Reference no: EM132707495

Problem 1: Having learned different kinds of costs and the systems used to accumulate them, what kinds of costs would a social media company like Twitter or Tik-Tok, would incur? Are there labor, material, and overhead costs? Are there fixed and variable costs and direct and indirect costs? What are the types of services produced by social media companies? And how do the costs incurred relate to the services they generate?

Problem 2: As a cost accountant of a company that manufactures a single product, would you advise your company to adopt an ABC system? Why or why not? Explain.