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A difference in GAAP-based product costing and activity-based costing is that under activity-based costing,

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A difference in GAAP-based product costing and activity-based costing is that under activity-based costing,

A difference in GAAP-based product costing and activity-based costing is that under activity-based costing,

▸ all costs are traceable, whereas in GAAP-based costing some costs are allocated.

▸ selling and administrative costs are allocated to products if they are incurred to provide resources that are consumed by unit-level, batch-level, or product-level activities.

▸ sales less cost of goods sold is classified as gross profit, whereas under GAAP this subtotal is titled contribution margin.

▸ all costs are classified as product and period costs, whereas under GAAP they are classified by behavior.

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Managerial Accounting

Edition: 4^th

Author: Davis

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