Eddison Electronic Company (EEC) provides electricity for several states in the United States. You have been employed as a cost accountant at this organization. As an expert in costing methods, in this assignment, you will be comparing and contrasting the following:

• Full costing or absorption costing
• Variable costing
• Target costing
• Life cycle costing
• Activity-based costing

Research each method, and respond to the following questions:

• What is the definition of each costing method?
• Discuss how, when, and if the costing method could be used by EEC.
• Discuss the advantages and disadvantages of the costing method as it relates to EEC.
• After your research is completed, provide a recommendation on which costing method is the best for the growth of EEC.