how and why hospitals use Activity-based Costing?
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how and why hospitals use Activity-based Costing?
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- What is meant by Activity Based Costing? How does it differ from Absorption costing? Is it suitable for an insurance services company?How would a service industry apply activity-based Costing?Which costing system is extensively used in the service industry for hospitals, law firms, or accounting firms? Explain why.
- What is cost accounting in the healthcare system? How are costs classified by accounting function and management function? Describe one cost classified by traceability and one cost classified by behavior. What are the four methods of cost allocation used in healthcare organizations?How would a hospital apply job order costing? Explain.Evaluation of activity based costing?
