Analyze the two costing systems below and determine which one is an ABC system,stating the reasons for your choice.
Definitions:
Markup
The gap between the purchase expense of a good or service and the price at which it's sold, represented as a percentage of the buying price.
Concentration Ratios
Measures that indicate the degree of concentration in an industry, often used to assess competition levels.
Market Shares
The portion of a market controlled by a particular company or product, often expressed as a percentage of total sales in the industry.
Competitive
Relating to or characterized by competition; having the ability or resources to compete successfully with others.
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