Explain activity-based product costing.

Explain unit product cost under absorption costing.

Briefly explain how a traditional, volume-based product-costing system operates.

Define the term classification of costs.

Adoption of Activity based costing?

explain the difference between target costing, skimming costing, and penetration costing.

Explain how an activity-based costing system works for product costing ?

Explain the purpose of product costing.

the role of costing and impact on profitability.

Cost assignment and cost allocation are used to support and explain the relationship between cost drivers and cost objects in assigning product costs. The relationship of direct materials, direct labor, product, and period cost type are of direct importance. Discuss and provide an example of how cost assignments and cost allocation pertain to one of the costing types. Support your rationale.