Chapter 5 - Activity-Based Costing and Activity-Based Management - Assignment Material - Questions - Page 177: 5-4

An activity-based approach to costing assigns costs to products based on the activities and resources consumed. It involves identifying activities, determining cost drivers, assigning costs to activities, and then allocating costs to products using these drivers.

An activity-based approach to costing assigns costs to products based on the activities and resources consumed. It involves identifying activities, determining cost drivers, assigning costs to activities, and then allocating costs to products using these drivers.