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ABC Scavenger Hunt:

1. What year was Activity Based Costing first introduced? What was the occasion or publication?

2.Robert S. Kaplan and William J Bruns areconsidered to be the "founders" of Activity Based Costing. Briefly explain the background of each founder

(3 sentences) about Dr. Kaplan's background and accomplishments

(3 sentences) about Dr. Bruns' accomplishments .

3.Using your own words, briefly discuss the main advantages of ABC. (For example, whyis ABC considered to be superior to the plantwide rate method?)

4. Again,using your own words, discuss two main disadvantages of ABC. (Why might a company be reluctant to use ABC?)

5. Cite all references used including title, author, page numbers. (URLs are acceptable for internet resources.DO NOT USE WIKIPEDIA as a reference.)