1. What is the benefit of standard costing? And what is it used for?
2. Companies must prudently organize their cash flows in an efficient manner in order to meet their objectives. How do you think Companies use budgets to develop their strategic plan and meet their long-term goals?
3. Activity-Based Costing is used to allocate overhead. Using your approved company, identify the cost driver(s), and discuss how your company would implement Activity-Based Costing.