Theoretical Questions 1. Why are top management support and cross-functional involvement crucial when attempting to implement an activity-based costing system? Describe the IMA Statement of Ethical Professional Practice. 2. What types of costs should not be assigned to products in an activity-based costing system? 3. When activity-based costing is used, why do manufacturing overhead costs often shift from high-volume products to low-volume products? 4. What is a budget? What is budgetary control? 5. Discuss some of the major benefits to be gained from budgeting, 6. What is meant by the term responsibility accounting