivals. Explain why.
What steps would you take to deal with a supervisor who asks you to falsify the results of your cost estimation?

150 Words Minimum

Discussion 3:

Fixed costs are often defined as "fixed over the short run." Does this mean that they are not fixed over the long run? Why or why not?
Is a company really breaking even if it produces and sells at the break-even point? What costs may not be covered?

Discussion 4:

Interview the manager of a restaurant. Does the restaurant make or buy soups and deserts? Based on your interview, write a short report that explains why the restaurant makes or buys each of these items.
What advantages do audits provide?

Discussion 5:

For governmental agencies, a budget places a legal limit on expenditures. As employees are asked for input into the budgeting process, what types of biases are likely to be encountered? Explain why these biases exist.
Describe the process you would go through to develop a budget for your college expenses.

Discussion 6:

In some companies, managers get workers involved in setting standards. What are the benefits of worker involvement in setting the standards?
Why are transfer prices necessary? Explain

NOTE :NO PLAGIARISM IF NEEDED INCLUDE CITATIONS AND REFERENCES

Reference no: EM131191945

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