Activity-based costing is an improved method for allocating overhead costs. Instead of using one factor for cost allocation, this new method focuses on different aspects of the production process and ...

Product-based costing is a relatively simple form of allocating direct and indirect costs to individual units of product. Activity-based costing is a more intricate system that assigns costs to ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...