1. What are the four methods commonly used to identify the fixed and variable elements of a mixed cost? 2. Identify the strength and weakness of each method identified in question #1.

1. What are the four methods commonly used to identify the fixed and variable elements of a mixed cost?

2. Identify the strength and weakness of each method identified in question #1.

3. What is cost behavior?

4. List and explain (in detail) what are the perceived advantages of ABC (Activity Based Costing) over the 'traditional' method of cost allocation?