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1. What is an advantage of labeling activities as value added or nonvalue added? Provide at least two examples. 2. How is the primary focus

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1. What is an advantage of labeling activities as value added or nonvalue added? Provide at least two examples. 2. How is the primary focus of activity-based costing different from that of traditional allocation? 3. Why is it important to know the true cost for a product or service? 4. Why would managers prefer variable costing over absorption costing

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