SAC currently uses a basic standard cost system. Management knows very little about other concepts of costing and the benefits of having multiple costing methods. Your superior has asked that you and your team put together a presentation to management explaining various costing concepts as it relates to SAC (explain the usage and benefits of each).

Individual Portion:
Write a paper to include the following:
The definition of the concept
How and when the concept could be used by SAC
How the application of the concept differs from the other concepts
Its advantages and disadvantages
Costing Concepts:
Full costing/absorption costing