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Activity Details:Activity 1:Cost Driver: Consulting HoursCost: $600,000Consulting Hours: 6,000Activity 2:Cost Driver: Support HoursCost: $400,000Support Hours:...

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Accounting

Activity Details:

  • Activity 1:
    • Cost Driver: Consulting Hours
    • Cost: $600,000
    • Consulting Hours: 6,000
  • Activity 2:
    • Cost Driver: Support Hours
    • Cost: $400,000
    • Support Hours: 4,000

Requirements:

  • Allocate costs to services based on activity drivers.
  • Calculate the total cost for each service.
  • Present the ABC cost allocation in a detailed table format.
  • Discuss the benefits of using ABC in cost management for service industries.

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