Define Activity-Based Costing (ABC) concept.

Paper details:

Part 3: Activity-Based Costing: Activity-Based Costing Video Link: How Small Planes are manufactured

1. Discuss the Activity-Based (ABC) concept:

• Define Activity-Based Costing (ABC) concept.

• Describe how the ABC costing method works.

• Why is the ABC costing method used to manufacture small planes?

2. List at least 6 activities that is included in the manufacturing process for building small planes.

3. List at least 6 items that is included in Direct Materials (items needed to manufacture small planes).

4. List at least 3 items that is included in Manufacturing Overhead (items needed by employees as they manufacture small planes).

Part 4: Quality Management and Just-In-Time Management: Quality Management/Just-In-Time Management Video Link: How Chocolate is Made

Requirement 2: Questions to be answered:

1. Discuss the Total Quality Management concept.

• Define the Total Quality Management concept.

• Describe how the Total Quality Management method works.

• Why is this method used when manufacturing chocolates?

2. Discuss the Just-In-Time Management concept.

• Define the Just-In-Time Management concept.

• Describe how the Just-In-Time Management method works.

3. List three ways of how the quality of chocolate could be determined during the manufacturing process.

4. Discuss how the Just-In-Time Management method would work in the manufacturing of chocolate.