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Which of the following are benefits of activity-based costing? (1) It recognises that overhead costs are not always driven by the volume of production. (2)

Which of the following are benefits of activity-based costing? (1) It recognises that overhead costs are not always driven by the volume of production. (2) It does not result in over or under recovery of fixed overheads. (3) It avoids all arbitrary cost apportionments. (4) It is particularly useful in single product businesses.

2 and 3 only

1 only

1 and 4 only

1 and 2 only

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