Journal of Management and Economics
10
https://eipublication.com/index.php/jme
TYPE
Original Research
PAGE NO.
10-24
OPEN ACCESS
SUBMITED
23 February 2025
ACCEPTED
20 March 2025
PUBLISHED
22 April 2025
VOLUME
Vol.05 Issue04 2025
COPYRIGHT
© 2025 Original content from this work may be used under the terms
of the creative commons attributes 4.0 License.
Integration of Green
Target Costing and
Activity-Based Budgeting
Riyam Mohammad Abbas
Najaf technical institute, Al-Furat Al-Awsat Technical University
Abstract:
This study aims to integrate green target
costing and activity-based budgeting as modern cost
management techniques in a men's clothing factory in
Najaf, affiliated with the General Company for Textile
Industries in Babil Governorate. This approach is based
on an integrated approach to achieve a competitive
advantage.
Accordingly, the study's problem revolves around
traditional methods, approaches, and systems in cost
accounting and management, which have become
incapable of providing useful information that helps
these economic entities in general, and those in control
in particular, meet modern requirements that enable
them to survive in this environment and achieve a
competitive advantage.
Keywords:
Target Costing, Activity-Based Budgeting,
Environmental Sustainability, Cost Reduction.
Introduction:
Globalizing of competition and rapid
changes have made businesses need to be much
stronger to avoid costs. This has led the businesses to
concentrate on cost management to the detriment of
price management. Even though prices have been
dropped to increase market share, this was less
successful than the results expected. The cost
management redistribution of a product has been
started in the whole life cycle of it by considering a new
generation cost calculation and decreasing costs.
The life cycle costs concept has the same importance as
the target cost concept of a product in the target costing
method. The target cost is determined as the design
phase specific cost objective for a product in the target
costing method. It is aimed to design the product in
accord with the target cost by developing operations in
the company. The most significant feature of this cost
management technique is that it starts at the product
design phase and, like the costing approach, it is obliged
to foresee customer needs.
The project development requires that particular
Journal of Management and Economics
11
https://eipublication.com/index.php/jme
Journal of Management and Economics
projects should be done and useful data should be
obtained. The costs incurred in the development
process of a project can be listed within this scope.
Preparation of specs for the product at the first stage
of design studies. Preparation of a model or drawings
for the product after the completion of the product
specifications. Execution of the prototype production
after the completion of the model and/or drawing
works and the tests of the product. Evaluation of the
field tests of the product as a result of the completion
of the testing studies. Making the final decisions for
mass production and providing the necessary
resources. Taking secure measures against the legal
issues of the project at all stages of the project and
briefing the costs of these processes on the product.
Understanding Green Target Costing
Target Costing is one of the strategic cost management
techniques developed in recent years, which has been
widely used in the product design and development
process in many organizations. There are a lot of
researches about Target Costing and academic studies
and in practice since it is implemented by big
companies, particularly with the entry into force of
trade agreements. On the other hand, as the number
of studies conducted on green manufacturing increase,
it will be possible to see the target costing studies of
these organizations based on green manufacturing.
Companies are expected to take their business
activities into consideration in terms of the
environment, to minimize the use of natural and
energy resources, to create less waste for disposal.
From this point of view, the necessity of reviewing the
costs with a green perspective to build eco-friendly
products is sure. The aim of the study is to reveal new
structure that can answer the target costing based on
green production needs of organizations with the help
of the Activity-Based Budgeting method, and the
integration of Green Target Costing with this structure
relates to this method, either through a case (Abdel-
Rahman, etc., 2003).
In recent years, one of the business strategies of
enterprises is the strive to establish green supply chain
management system that minimizes environmental
pollution and is in harmony with the nature. Ecological
compensation, recycling of waste products, producing
using recyclable materials are in this context. One of
the conditions for being able to implement this is to act
on the principles of Green Manufacturing. The main
strategy of Green Manufacturing is to produce
products with the environment in mind by minimizing
the waste from resources, energy and hazardous
substances, resulting in the production process. In this
project, not only resource and energy costs, but also
costs arising from environmental damages caused by
the production and operation of a product are
determined. With the method proposed in the project,
cost management of green products and / or production
systems are considered with environmental costs in a
holistic approach.
Definition and Principles
As competition increased, the need to reduce product
costs has come to the forefront, and with the increase
in globalization of the world, manufacturers, especially
in sectors such as white goods, automobile,
semiconductors and textiles, started to produce high-
quality products with low costs to the world. In Turkey,
especially starting from the 1980s, liberalization in the
economy was the main issue in this respect, and with
the effect of this, the area of validity of the August 1989
Research Technology Policy was greatly expanded. (Al-
Mahmoud, 2007) Many regulations have been enacted
to renew the sector and competitive structure of
companies operating in the defense industry, which
were opened to intense competition. The most
important regulation here is the Defense Industry
Implementation Regulation, which entered into force
on 30.12.1993. Target Costing (GC), which is mentioned
in this implementation regulation as one of the methods
to be taken into consideration in cost management, has
begun to be studied and applied in the defense industry.
The development of target costing has not passed
unnoticed in the Turkish Defense Industry. The
presidency of the Defense Industry has been carried out
by TUSAS, which was established in 1973 to design and
produce airplanes for the defense industry, including
the defense industry, research and studies on the
subject Consumption allows for the idea of taking care
(Yuksel Pazarceviren & Celayir, 2014). As a result of
these studies during the period from 1997 to today
(1997-1998) The first, second and third phases of the
introduction of GC were initiated in a total of three
stages. In the study, the experiences and applications of
one of these contractors during the third phase were
tried to be described in a comprehensive way.
While traditional cost management methods are
passed, modern methods are more research that can
provide more detailed, more accurate and healthier
product costs. Accordingly, this study Alternative Cost
Management Methods; In parallel with the change and
development in the world, the discussions on the
traditional methods based on it, as well as effective
methods GC based on Activity-based Cost Management,
whole life cycle costs, which is a developing approach
based on ABC; It is aimed to evaluate in terms of their
advantages and disadvantages. With the recent
developments in the world due to the recent
developments, the companies are faced with the
globalization phenomenon, and the entire competition
Journal of Management and Economics
12
https://eipublication.com/index.php/jme
Journal of Management and Economics
environment is reformed. While the national market
has the potential to lose its share, it also has the
capacity to compete in world markets for consumers.
(Al-Masoudi, etc.,2010) In order to continue to be
successful in this environment, all kinds of costs must
be reduced while increasing quality and product
diversity. The concept of Total Cost Management is
considered very critical at this point (Yuksel
Pazarceviren & Dede, 2015). This concept; It includes
all kinds of savings from the beginning of the
production up to the consumption of the product. It
not only deals with product costs but puts the spotlight
on cost reduction at all stages of the product, from R &
D to consumption, and is described as Cost
Management involving all units and units of the
company. Delivery of the product to the consumer
with the costs specified by the planned level of profits
in the selected competitive environment is called
Product Cost Management.
In this approach, the following are based on the basic
assumptions; At the outset, this cycle takes the form of
market research where product features and sales
prices are determined. After R & D tasks are assigned,
he takes on the design of the product with the
determined features. After the prototype is produced,
its functions are determined by testing. These activities
are followed by the processes of tool production
design, series production design, raw material
procurement, production and testing, assembly and
packaging. Then, the product is placed on the market
and it is ready for consumption. From this point on, the
product is served until it is disposed of. All these
activities are made under the control of finance until
the sale price is determined. (Al-Rubaie, 2015) The
whole activity has been a total of 13 processes. Since
the activities need resources, they need suppliers.
Relationships with both suppliers and other
departments are included within these activities. In the
light of these views, Cost Management divided the life
cycle of the product into these activities and processes,
in this way, and focused on reducing the events in
which they took part. With the direct application of this
approach, Activity-Based Management and Costing
Method are complementary novel cost management
strategies that complete the GC method in the
determination of target costs.
Historical Development
Activity-based budgeting (ABB) is a relatively new
technique in budgeting, which is used by organizations
for systematic planning and controlling of activities
whose resources are based on the activity-based
costing (ABC) method as a resource consumption
model. ABB attracts attention on growth when it is
combined with the target costing method used by
organizations to increase competitive advantage by
evaluating the product development process and costs
associated with the product before the production
operations begin. (Bierer, etc., 2013)The relation
between target costing and ABB is examined with a
model proposed by the research, and the way
businesses can use the model is illustrated (Yuksel
Pazarceviren & Celayir, 2014). Now, target costing,
green target costing, and activity-based budgeting will
be introduced briefly.
Product costing change substantially because of the
recent developments and increasing world competition
and international trade. It arises that traditional volume
based systems cannot cope with the modern
manufacturing systems any more. In order to overcome
these difficulties, activity-based costing (ABC) has been
devised by acad
emics in the late 1980’s and the number
of companies using it has been increasing rapidly since
early 1990s. This alternative method defines overhead
costs on the basis of the main activities (manufacturing
and non-manufacturing), then classifies these costs to
the cost object directly. Hence, management can reach
an accurate product cost. Thereafter, companies can
apply efficient strategies such as target costing.
Importance in Sustainable Practices
One of the goals of companies is the continuous
reducing of its costs in the industrial environment,
getting more with less. For achieving this goal, the
companies must monitor the way they use their
sources. There are two types of sources: Human sources
and the capital sources. Since these sources directly
affect the operation costs, they must be interpreted
carefully. Besides, the companies have to control what
they are produced. In other words, the companies have
to focus on producing the products that are the most
economical to produce. This decision can be made by
following the changes of the unit costs of the services
and the products that the companies serve. (Hilton,
2019) This requirement has created budgeting
applications that reveal parameter costs and easy
control of useful sources.
Overhead costs refer to a series of activities that are
carried out for the production of goods or services other
than the main factors of production labor, material and
energy. Cost reduction studies do not only consider the
cost of goods produced, but all activity costs included in
the plus cost industry. In cost studies, it is necessary to
know the unit costs of activities, products, and services,
including the costs of these services and goods.
Alternative tool applications are needed to control
utility costs of cost components. Simultaneous use of
Target Cost and Activity-Based Budgeting methods by
decision-makers increases the competition power of the
Journal of Management and Economics
13
https://eipublication.com/index.php/jme
Journal of Management and Economics
companies by decreasing the cost of the products to be
produced at the design stage. For an institution,
activity costs depend on the cost components. With
the
Activity-Based
Budgeting
method,
many
components that make up the cost increase have been
calculated. Besides the cost of components, materials
and personnel costs are also observed. Thus, it is
possible to determine the most economical order size.
Activity-Based Budgeting Explained
Activity-Based Budgeting (ABB) is the budgeting of cost
and resources required for activities from which
output is expected to achieve planned outputs for the
next operating cycle. ABB is a method of budgeting to
design an organization's future objectives and
strategies on activities spent in past periods, and it
does not prioritize activities that the business may
need to achieve its medium and long-term goals. It is a
method based on activity management instead of
resource management. (Garrison, 2018) This is a
budgeting method to evaluate activities about their
demands, whether more useful activities can be
performed toward the needs, performance and costs
of activities, and it enables the organization to focus on
activities in terms of their activational effectiveness. It
also focuses on the consumption of resources for
activities and is a good basis for managing
organizational resources. The activity management
also makes it possible to focus on the physical values,
performance levels, and cycle times of the activities
carried out (Yuksel Pazarceviren & Celayir, 2014).
Besides, ABB measures the relationship between the
completion level of certain activities and planned
objectives after converting these desires/expectations
into physical values, targets, or indicators. It is a
budgeting model with continuous development, is
based on continuous development, and aims to
establish a dynamic relationship between final outputs
and activities, which is achieved through the use rate
between the activities and resources necessary to
achieve these activities (Yuksel Pazarceviren et al.,
2015). In the ABB system, the activities required to
obtain the final product or service are determined by
analyzing
the
physical
needs
of
these
products/services, and the resources required for
these activities are budgeted by performing a software
on economic consumption standards. It is a planning
and control process of the estimated activities in the
organization, focusing on the activities and relating the
cost, time, and quality of the outputs targeted by these
investments, and it is not an operational level that can
be directed against the competition. The ABB model is
a process of combining environmental (competition,
economic, technological, legislatively) and behavioral
data to make strategic inferences of economic
resources necessary for ensuring fulfillment of planned
objectives for a certain future time period.
Concept and Framework
In this study, activity-based budgeting as a budgeting
method based on activity management is create
adhered to the application framework of green target
costing model, adapted from the target costing based
on the activity-based costing method and a model
proposal.
The formation
of
the
competitive
environment urges cost management for businesses.
The activity-based budgeting (ABB) as a budgeting
method for activities is started by determining cost and
amount of the resources required for the activities to
achieve planned output. This method can identify the
cost of each activity and business can follow these costs
carefully. (El-Shamy, 1999) Green target costing-based
ABB can adapt this budgeting method with
environmental concerns (Yuksel Pazarceviren & Celayir,
2014). There are various definitions of green target
costing. The target costing is more comprehensive that
product cost management approach encompasses a
large variety of planning, controlling, and finally
decision-making tools. At its underlying principle is
feature planning procedure which product lifecycle
costs are considered backwards. All those cost
consideration are revealed through comparison of
planned or desired price; Target costing fits in well with
some other cost management practices, particularly
with Below-the-line quality or Cost-of-quality project
evaluation (Yuksel Pazarceviren & Dede, 2015). Activity-
based costing (ABC) is a costs accumulation and
attribution method, highlights the activities occurred
during the process of the absorption of main resources.
A common way to describe it is simplifying cost
accumulation method that can produce more accurate
and exact cost expenses, thereby, more meritorious
cost analysis and decisions choosing. However, the ABC
has certain onus. (Drury, 2018) The method requires
huge quantities of data and its interpretation. A product
in the manufacturing sector could every single
component be defined as a cost object, many
supporting processes necessary for couple of main
activities, meaning that the number of activities could
extraordinarily increase; it could be infeasible to
undertake action on cost and processed data.
Benefits Over Traditional Budgeting
This study aims to generate low cost, less environment
harm in product design phase concepts, while the
production strategy is establishing, especially at
developing countries. General purpose of this activity-
based synthetical approach is to establish considering
importance of efficiency and the opportunity of
expenses at the same time, by means involving financial
Journal of Management and Economics
14
https://eipublication.com/index.php/jme
Journal of Management and Economics
point of views with a productivity point of view.
Today’s
expanding
competitive
environment
necessitates production of the goods with the lowest
cost, while demanding to be sensitive on environment.
Besides, each budget item happens as a research field
needs to assess and to monitor costs of activities and
resources. Activity based budgeting is a synthetical
approach which eliminates to consider financial
outputs as a separate from productivity in designing
phase by means incorporating activity data with
financial data. (Jabbar, 2021) When assessing to
budget limits at considering are identified product or
material and budget analysis for yearly progression is
the development of the expenses. Because established
budget item costs necessitate to be using
conservatively. Because, the main goal of the business
is to keep expenses below estimated expenses.
Because, "environmentally friendly" production sales
increasing yearly dictate to eliminate environment
pollution and reducing production time and increasing
production efficiency.
Abbreviations are defined as ATB (Traditional target-
based Target Costing), GTC (Green Target Costing), and
OC (Overall Cost). There is also a definition section in
the previous of the study. The current literature has
been searched and it has been realized that a study
joining ABB (activity-based budgeting) and TC (target
costing) methodologies does not exist in benchmarked
fields. More than 25 references in these fields don’t
give applicable information. Therefore, the references
which are up to date and descriptive are chosen in
order to give an applicable view of the mentioned
methodologies commonly used by public companies.
At last, company has been asked to try another project
proposal. ABB-TC tool which can be used by
organization has been developed. Company has
planned to replicate this tool for every project
proposal, and then to evaluate the timing of the timing
realization of project expenses (Yuksel Pazarceviren &
Celayir, 2014). In developing countries, in new
established companies, and in the time of establishing
new strategies. ABB (Activity Based Budgeting) is a
budgeting approach which becomes prominent on
activity levels. In this frame, it’s possible to get
explanatory values for unambiguous activities. By
using those values, the costs of those activities can be
obviously estimated, and can be calculated. In the time
of getting a marketoriented production strategy in
developing countries, especially public companies, in
order to achieve low cost strategies, choosing suppliers
and/or internal production units, TC (Target Costing)
methodology is used respectively.
Implementation Challenges
The case study aimed to prepare an application in
company facilities in a ready-to-wear textile enterprise
in Istanbul. The application includes the determination
of the activities attributable to the phases of the target
cost analysis of a product developed based on the Green
Target Costing method and the determination of the
cost index for the detailed planning of the activity cost
budget of the product. The cost index for the basic data
of the Green Target Costing method was calculated by
setting up the Activity-Based Budgeting based cost
accounting system. Thus, the calculation of the green
target cost, as well as the development of a product in
line with the green target cost, was supported by the
accurate calculation of the cost index. (Al-Ati, 2019) The
activity cost budget of the product developed was
realized by determining the activity amounts and the
cost targets to be achieved in them. The case study on
the enterprise produced intermediate and final
products in small, medium and large series as a
contracted enterprise in Istanbul, that better
comprehends market changes. Marketing and concept
design are performed in the factory and the product is
manufactured in the production-enterprise.
Implementation of the Green Target Costing and
Activity-Based Budgeting in company facilities are
considered a benchmarking study for ready-to-wear
textile enterprises. It is thought to be the most accurate
approach in terms of the cost accounting systems to
reveal the resource consumption and performance
levels in activity groups. Although detailed information
is requested from outsourced contractors, it has been
difficult to obtain detailed data since all organizations
have their own strategies. (Al-Dafii, etc.,2019) The aim
is to provide new perspectives for the operation of
small-size enterprises in such working establishments.
In Istanbul, it was observed that the transfer of brand
companies from manufacturing to marketing has
become one of the most widely applied strategies, and
that the production of many goods has turned to
contracted subcontracting. On the other hand, they
take into the contracted production and diversification
of products in a difficult market. There are many small
businesses needed to further increase production speed
and efficiency.
Synergy Between Green Target Costing and Activity-
Based Budgeting
Probably the most important change in cost accounting
has been in the minds of its users. Traditional cost
accounting emphasized the fulfilment of the
requirements of external financial reports, with the
result that cost accounting has been used for inventory
valuation purposes for a long time. But the imprecision
of the commonly used costing systems also began to be
realized for decision-making and strategic planning. This
has led to a considerable increase in the number of
Journal of Management and Economics
15
https://eipublication.com/index.php/jme
Journal of Management and Economics
alternative approaches during the last decade (Yuksel
Pazarceviren & Celayir, 2014). One of the new
paradigms in this context is activity-based costing
(ABC). ABC aims to reflect the new cost realities, which
are nonproduction costs and costs consumed by
activities. In making a costing determination, ABC
utilizes cause-and-effect relationships to link overhead
costs to the products, customers, and facilities that
create the need for these overhead resources. After
the introduction of ABC, activity-based management
(ABM) applications started to grow. (Al-Mahmoud,
etc.,2018) A natural extension of ABC is found to be in
budgeting. By extending ABC to a broad-based
operational costing system with a forecasting horizon,
a logical basis is established for budget decisions and
plans, thus making possible the establishment of a
broad-based management system that leads to a
variety of follow-up analyses, starting with the setting
of annual cost containment goals.
A starting point in the budgeting regarding the ABC is
generally the classification of activities that consume a
broad spectrum of particular resources over a long run.
Hence, the nature of this decision makes the company
undertake or release some resources, or at least to
reduce the amount of some resources. (Burns, etc.,
2013) A nother useful output is the performance
measure of the activities, since it is assumed that it is
enough to monitor their total costs. One of the most
important decision processes of companies is the
introduction of a new product to the market. ABC with
its strategic approach can make a great contribution at
this point. By linking a target costing with the ABC
model, companies can determine the target cost of a
product to be launched in the future, using the actual
performance attributes, and also assesses the
implications of the target cost in terms of the existing
cost structure of the company. On a separate note,
today’s environmental concerns have a big impact on
cost issues, especially in companies using many natural
resources in the production input. Therefore, the need
for a new approach has arisen for the survival of the
companies in competitive market conditions, and this
new approach is believed to be green target costing
(GTC). (Berk, 2010) Green target costing applications
supported by ABC systems are likely to produce
valuable results for companies.
Complementary Nature of Both Approaches
Activity-Based Budgeting is the other approach of the
new conception budget. Together, the Green Target
Costing and Activity-Based Budgeting are the new
comprehensive approach. This new approach
constitutes a new perspective to the existing literature,
which offers a more strategic cost management
approach and considers analysis of environmental
activities in firms in a more holistic way (Yuksel
Pazarceviren & Celayir, 2014). This research explores
the complementary nature of both approaches and
aims to suggest this balanced approach in an integrated
way to increase efficiency in environmental cost.
Since the issues about the environment are more
impacting on the competitive environment of the firms,
the firms have more realized that they have to control
their environmental costs. The internal characteristics
of the firm have a determining factor on why or why not
firms engage in environmental activities and also to
what extent. With respect to this consideration, more
strategic cost management approach for environmental
activities is essential in firms. (Datar; 2018) Although ex
post control systems are generally used to control the
environmental costs occurring in the firms, the effective
control of environmental costs in firms and the
implementation of cost-effective activities necessitates
ex ante control. As with the development of new and
effective control mechanisms for environmental costs,
an ex ante control system carries more importance for
many firms. However, there is a scarcity of models
developed for cost planning and the control of
environmental activities ex ante. The existing models
reveal the need to control costs regarding
environmental activities by taking production volume as
basis. (Garrison, 2018) The existing models do not
consider analysis of the environmental activities in firms
in a holistic way; they rather concentrate directly on
production operations and ignore a significant part of
the other types of environmental costs such as the costs
due to energy consumption.
Case Studies of Successful Integration
The construction of composite methods respecting the
target costing within the framework of Green Target
Costing and Activity-Based Budgeting has taken place in
the section heading. Reflected case studies are currently
realized to separately explore the integration of these
two primary methods with companies. (Al-Saghir, 2011)
Various confidential meetings have taken place and
significant data was collected in the synthesis of
targeted methods with the companies in question.
Consequently, the case study analysis of successful
integration is illustrated concerning the confidentiality
clauses of the companies. Method application guideline
preparation based on successful implementation was
carried out through detailed case study analysis and
synthesis results. In a competitive environment,
companies are focusing on more sustainable production
in an environmentally friendly way. (Abdel-Sadek,
rtc.,2005) Green production is increasingly displayed in
companies, and therefore a new costing method was
developed, Green Target Costing. Currently, there are
no studies allowing the construction of a budget target
Journal of Management and Economics
16
https://eipublication.com/index.php/jme
Journal of Management and Economics
method in the framework of business activities
approved by the activities supporting the target price
calculations of the Green Target Costing method in the
literature. For the first time, a uniform method
construction guideline is produced for such companies.
Although the companies that have addressed different
shortcomings in the literature are the subjects of the
investigation, for confidentiality purposes, the
guideline will be limited to calling separately. (AL-Sqir,
2011) Activity-Based Budgeting analysis is carried out
for activities that are necessary in companies to
facilitate target costing studies. Main materials using
information are presented to portray activities toward
companies. To standardize missing information and
time intelligence for activity, a new method is
proposed. The method limits manufacturing, service,
or commercial operation cycle using time intelligence.
Then, the usability of unique form prepared in target
price calculations is examined. Target cost calculations
are applied using the proposed form. Target price
calculations are compared with the company’s
calculations. As a result, it is revealed that there is
serious proximity between the results and their
usability in companies.
Analysis Techniques
Activity-Based Budgeting A simple definition of
activity-based budgeting is the budgeting of cost and
amount of the resources required for the activities to
achieve the output planned for the next operating
cycle (Yuksel Pazarceviren & Celayir, 2014). In the
business world, ABB can be defined as a budgeting
method based on activity management that
concentrates on activities that maintain operation,
leading to increasing build of value, rather than
management of the resources used for the activities.
ABB
embodies
continuous
development
and
establishment of a dynamic relation with final outputs
regarding activity realization planned in future periods
through use rate between activities and resources.
ABB concentrates on activities, and cost, time, and
quality which make strategic objectives of the
organization are interrelated at the activity point of
view. ABB is the newer management approach
compared to other costing techniques in the context of
their origin. As is known, ABB has emerged with the
approach of Abc/M As. Activity-based management
instead of traditional methods has necessitated a new
budgeting method, ABB.
Green Target Costing A simple definition of green
target costing is defined as the review of the whole
production with the approach to the environmental
effects and the determination of the limits for the
production cost before the production step through
the review of the possible effects and creation of an
appropriate price for the final products. However, with
the spreading of the Awareness of Care in the
Environment Worldwide, the Green Target Costing is
Coming to the Forefront. In the researches conducted
on this subject, it has been understood that Gtc is not
an easy process and it needs to be evaluated within the
scope of the following elements. Even if there is a
separation, GT is a unique method similar to standard
cost system, and Gtc is considered as a development of
target cost method. The main cost understanding of GT
is defined as, every product has an inherent cost and the
company's target, Realization of the given quality
conditions within the list price. However, the sector’s
competitors' prices were the determining factor in the
determination stage. Fixed price market, intensive.
Smes or production companies with limited product
range are the solution methods from the competitors.
However, fixed costs and production volume are not
directly proportional in the production technique
arrangements; this will create a loss of control trend in
the production cost.
Literature Review
The purpose of this study is creating a model for Green
target costing based on ABC including the Sale Process
of a product. The basis assumption of this study is Green
target costing and ABC mutually complementary
methods. Featured aspect of this study is target cost
includes the cost including pre- and after-sale process.
The development of service firms was explained in
terms of the overall process of diffusion of this
particular innovation. Activity-Based Costing (ABC) is a
relatively new technique that provides managers with
the ability to allocate costs to products and services
based on their actual consumption. Malaysian
manufacturing companies are increasingly adopting
ABC systems. The purpose of this empirical study is to
provide a comparative analysis of the factors affecting
the diffusion of ABC.
Activity-based budgeting (ABB) process development is
focused. The ABB differs only in the way direct costs are
included in the when compared with a traditional target
costing. For example, target cost = target price
–
target
profit in both target costing and in ABB. However, while
setting target cost in ABB, resources of activities which
are to be consumed in future periods are used. On the
other hand, when setting target cost in target costing,
design and of product is considered. The proposed
approach a combination of green target costing and
activity-based budgeting (GC & ABB) is introduced
offering the capability to better simulate and control
green cost management of a product.
Previous Studies on Green Target Costing
In the present competitive marketing conditions, in
Journal of Management and Economics
17
https://eipublication.com/index.php/jme
Journal of Management and Economics
order to achieve a sustainable competitive advantage,
companies need to manage their costs effectively. The
importance of cost management is increasing due to
industrialization, globalization and the speed of
technology development. Cost management has been
directed toward new generation cost management
techniques to adapt to changing conditions. One of
these techniques is green target costing, which adopts
a holistic and innovation-oriented approach. Green TC
directly collects environmental cost data in the
decision-making process and uses data in the price
formation and process of the product. As a result, this
innovative approach has helped to improve the
environmental performance of products and reduce
the cost of the product. ABM has been proposed as a
solution to integrate ATC. ABB approach is expressed
as an output, as the best cost alternative is to be
chosen in the selection of possible alternatives.
Possible alternatives are evaluated according to the
scope of the target value approach and the alternatives
are evaluated on a monthly basis, not in a separate
evaluation. In this study, a methodology that can
facilitate the operational application of the ABB
approach as an output arising from the harmonization
of the green AC and the ABB approach is proposed.
Development cannot be achieved without protecting
the
environment
and
conserving
resources.
Manufacturers now examine all of their activities and
make changes to reduce or eliminate the waste they
generate. This is recognized as a waste prevention
campaign or green production. The harmful effects of
industry on the environment are increasingly discussed
in the international arena with a growing sensitivity to
global warming and climate change. On the one hand,
legislation imposes a series of obligations on
companies to reduce these effects, and on the other
hand, consumer concern about the environment
causes a change in production priorities and the
growth of environmentally friendly products. In this
competitive environment, companies aim to create
and maintain strategic competitive advantages
through their activities. Today, maintaining emphasis
on product quality is not enough to be compatible in
terms of price, quality, performance, appearance,
quality and delivery in the international marketplace.
6.2. Previous Studies on Activity-Based Budgeting
In the 1990s, a significant change occurred in
competitive environments of industrial companies.
Rapid changes in technology and customer
preferences indicated that the mass production of
companies should be abandoned and the cost
accounting system should accordingly be changed.
Activity-based costing (ABC) is a product costing
method that adds activities of the cost centers other
than the productions costs in the traditional product
costing systems. Consequently, ABC assigns overhead
costs to the products more accurate than the traditional
costing system (Yuksel Pazarceviren & Celayir, 2014).
Although ABC provided a fair approach to the cost
allocation, the cost management had to be managed on
the activities to reduce the cost. Because activities are
the process of satisfying or meet up the customers
demand. The relation between the activities and the
costs of the activities can be analyzed by relating the
activity costs with the activity level and the number of
activities. Consequently, Activity-Based Budgeting (ABB)
is the process of managing and estimate the costs of the
required activities to get the desired output level (
僚祐
et al., 2007). The costs need to be spent in the planned
activities are determined in the budget. The activities in
the organization are the work series and steps that are
planned to produce a product and to offer a service. ABB
is parallel to the activity life cycles so; it is known that
the activities have identified in the life cycle. ABB is
focused on the resources need in the activity
management. Hence, the resources of the produced
products and services in the activities to get a product
or service in the organization are investigated, the cost
centers are determined and the necessary resources for
the cost center activities are estimated and then the
budget is made. With using the budgets, the
expenditures made in the activities are controlled and
the decisions over the cost management and the activity
management are revised. However, a comprehensive
knowledge should be gained over the activities and the
management of them.
Gaps in Existing Literature
There are several available relevant studies on
management accounting and costing practices: from
the adoption of advanced systems of cost planning and
control (Cinquini et al., 2008) to the significance of how
particular practices are shaped, adapted, and diffused in
manufacturing-based organizations, as well as the
pressure to adopt new advanced methods of production
planning and control to study the question of the
appropriateness of Activity-Based Costing (ABC).
Increasingly prevalent are studies investigating ABC
adoption itself, investigating in the round firm
characteristics or investigating ABC adoption in
conjunction with other events, such as the
implementation of cost management practices more
generally as a result of Total Quality Management or
just-in-time initiatives. At a time of wider choice
geography of cost accounting systems use, the
determinants can be categorized in different ways, such
as by explaining the choice of particular systems not
being influenced by a firm’s wider characteristics (e.g.
size, industry, technology, ownership); by examining
Journal of Management and Economics
18
https://eipublication.com/index.php/jme
Journal of Management and Economics
firm
–
system interaction with a focus on some forms of
fit (correspondence, moderation, mediation) as
detailed in contingency theory; and by investigating
the sequences of events surrounding system change.
More recent work has concentrated on how costing
systems are put to use, e.g. analyse the effect of
changing management accounting practices on
performance on a period-by-period basis rather than
attempting merely to infer a contemporaneous
relationship. The review concludes that overall, ABC
has not been shown to have any greater impact on firm
performance than traditional systems of cost planning
and control. This perceived need has arguably
contributed to the poor fit between firms and ABC,
further limiting potential benefits and thus hindering
potential.
DISCUSSION
The study proposes a new ABBS model, which is an
abbreviation of Activity-Based Budgeting of Support
Activities, that helps the managers to determine the
total activity expenditures according to cost drivers
whose effect on the activity expenses can be found.
ABBS, which is a parametric model, can be used both
in the first and the second steps of the Green Target
Costing Methodology. Because besides the effect of
the volumetric capacity, the effect of the investment
has made on the waste treatment systems on the
mechanism of the increase in the price of the activity
expenses referring to the pollution treatment activities
can also be determined. This model is applied to a case
company. After the integration of GTC and this ABB
model, the environmental management team of the
case company achieved a competitive pricing strategy
for their new products.
Implications for Businesses
This article deals with the integration of green target
costing and activity-based budgeting; the main goal is
to understand the implications for businesses. The
article consists of 3 parts. The first part is a synthesis of
literature review including green marketing, target
costing, activity-based budgeting, green target costing,
and activity-based budgeting applications. The second
part states the materials and methods, followed by the
presentation of the model towards the integration of
green target costing and activity-based budgeting. The
third part provides a detailed discussion of the model,
key findings, limitations, and avenues for future
studies.
A ‘manufacture
-consumption-
destruction’ cycle in the
industrialized countries, where the bulk of industries is
situated, is a major cause of serious global pollution in
the form of waste, emission of pollutants and energy
loss, all of which have been seriously curbing human
health. To combat this, many industrialized countries
have tightened the legal provisions related to
environmental protection, pressurizing industries to
develop environmentally friendly products and
processes. The growing realization of this changed
scenario, coupled with the environmental deterioration
increasingly drawing consumer’s attention, has given
rise to the new concept and practice of ‘green
marketing.’ The introduction of stringent environmental
laws and the growing concerns of WTO have heightened
the crosscurrent of green pressures on domestic
manufacturers participating in export markets.
To succeed in green marketing, manufacturing
strategies must integrate it at the product design and
development stages. This is where target costing (TC)
comes in. In target costing, the target cost of a given
product is ascertained first and later the technical
specifications and the required resources are
determined to confirm to the target cost, which, in turn,
dictate the design of the product. (Yuksel Pazarceviren
& Celayir, 2014) With the development of many design
and industrial engineering technologies, the design and
development duration is getting ever shorter and vital
cost information may not be available at the early
design stage. Consequently, the traditional cost control
cannot meet the need of cost management of green
marketing products. Activity-based budgeting (ABB) is
called for, which is a technique within the broader
framework of AVM (activity-based management).
(Tamur, 2013) For two decades, activity-based costing
(ABC) has attracted strong interest from both academia
and industry and has remained a popular academic
research topic. It is known that expert systems can
support decision-making processes effectively. Even
though their capabilities do not go beyond the
knowledge base, they provide the opportunity to
analyze problems in a systematic way and therefore
cover the interdisciplinary nature of the decisions-
making processes.
Practical Aspect
1.
An Introductory Overview of the State Company for
Textile Industries in Hillah
The State Company for Textile Industries in Hillah was
established in 1967 as part of the Iraqi Ministry of
Industry and Minerals. It is one of the ministry's most
important industrial entities. The company began with a
single factory, called the Fine Spinning and Weaving
Factory, which produced cotton, silk, and other fabrics.
In 1976, another factory, called the Hillah Textile
Factory, was established, producing cotton and koplan
fabrics. The company underwent changes over the
years, with its name being changed to the State
Company for Textile Industries - Hillah in 1997. In 2005,
Journal of Management and Economics
19
https://eipublication.com/index.php/jme
Journal of Management and Economics
the State Company for Cotton Industries in Hillah,
Diwaniyah, and the Men's Clothing Factory in Najaf
were merged into the State Company for Textile
Industries in Hillah, becoming subsidiary factories. The
State Company for Textile Industries in Hillah also
became one of the leading industrial companies in
Iraq, taking over the production of various fabrics. The
company continues to improve and develop its
operations to meet the diverse needs of the market
and strengthen the country's industrial sector.
With regard to the company's objectives, it seeks to
support the national economy in the textile industry by
producing a variety of fabrics, encompassing several
factories and plants that meet these objectives.
2.
The costing system applied in the study sample factory
The fundamental pillar of any manufacturing company
depends primarily on the nature of the costing system
applied within it. Most decisions made by senior
management are based primarily on decisions related to
pricing, production, and other important administrative
decisions, based on the cost information generated by
this system. Through studying and analyzing the reality
of the costing system adopted by the study sample
factory, the researcher found that the factory,
unfortunately, does not follow a unified accounting
system in its approach to the process and classification
of cost elements and the preparation of its financial
statements.
Production capacities for the men's suit product for the
following years:
The table above illustrates the production capacity
(designed capacity, available capacity, planned
production, and actual production) of the men's suit
product. We clearly note how the actual production
volume of this product has decreased significantly
compared to different capacity levels. This decrease is
attributed to changes in the competitive business
environment, as the focus is on this product alone. The
application of the study's topic to it is due to the
product's importance to the factory in general and
customers in particular, and its high selling price
compared to competing imported products offered in
the local market. Furthermore, the men's suit product
possesses several basic components that, when
applied, reflect the work of the departments involved
in its production, as well as the practical activities
performed by these departments from the beginning of
the production process through to the final product.
This latter product enhances the possibility of applying
the study's techniques related to green target costing
and time-driven activity-based budgeting, contributing
to time management and cost reduction as a tool for
achieving a competitive advantage under current
competitive conditions by producing products that
meet customer requirements in terms of sustainability,
competitive pricing, quality, and production time. 3.
Planned operating costs for the chest, jacket and
hoodie sewing department for the year 2024
N.
Activity
Activity
Event
Time (Minutes)
Cost Per Unit of Time
(Dinar/Minute)
Operating
Cost
1
Receiving
and
transporting
raw
materials + sewing
33.58
179.6834
6033.7686
2
Receiving
work
orders
and
materials requests
1.8
287.9086
518.23548
Journal of Management and Economics
20
https://eipublication.com/index.php/jme
Journal of Management and Economics
3
Planning, designing,
and
evaluating
templates
+
preparing
work
orders
0.9
78.9259
71.03331
4
Signing documents
0.5
75.6185
37.80925
5
Inspecting
completed work
1.25
71.1981
88.997625
6
Maintenance
1.2
73.4522
88.14264
7
Transferring
completed work
1
78.3613
78.3613
8
Total
6916.3482
Using the table above, we can calculate the planned
operating costs for the other divisions involved in the
production of men's suits in the same manner. The
calculations were carried out as follows:
A. Planned operating costs for the sleeve preparation
and sewing division = 4,908.8157 dinars.
B. Planned operating costs for the lining preparation
division = 4,193.5635 dinars.
C. Planned operating costs for the back and lining
preparation division = 6,304.1554 dinars.
D. Planned operating costs for the jacket assembly and
collar-to-div binding division = 7,532.9720 dinars.
C. Planned operating costs for the belly binding division
= 5,099.2134 dinars.
H. Planned operating costs for the final sewing,
inspection, cleaning, and packing section for the jacket
= 9,216,1624 dinars.
G-C. Planned operating costs for the front of the pants
sewing section = 7,570,4277 dinars.
D-D. Planned operating costs for the back of the pants
sewing section = 6,336,1580 dinars.
I-D. Planned operating costs for the side seam joining
section = 3,671,7667 dinars.
R-D. Planned operating costs for the waistband joining
section = 4,920,9818 dinars.
G-G. Planned operating costs for the seat sewing
section = 2,897,3643 dinars
Journal of Management and Economics
21
https://eipublication.com/index.php/jme
Journal of Management and Economics
S-S. Planned operating costs for the trouser tuck, cleaning, and packing section = 2,694,4994 dinars.
Calculating the planned cost of the product
After calculating the planned operating costs for each
division responsible for the production process of the
men's suit product, using information obtained from
the various resource groups, this was done through
addition. The required cost of the material element
used in each division was added to the operating costs
to derive the total manufacturing cost. Marketing and
administrative costs were also added for each division
to obtain the total planned cost of the men's suit
product, as shown in the following table:
Explain the cost reduction process for direct materials
used in the production of men’s suits for the research
sample factory for the year 2024.
Men's suit production
divisions
Material
cost
Operating
costs
Cost
of
manufacturing
Marketing
and
administrative cost
10%
Total
Jacket front seam and
collar tying
12574.5
6916.3482
19490.8482
1949.0848
21439.933
Preparing and sewing the
sleeve
4933.85
4908.8157
9842.6657
984.2666
10826.9323
Preparing the lapels
3454.2
4193.5635
7647.7635
764.7763
8412.5398
Preparing the back and
collar of the jacket
7001.32
6304.1554
13305.4754
1330.5475
14636.023
Assembling the jacket,
joining the collar to the
div, and tying the
sleeves
308.05
7532.972
7841.022
784.1022
8625.1242
Tying the lapels
350.975
5099.2134
5450.1884
545.0188
5995.2072
Final seam, inspection,
cleaning, and packing the
jacket
10646.6167
9216.1624
19862.7791
1986.2779
21849.057
Sewing the front of the
pants
15304.5504
7570.4277
22874.9781
2287.4978
25162.4759
Sewing the back of the
pants
13530.2288
6336.158
19866.3868
1986.6387
21853.0255
Tying the sides of the
pants
4950.5189
3671.7667
8622.2856
862.2286
9484.5142
Tying the waistband of
the pants
10403.692
4920.9818
15324.6738
1532.4674
16857.1412
Sewing the seat
3582.6168
2897.3643
6479.9811
647.9981
7127.9792
Pants' hem, cleaning, and
packing
5057.0734
2694.4994
7751.5728
775.1573
8526.7301
Total
133411.06
72262.429
205673.489
20567.3489
226240.8379
Journal of Management and Economics
22
https://eipublication.com/index.php/jme
Journal of Management and Economics
N.
Men's suit
production
divisions
Material
cost
Operating
costs
Cost of
manufacturing
Marketing and
administrative
cost 10%
Total
1
Jacket front
seam and
collar tying
12574.5
6916.3482
19490.8482
1949.0848
21439.933
2
Preparing and
sewing the
sleeve
4933.85
4908.8157
9842.6657
984.2666
10826.9323
3
Preparing the
lining
3454.2
4193.5635
7647.7635
764.7763
8412.5398
4
Preparing the
back and
collar of the
jacket
7001.32
6304.1554
13305.4754
1330.5475
14636.023
5
Assembling
the jacket,
attaching the
collar to the
div, and
tying the
sleeve
308.05
7532.972
7841.022
784.1022
8625.1242
6
Tying the
lining
350.975
5099.2134
5450.1884
545.0188
5995.2072
7
Final seam,
inspection,
cleaning, and
packing the
jacket
10646.6167
9216.1624
19862.7791
1986.2779
21849.057
8
Trousers
front seam
15304.5504
7570.4277
22874.9781
2287.4978
25162.4759
9
Trousers back
seam
13530.2288
6336.158
19866.3868
1986.6387
21853.0255
10
Tying the
sides of the
trousers
4950.5189
3671.7667
8622.2856
862.2286
9484.5142
11
Tying the
waistband
10403.692
4920.9818
15324.6738
1532.4674
16857.1412
12
Sewing the
seat
3582.6168
2897.3643
6479.9811
647.9981
7127.9792
13
Pants
cleaning and
packing
5057.0734
2694.4994
7751.5728
775.1573
8526.7301
14
Width lining
2975
1750
4725
472.5
5197.5
15
Front
adhesive
2835
3150
5985
598.5
6583.5
16
Canvas
1275
2500
3775
377.5
4152.5
17
Textile
adhesive
padding
468
1560
2028
202.8
2230.8
18
Pocket lining
1500
1500
3000
300
3300
19
Gauze
39.9
3000
3039.9
303.99
3343.89
Journal of Management and Economics
23
https://eipublication.com/index.php/jme
Journal of Management and Economics
CONCLUSION
1.
Improving Environmental Efficiency: Integrating green
target costing and activity-based budgeting helps
improve an organization's environmental efficiency by
reducing the negative environmental impacts of
production activities.
2.
Reducing Costs: Using activity-based budgeting,
activities that cause excess costs can be identified and
worked on to improve or eliminate them. This
enhances the application of green target costing to
improve overall cost performance.
3.
Achieving
Sustainability:
Integrating
the
two
techniques contributes to achieving sustainability by
reducing the use of natural resources and waste, which
has positive impacts on the environment and the
company as well.
4.
Enhancing Competitiveness: Integrating green target
costing and activity-based budgeting improves product
quality and reduces production costs, enhancing the
company's competitive advantage in the market.
5.
Improving Customer Satisfaction: Using both
techniques, companies can better meet customer
requirements by offering high-quality products with
superior environmental performance, which enhances
customer satisfaction and loyalty. 6. Improving
Decision-Making: Integrating these two technologies
provides accurate and comprehensive information on
costs and environmental activities, which improves
management and strategic decision-making.
REFERENCES
Abdel-Rahman,
Atef
Abdel-Meguid
(2003):
“Introduction to Specification Analysis for Developing
Cost Management Systems and Supporting the
Competitiveness of Egyptian Business Organizations”,
Scientific Journal of the Faculty of Commerce
–
Assiut
University, No. 34, pp. 105-151.
Abdel-
Sadek, Osama Said (2005): “The Impact of
Integration between Strategic Cost Management and
Strategic Analysis of Operational Entry on Activating
Competition Strategies in the Egyptian Market”, The
Egyptian Journal of Business Studies, Faculty of
Commerce - Mansoura University, Volume Twenty-
Ninth, Issue One, p. pp.: 181-244.
AL-
Sqir, M.A.M (2011): “Proposed framework for
integration between the cost of specifications (ABC11)
and materials consumption accounting (RCN) for the
purpose of supporting the competitiveness of the
faculty College of commerce, Suhaj university, pp 78-82.
Al-
Ati, Marwa, Nayly Mariam (2019): “Integration
between the ABCII-specific costing method and the TC
target costing method.” Master’s Thesis in Acco
unting
and Finance, Faculty of Economics, Commercial and
Management Sciences, AlgSeria.
Al-Dafii, Safaa Mahmoud Muhini and Al-Khalaf, Nidal
Muhammad Reda (2019): “The Role of the Specification
-
Based Cost Entrance in Reducing Quality Costs” Journal
of Al-Rafidain University College of Science, Al-
Mustansiriya University. College of Management and
Economics, Issue 44:1, 15.
Al-
Mahmoud, Ruqayya Mahmoud Eshel (2018): “Using a
cost-measuring roll on the basis of specifications in
order to reduce the cost of the
product”, Volume 9,
Issue 1: 22.1.
Al-Mahmoud, Saleh Abdul-
Rahman (2007): “Developing
an approach to measuring costs based on specifications
with the aim of optimizing the use of available energy”
Scientific Journal of King Faisal University for Humanities
and Administrative Sciences, Vol. 8, No. 2, Al-Ahsa, pp.
149-219.
Al-
Masoudi, Haider Ali Jarad, (2010): “Managing Quality
Costs Strategically”, Al
-Yazuri Scientific Publishing and
Distribution House, Jordan, Amman.
Al-Rubaie, Muhammad Ali Muhammad (2015):
“Integration of cost measurement based on
specifications and target costing technology and its
impact on achieving competitive advantage / An applied
study in the General Company for Electrical Industry /
Ministerial Branch” Higher Institute for Accountin
g and
Financial Studies, University of Baghdad.
Al-Saghir, Mohamed El-
Sayed Mohamed (2011): “A
proposed framework for the integration between the
entrance to the specification cost and the accounting of
resource consumption for the purposes of supporting
t
he competitiveness of the enterprise” Journal of
20
Brim
240
3000
3240
324
3564
21
Fabric
6000
8287.5
14287.5
1428.75
15716.25
22
Refrigerator
150
250
400
40
440
23
Nylon bag
50
100
150
15
165
24
Suit bag
900
2400
3300
330
3630
Total
133411.06
72262.429
205673.489
20567.3489
226240.8379
Journal of Management and Economics
24
https://eipublication.com/index.php/jme
Journal of Management and Economics
Contemporary Business Research, Volume 25, No. 1,
Egypt.
Berk. Joseph. (2010): ” Cost Reduction and
Optimization for Manufacturing and Industrial
Companies ” John Wiley Sons, Inc. Hoboken, New
Jersey.
Bierer
, A., Meynerts, L., & Götze, U. (2013): ” Life Cycle
Assessment and Life Cycle Costing-Methodical
Relationships”, Challenges and Benefits of an
Integrated Use. In Re-engineering Manufacturing for
Sustainability (pp. 415-420), Springer, Singapore.
Burns, John, Quinn, M, Warren, L., (2013): "Managerial
Accountin", 1 st Edition, The Mc Graw- Hill, Higher
Education.
Datar; Srikant M. & Rajan, Madhav V. (2018): "
Horngren’s cost Accounting A managerial Emphasis "
16th EDITION; PEARSON.
Drury, C., (2018): "Managerial and Cost Accounting ",
10th ed. International Thomson Business Press,
London.
El-
Shamy, Mostafa Nabil Ali (1999): “A proposed
approach to measuring costs based on specifications in
order to improve production quality and reduce costs
in light of the a
pplication of the GATT Agreement”, The
Egyptian Journal of Business Studies, Faculty of
Commerce - Mansoura University, No. 2, Volume 33, p.
pp.: 445 - 495.
Garrison, Noreen, and Brewer, (2018): ” Managerial
Accounting”,16fhed., Boston New York, USA.
Hilton, Ronald W. and Platt, David E., (2019):
"Managerial Accounting Creating Value in a Dynamic
Business Environment” 12th ed. Mc Graw –
Hill,
Education.
Jabbar, Sahar Mahdi (2021): “The compatibility
between the theory of constraints and cost on the
basis of specifications and its role in reducing product
costs” Master’s thesis
- University of Kufa.
Yuksel Pazarceviren, S. & Celayir, D. (2014). Target
Costing Based On The Activity-Based Costing Method
And A Model Proposal.
Yuksel Pazarceviren, S. & Dede, B. (2015). Life Cycle
Costing Model Based On Target Costing And Activity-
Based Costing Method And A Model Proposal.
Yuksel Pazarceviren, S., Akcin, O., & Ozsuer, U. (2015).
A Model Suggestion For Budgeting Activity Cost
Reduction Under Activity Based Kaizen Budgeting
Approach.
Cinquini, L., Collini, P., Marelli, A., & Tenucci, A. (2008).
An exploration of the factors affecting the diffusion of
Advanced Costing techniques: a comparative analysis
of two surveys (1996-2005).
Tamur, O. (2013). Creating Product Portfolio Strategy via
Activity Based Costing Application in Food Production.
