Which of the following statements is true?
1. An activity measure in activity-based costing expresses how much of an activity is carried out and it is used as the allocation base for assigning overhead costs to products and services
2. Activity-based management involves focusing on activities to eliminate waste, decrease processing time, and reduce defects Ml.
3. An activity based costing system is generally more difficult to set up and run than a traditional cost system.
a) None of the statements are true.
b) Statements II and Ill are true.
c) All of the statements are true.
d) Statements I and Il are true.