Activity-based costing can be used in determining the cost of services as well as products.

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Activity-based costing is a costing methodology that can be used to determine the cost of services as well as products. It involves identifying the activities that go into producing a product or providing a service and assigning costs to those activities based on their consumption of resources. This enables a more accurate calculation of the cost of a product or service, as it takes into account the specific activities required to produce or provide it.

Activity-Based Costing Can Be Used in Determining the Cost of Services