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What benefits and drawbacks are there for a business that uses a Standard / Traditional Costing model? What benefits and drawback are there for a

What benefits and drawbacks are there for a business that uses a Standard

/

Traditional Costing model?

What benefits and drawback are there for a business that uses an Activity Based Costing

(

ABC

)

model?

If you owned a small manufacturing business with relatively high volume and multiple product lines, would you implement an ABC model? Why?

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StandardTraditional Costing Model Benefits Simplicity Standard costing is relatively simple and easy to implement making it suitable for businesses with straightforward cost structures Familiarity Its ... blur-text-image

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