Researching Activity Based Costing and Performance Metrics
I assigned Marty to research the use of performance metrics and to work with Jim Wilson, the marketing director, on a draft of his metrics. I tentatively scheduled an informal meeting with him and Marty for Wednesday. I then started to learn about activity based costing or ABC, as it is known to practitioners.
As usual, I started with Wikipedia, the free online encyclopedia. It offered the following:
Activity-based costing (ABC) is a costing methodology that identifies activities in an organization and assigns the cost of each activity with resources to all products and services according to the actual consumption by each. This model assigns more indirect costs (overhead) into ...
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