What is activity-based costing, and how can it improve an organization’s costing system? 5-5

What is activity-based costing, and how can it improve an organization’s costing system? 5-5 Describe general levels of cost hierarchy in activity-based costing systems.

What is the second-stage procedure in assigning costs to products when using an activity-based cost- ing system?

What type of company needs an activity-based costing system?