Laura developed an innovative handy cleaning tool. She perfected and then replicated the tool several times over, providing gifts of the tool to all of her friends. They made great birthday or special occasion gifts. Eventually, Laura started her own successful company producing her innovative cleaning tool idea. This is an example of

Which of the following statements are false regarding activity-based costing? non-manufacturing costs are important to include when calculating the cost of each product. costs are allocated based on a pre-determined overhead rate. transitioning from traditional costing methods to activity-based costing can be complicated and costly. activity-based costing follows the same basic calculation methods as traditional costing approaches. none of the above