Essay Problem
Write a 2 page essay in Cost Analysis answer those questions:
a) Why are cost estimates important to an organization? What types of decisions are affected by understanding costs?
b) What are the primary challenges in determining the costs of units of production or service?
c) What are essential elements of traditional costing and activity-based costing?
d) What are some shortcomings of traditional costing vs. activity-based costing?
The response must include a reference list. Using Times New Roman 12 pnt font, double-space, one-inch margins, and APA style of writing and citations.