1. Explain how broad averaging under-costs and over-costs products or services

2. Present three guidelines for refining a costing system.

3. Distinguish between simple and activity-based costing systems.

4. Describe a four-part cost hierarchy.

5. Cost products or services using activity-based costing.

6. Evaluate the costs and benefits of implementing activity-based costing systems.

7. Explain how managers use activity-based costing systems in activity-based management.

8. Compare activity-based costing systems and department costing systems