Question: 1a. How does activity based costing (ABC) differ from the traditional approach?What is the underlying difference between their philosophies?.(10 marks) 1b. Which is the better

1a. How does activity based costing (ABC) differ from the traditional approach?What is the underlying difference between their philosophies?.(10 marks)

1b. Which is the better method of costing ABC or Traditional Absorption Costing are they interchangeable? (10 marks)

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