Preparing a Memo: Compare Traditional Costing System with Activity-Based Costing System

General Instructions: For this case, you will be responsible for preparing a memo in a Word document to address the situation. Memo formats are available in Word under File, New, Search on Professional Memos or Memos for options. You can select a format or create your own memo in Word. If you create your own, be sure to follow general memo format rules such as Memo instruction link (Links to an external site.) (Links to an external site.)Furthermore, the link contains helpful information in the format of the body of a memo ie. single spacing, flush to the left margin no indent, etc.  Detailed Instructions: In a business setting, we are often asked to write a memo to communicate with internal and external professionals. Therefore, I felt it especially beneficial for you to practice writing a memo dealing with our managerial accounting concepts. Background: Currently, you work at Active Quality Sportswear (AQS), which manufactures sport attire for men, women, youth, and children. You're a senior accountant in the accounting department and have been with the company for five years. Since the company's inception seven years ago, AQS has operated under a traditional costing system based on machine hours. Company growth has really taken off in the last two years. Jacob Jones, the controller hired last year, is always open to new ideas. In fact, he welcomes communications to discuss how the company is doing and what, if anything, the company could or should be doing differently. This is your chance to make a good impression on the controller and management! It is your understanding that Wendy Shaw, the company CFO, has submitted paperwork for retirement. Therefore, there will be opportunities for people to move up or change positions within the company. You would have an interest in the controller position. You want to propose to the current controller the idea of evaluating AQS's costing system. Perhaps, it is time for a change. You briefly mention your idea to the controller. Jacob is excited about your initial comments and asks that you send him something in writing. The controller asks that you put your ideas in a memo to him. In turn, he will consider and include you on more research/analysis for the two of you to present to the senior management of the company.        In consideration of the background, prepare a memo in a Word document to submit to the controller. Compare a traditional costing system with an Activity-Based Costing (ABC) system. Include the similarities, differences, advantages, disadvantages of the two costing systems. Why are you suggesting the costing system be evaluated now? What do you feel this could mean for the company?  You will be graded based on following instructions, critical thinking, well-developed response, clear and concise, and mechanics such as grammar, punctuation, and sentence structure. Please see the enclosed rubric for more details. Save your document as Module #:  Assignment # – Case Name Your Name. It is acceptable to abbreviate the naming, as need